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<br />Payment terms: <br /> <br />20 % down: $ 5,760.00 <br /> <br />40 % progress payment: $ 11,520.00 <br />Due at drywall completion <br /> <br />Balance due at substantial completion: $ 11,520.00 <br /> <br />Option not included above. <br /> <br />The above prices, conditions and specifications are satisfactory and hereby accepted. You are authorized <br />to do the work. Payments will be made as outlined above. <br /> <br />Date of acceptance: <br /> <br />Signature: <br /> <br />Signature: <br /> <br />Thank you <br /> <br />Scott Ruegemer <br /> <br />X. Final Inspection and Liens <br /> <br />Upon notification by RMS Construction LLC of substantial completion of the work, the owners <br />and RMS Construction LLC will inspect the work performed, and at that time the owners will <br />prepare a punch list that identifies any incomplete work or deficiencies in workmanship or <br />materials. The owners may retain the value of the punch list items from the final payment until <br />items are complete. At that time, RMS Construction LLC will deliver to the owners a release of <br />all liens. <br /> <br />Mechanic's Lien Notice <br /> <br />(A) Any person or company supplying labor or materials for this improvement to your <br />property may file a lien against your property if that person or company is not paid for <br />the contribution. <br />Under Minnesota law, you have the right to pay persons who supplied labor or materials for this <br />improvement directly and deduct this amount from our contract price, or withhold the amount due them <br />from us until 120 days after completion of the improvement unless we give you a lien waiver signed by <br />persons who supplied any labor or material for the improvement and who gave you timely notice. <br /> <br />I <br />