MASTER AGREEMENT ENTERTAINMENT SYSTEM SUBCONTRACTOR THIS ENTERTAINMENT SYSTEM AGREEMENT (hereinafter referred to as the “Agreement”) is made and entered into this _____ day of ___________, 20___, by and between (hereinafter referred to as “SUBCONTRACTOR”) and with its principal place of business located at (hereinafter referred to as “BUILDER”).
SUBCONTRACTOR hereby agrees to provide services and materials for the installation of entertainment system (hereinafter referred to as the “Work”) on an ongoing basis during the term of this Agreement, for BUILDER in accordance with the plans and Residence specifications (which will be supplied to SUBCONTRACTOR on a job-by-job basis), and in accordance with any written change orders which BUILDER may make from time to time hereafter. Said installation will take place for the residence on real estate owned or under contract by BUILDER (hereinafter referred to as the “Residence”). The actual Work to be performed by SUBCONTRACTOR shall be set forth on BUILDER’s standard form purchase order on a job-by-job basis and will be governed by the terms of this Agreement. Any dispute between SUBCONTRACTOR’s standard form proposal and this Agreement will be superceded and governed solely by this Agreement. The performance of Work under this Agreement may be terminated without cause, in whole, or from time to time, in part, by BUILDER without prejudice to any rights that BUILDER may have against SUBCONTRACTOR. Termination of Work hereunder shall be effected by delivery to SUBCONTRACTOR of a Notice of Termination specifying the date of termination and the extent to which performance of Work under the Subcontract is terminated. Upon receipt of such Notice of Termination, SUBCONTRACTOR shall stop Work on the date and to the extent specified in the Notice of Termination; place no further orders in connection with the performance of this Agreement; terminate all orders or subcontracts; do only such work as may be necessary to preserve and protect the Work already in progress; settle all outstanding liabilities and all claims arising out of such termination of orders and subcontracts, subject to the approval of BUILDER; and take such other action with respect to the Work as BUILDER may reasonably require. BUILDER shall pay SUBCONTRACTOR that portion of the Agreement Price that the work performed bears to the entire Work under this Agreement plus such reasonable expenses for services incurred after the date of termination for the costs of protecting BUILDER’S property, as required or approved by BUILDER in advance. Under no circumstances shall SUBCONTRACTOR be entitled to anticipated profits, unabsorbed overhead or interest on borrowings. SUBCONTRACTOR shall furnish, and pay for all costs of labor, equipment, tools, freight, permits, and other items required to perform the installation of the entertainment system for the Residence, in STRICT accordance with the BUILDER’s plans and specifications and shall meet all requirements of the applicable codes. SUBCONTRACTOR shall, at it