NEW HOME CONSTRUCTION AND COMMITMENT AGREEMENT

THIS AGREEMENT, made this ______ day of ________________, 19____, by and between NEW CENTURY HOMES, INC., hereinafter referred to as "New Century," and __________________________________ of the City of __________________________, County of __________________________, State of _________________, hereinafter referred to as "Buyer," is to set forth the terms and conditions concerning the construction of a new home for the Buyer and is that certain agreement referred to as Exhibit A in the NEW HOME PURCHASE AGREEMENT, dated as of the _____ day of ________________, 19____, between the Buyer and New Century Homes, Inc.

IN CONSIDERATION of the mutual covenants and promises set forth herein, the parties agree as follows:

1. The New Home Construction Specifications shall be as set forth in the BUILDING PLANS and as further set forth in the COST BREAKDOWN, which are both made a part hereof by this reference, and will be attached hereto at such time as they are approved by both the Buyer and New Century.

2. Included in the sale are the following:

a. New Century's Standard Selections of a four burner range and oven, dishwasher, disposal, kitchen center, microwave oven, 50 gallon gas hot water heater, forced air gas furnace or electric furnace, if required.

b. The front, sides and first 30 feet at the rear of the home will be planted into lawn. Fifteen shrubs, of New Century's choosing, will be included in the landscaping.

c. Kitchen cabinets and bathroom vanities in accordance with the specifications and plans.

3. Buyer shall have the right, at additional cost to the Buyer, to modify the New Century Standard Selections and to indicate such changes in the COST BREAKDOWN. When any increased cost of such changes has been paid to New Century, in cash, then the changes will be binding upon New Century.

4. Electrical fixtures, plumbing fixtures, paint colors, and wallpaper or walltex patterns are to be selected by the Buyer within 10 days following notification from New Century to the Buyer that the selection time has arrived.

5. Buyer is not only obligated to make the necessary selections of equipment, fixtures, colors and designs within the said 10 day period, but is also obliged to keep such selections within the price framework contained in the construction specifications. Should the Buyer exceed the specified prices, then the additional money must be paid, in cash, to New Century at the time the selections are made known to New Century. Failure of the Buyer to make the selections within the said 10 day period, or failure of the Buyer to pay the additional sums, shall forfeit Buyers right to select and New Century shall proceed with the selections. New Century will, however, honor any selection validly indicated in the specifications.

6. Any changes requested by the Buyer at any time after construction has begun will be charged to the Buyer in addition to the quoted Total Price set forth herein and must be paid for prior to New Century making the changes in the specifications.

7. New Century reserves the right to:

a. Make such changes or substitutions of equal quality in the construction as may be required, authorized or approved by the Governmental Agencies having jurisdiction over the construction.

b. Determine the design, including the reversal of building layout and location of the building on the plot to fit into the general pattern of the development.

c. Determine the grading and elevations of all building plots.

d. Determine the elevation of foundations and streets to conform with the topographical conditions.

8. Risk of loss or damage to said property by fire or other cause until delivery of occupancy to the Buyer shall be the responsibility of New Century. Subsequent to the date of occupancy the Buyer shall be responsible for risk of loss or damage. Should Buyer not furnish New Century with suitable proof of insurance, showing New Century as the loss payee, covering the premises hereunder, then New Century shall have the right to cause a policy of insurance to be issued covering the premises and to bill the Buyer for the said policy of insurance.

9. If for any reason whatsoever, except New Century's willful default, New Century shall be unable to complete the construction of the new home and to deliver possession in accordance with the provisions hereof, it is agreed that New Century's total liability shall be limited to the refund of EIGHTY PERCENT (80%) of the principle contribution of the Buyer. Interest accrued on any funds paid by the Buyer shall not be refundable.

10. If construction or completion of the said building shall be stopped or delayed by reason of New Century's inability to obtain materials and/or labor, then the delivery of possession shall be adjourned to a date to be fixed by New Century, or at New Century's option this Agreement may be canceled and the refund and liability of National Gold shall be as set forth in Paragraph 9 hereof.

11. If the building shall not be ready for occupancy at the date established by Paragraph 20 herein, then the closing shall be adjourned to a date to be set by New Century, which date shall not be beyond 45 days after said dwelling should have been ready for occupancy and all necessary reports, approvals and instruments shall have been issued.

12. The existence of unpaid taxes or liens of any kind at the time of closing shall not constitute an objection to the title provided New Century. New Century shall have the right to assign its First Mortgage position as it deems necessary in order for New Century to obtain funding through the financial resources of New Century.

13. Buyer shall in no event take possession of the premises prior to the time of delivery and closing of the real estate transaction and payment in full to New Century. Should the Buyer violate this provision, Buyer consents that New Century shall have the right to dispossess them from the premises as squatters and intruders by summary proceedings or otherwise.

14. Upon Buyer's failure to take title as herein provided New Century will be relieved of any obligation at law or equity for the conveyance of said home to the Buyer and upon 10 days written notice to the Buyer may proceed to sell the house to others and Buyer agrees to pay any deficiency.

15. Prior to or at the time of closing and delivery of possession New Century will pay all material and labor liens on the premises. Taxes and governmental assessments shall be prorated as of the date of possession.

16. Payments hereunder will included both the home and the building lot.

17. Upon closing, New Century shall deliver to Buyer a guarantee covering the premises against all defective workmanship and materials, normal wear and tear excepted, for a period of TEN (10) years after the date of closing, except that in the case where a manufacturer of an item used in the construction of the home has issued a guarantee the manufacturer's guarantee will prevail.

18. Purchasers for themselves and their successors, do hereby covenant and agree that for a period of two years after the closing hereof, they will not place any sign or signs upon any part of said premises advertising the same for sale, rent or lease, or any other purposes except a name sign or house number sign or a professional sign, without first obtaining the written consent of New Century. This paragraph shall survive the closing and delivery of possession of the premises.

19. If any minor item or work is incomplete at the time of closing, Buyer agrees to close and to accept a letter from New Century agreeing to complete such items within a reasonable time.

20. Possession of the premises shall be delivered on or before ________ days after the date of execution of this agreement.

21. If two or more persons constitute the Buyer then the word "Buyer" shall be construed to read "Buyers" whenever the sense of this Agreement so requires.

22. If any part or portion of this Agreement shall be held to be illegal or invalid then the balance of the contract shall be unaffected so long as the basic meaning of the Agreement is not altered.

23. This Agreement may not be changed or terminated orally. The stipulations aforesaid are to apply to and bind the heirs, executors, administrators, successors and assigns of the respective parties.

IN WITNESS WHEREOF, this Agreement has been duly executed as of the day and date first above written in the City of ____________________________, County of ___________________________________, State of ___________________, however, in the case of a dispute between the parties it shall be resolved in the Superior Common Court of the Utah Republic, pursuant to common law principles.

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