General Construction Contract Template

GENERAL CONSTRUCTION CONTRACT

180 Lake Shore — Ground-floor Restaurant Build-out · Province Of Ontario, Canada

THIS GENERAL CONSTRUCTION CONTRACT (the "Contract") is made on 2026-06-01 between 180 Lake Shore Holdings Ltd. (the "Owner") and Maplewood Construction Group Inc. (the "Contractor"). The Owner wishes to engage the Contractor to perform the construction work described in this Contract on the project site located at 180 Lake Shore Boulevard East, Unit 100, Toronto, ON M5A 3X7, in the Province of Ontario, Canada (the "Project"). This Contract is governed by the Construction Act, R.S.O. 1990, c. C.30, as amended by the Construction Statute Law Amendment Act, 2024 (Bill 216) and Bill 60 (in force 1 January 2026).

The Contractor shall perform the following construction work (the "Work"):

Full interior fit-out of approximately 4,200 sq ft of ground-floor commercial space for a new restaurant tenant. Scope includes:
Demolition of existing fixtures and non-load-bearing partitions.
Mechanical, electrical and plumbing rough-in including new washrooms, kitchen exhaust hood, grease interceptor and 200-amp electrical service upgrade.
New partition walls, custom millwork (bar + service stations + banquettes), commercial kitchen equipment installation, finishes (porcelain tile, engineered hardwood, acoustic ceiling).
Fire-protection upgrade including new sprinkler heads and fire-alarm zone reconfiguration.
Final inspection and commissioning to Toronto Building Code occupancy permit.

The Work shall be performed in a good and workmanlike manner, in accordance with all applicable building codes, the Ontario Building Code or equivalent provincial code, all applicable bylaws, regulations and permits, and the plans and specifications (if any) annexed to this Contract.

The Owner shall pay the Contractor the sum of 850,000.00 CAD for the complete performance of the Work (the "Contract Sum"). This amount is exclusive of GST / HST / PST, which shall be charged in addition at the applicable rate.

The Contractor shall commence the Work on or before 2026-06-15 and shall achieve substantial performance of the Work (as that term is defined in the Construction Act, R.S.O. 1990, c. C.30, as amended by the Construction Statute Law Amendment Act, 2024 (Bill 216) and Bill 60 (in force 1 January 2026)) on or before 2026-12-15. Time is of the essence of this Contract.

The Owner shall pay the Contract Sum on the basis of monthly progress draws on certified completion percentages.

Particulars:
Monthly progress draws based on a third-party Quantity Surveyor's certified percentage of work-in-place. Draws are submitted on the 25th of each month with payment within 28 days under the Construction Act prompt-payment scheme. The 10% statutory holdback is retained against each draw until released in accordance with the Annual Holdback Release clause below.

The Owner shall retain a statutory holdback of 10% of the amount otherwise payable to the Contractor on account of each progress payment, in accordance with the Construction Act, R.S.O. 1990, c. C.30, as amended by the Construction Statute Law Amendment Act, 2024 (Bill 216) and Bill 60 (in force 1 January 2026). The holdback shall be released following the expiry of the applicable lien-preservation period, unless a lien has been preserved or perfected against the Project.

Annual holdback release (Ontario, 1 January 2026 amendments). For Projects spanning more than one (1) year, the Owner shall publish a notice of annual release of the accrued holdback within fourteen (14) days after each anniversary of the date of this Contract. The Owner shall then wait sixty (60) days from publication of the notice, after which the Owner shall release the accrued holdback to the Contractor within fourteen (14) days, unless a construction lien has been preserved or perfected against the Project.

The Contractor may issue a "proper invoice" to the Owner at the intervals specified in this Contract (or, by default, monthly). A "proper invoice" must comply with the requirements of the Construction Act, R.S.O. 1990, c. C.30, as amended by the Construction Statute Law Amendment Act, 2024 (Bill 216) and Bill 60 (in force 1 January 2026). If the Owner does not deliver a written notice of non-payment within fourteen (14) days after receiving a proper invoice, the Owner shall pay the invoiced amount to the Contractor within 28 days after the proper invoice is received. The Contractor shall in turn pay each subcontractor the proportionate amount owing to that subcontractor within 7 days after receiving the corresponding payment from the Owner. Failure to comply with the prompt-payment timelines entitles the unpaid Contractor or subcontractor to interest at the rate prescribed by the Construction Act, R.S.O. 1990, c. C.30, as amended by the Construction Statute Law Amendment Act, 2024 (Bill 216) and Bill 60 (in force 1 January 2026) and, in Ontario, to refer the dispute to interim adjudication.

