Contingency Funds. A Contingency fund is for the sole purpose of unforeseen issues that develop as a result of the proposed scope of work detailed in the lender approved agreements. Therefore, the contingency reserve fund is not to be used for work that is unrelated to the original scope of work approved by the Lender.
Appears in 8 contracts
Samples: Homeowner/Contractor Agreement, Home Improvement Contract, Standard Owner/Contractor Agreement