The Parties acknowledge that any construction lien arising out of the Work must be preserved (registered against title to the Project) within 60 days from the earlier of (a) the date of substantial performance of the Work, (b) the date of completion or abandonment of the Work, and (c) the date the lien claimant last supplied services or materials to the Project, as those terms are defined in the Construction Act, R.S.O. 1990, c. C.30, as amended by the Construction Statute Law Amendment Act, 2024 (Bill 216) and Bill 60 (in force 1 January 2026). Failure to preserve a lien within the statutory window irrevocably extinguishes the lien rights and the unpaid party becomes an ordinary unsecured creditor.

Express acknowledgment by the Parties:
Both Parties acknowledge that the 60-day lien-preservation window under the Ontario Construction Act is a strict statutory deadline that cannot be extended by agreement or by the conduct of the Parties. The Contractor undertakes to track the lien-preservation deadline for every subcontractor and material supplier engaged on the Project.

Change orders. No change to the Scope of Work, the Contract Sum or the Time of Performance shall be valid unless documented in a written change order signed by both Parties. Changes with a Contract Sum impact below 5,000.00 CAD may be authorised verbally by the Owner's designated representative; changes at or above that threshold require a written change order signed by both Parties. The Contractor shall not proceed with any change without a valid change order, and the Owner shall not refuse to issue a change order for work the Owner has directed the Contractor to perform.

Warranty. The Contractor warrants the Work to be free from defects in materials and workmanship for a period of 24 months from the date of substantial performance. During the warranty period, the Contractor shall promptly remedy at its own expense any defect or deficiency in the Work, exclusive of fair wear and tear and damage caused by the Owner's misuse. This warranty is in addition to (and not in substitution for) any new-home warranty required by provincial law (Tarion Warranty Corporation in Ontario; Travelers Canada / National Home Warranty in BC; New Home Buyer Protection in Alberta).

Insurance. Throughout the performance of the Work and through the warranty period, the Contractor shall maintain in good standing: (a) Commercial general liability insurance with an inclusive limit of not less than 5,000,000.00 CAD per occurrence; (b) all-risks builders risk insurance covering the full replacement value of the Work, naming the Owner as additional insured; (c) any provincial workers' compensation coverage required by law (WSIB in Ontario, WorkSafeBC in BC, WCB-Alberta); (d) any motor-vehicle insurance required for vehicles used in performance of the Work. The Contractor shall provide a current certificate of insurance to the Owner before commencing the Work and on each renewal.

Adjudication. Any dispute arising under this Contract relating to a proper invoice, a notice of non-payment, a payment of holdback, services or materials supplied or to be supplied, a payment under a subcontract, a change order or any matter related to the prompt-payment scheme, may be referred by either Party to interim adjudication under the Construction Act, R.S.O. 1990, c. C.30, as amended by the Construction Statute Law Amendment Act, 2024 (Bill 216) and Bill 60 (in force 1 January 2026). The adjudicator's determination is binding on the Parties on an interim basis pending final resolution by agreement, mediation, arbitration or court order.

Either Party may terminate this Contract for cause on five (5) Business Days' written notice if the other Party (a) commits a material breach of this Contract that is not cured within those five (5) Business Days, (b) becomes insolvent, files for bankruptcy or makes an assignment for the benefit of creditors, (c) abandons the Work for more than five (5) consecutive Business Days without reasonable excuse. On termination, the Owner shall pay the Contractor for Work properly performed up to the date of termination (less any setoff for the Owner's damages), and the Contractor shall promptly remove its equipment from the Project site and provide the Owner with any drawings, specifications and shop drawings relating to the Work.

This Contract shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein, including the Construction Act, R.S.O. 1990, c. C.30, as amended by the Construction Statute Law Amendment Act, 2024 (Bill 216) and Bill 60 (in force 1 January 2026).

Each Party signs this Contract in the presence of Margaret Louise Ashworth of 76 Forest Hill Road, Toronto, ON M5P 2N5, who is not a Party to this Contract.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date indicated.