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                                                                   EXHIBIT 10.26

                              CONTRACTOR AGREEMENT

         This Contractor Agreement (the "Agreement") is entered into effective
as of the 6th day of November, 2000, by and between NEWMARK HOMES CORP., a
Nevada corporation ("NEWMARK") and TECHNICAL OLYMPIC S.A., a Greek corporation
("CONTRACTOR").

                                    RECITALS

         WHEREAS, NEWMARK desires for its subsidiaries and affiliates (the
"Newmark Entities") to receive economic benefits by utilizing the services of
CONTRACTOR;

         WHEREAS, CONTRACTOR is willing to provide such services for the
business operations of the Newmark Entities;

         WHEREAS, for such purpose, NEWMARK will cause the Newmark Entities to
assign their respective rights under certain construction and other contracts
currently in effect and certain future construction and other contracts (the
"Assigned Construction Contracts") to CONTRACTOR, and CONTRACTOR will assume the
Assigned Construction Contracts, subject to the terms and conditions set forth
herein;

         WHEREAS, CONTRACTOR will enter into certain other or additional
construction contracts for the operations of the Newmark Entities (such
contracts collectively with the Assigned Construction Contracts, the
"Contracts");

         WHEREAS, CONTRACTOR and NEWMARK desire to document their agreements;

         NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS, that in consideration
of the mutual benefits to accrue to each of the parties hereof, the receipt and
sufficiency of which are hereby acknowledged, NEWMARK and CONTRACTOR hereby
agree as follows:

1.       Engagement.

         NEWMARK hereby engages CONTRACTOR, and CONTRACTOR hereby accepts such
         engagement and agrees to perform the construction and related services
         described in Section 3 below (the "Services"), on behalf of and for the
         account of NEWMARK and the Newmark Entities in accordance with the
         terms and conditions of this Agreement.

2.       General Standards.

         CONTRACTOR will provide the Services and perform its obligations
         hereunder with reasonable diligence. NEWMARK will provide its services
         and perform its obligations hereunder with reasonable diligence.

3.       Services to be Performed by CONTRACTOR.

         a.       CONTRACTOR hereby agrees to provide for the construction and
                  to purchase such materials, supplies and labor pursuant to the
                  Contracts as may be directed by the respective Newmark
                  Entities from time to time.

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         b.       In the event any of the Newmark Entities desires to contract
                  for the construction and purchase of any goods and/or services
                  on a regular basis from any vendors not currently utilized,
                  such Newmark Entity, in its own free unlimited discretion,
                  shall have the right to negotiate and execute a contract or
                  agreement with such vendor on terms acceptable to it. If both
                  CONTRACTOR and the respective Newmark Entity agree that the
                  same is in their best interest, a Newmark Entity may then
                  assign any such contract to CONTRACTOR. In the alternative, in
                  lieu of such assignment, the parties can agree on a
                  case-by-case basis to have such contract executed by
                  CONTRACTOR at inception. However, notwithstanding anything
                  herein to the contrary, each Newmark Entity shall have the
                  right not to assign any future contracts to CONTRACTOR or not
                  to have the same executed by CONTRACTOR at inception, in such
                  Newmark Entity's sole discretion. CONTRACTOR shall comply with
                  instructions it may receive from the respective Newmark Entity
                  from time to time with regard to the termination or renewal of
                  any of the Contracts or any contracts subsequently assigned or
                  entered into directly by CONTRACTOR as directed by the
                  respective Newmark Entity.

         c.       With regard to any materials and supplies purchased by
                  CONTRACTOR on behalf of a Newmark Entity for the construction,
                  the respective Newmark Entity shall promptly pay all invoices
                  remitted by any suppliers when the same are due and payable
                  directly to the vendor on behalf of CONTRACTOR. CONTRACTOR
                  shall promptly forward copies of any such invoices to the
                  respective Newmark Entity for processing in accordance with
                  this Agreement.

         d.       CONTRACTOR shall perform such incidental services to the ones
                  listed herein as reasonably requested from time to time by the
                  Board of Directors or management of NEWMARK, but only to the
                  extent CONTRACTOR consents to perform such incidental
                  services.

4.       Indemnification.

         a.       NEWMARK shall indemnify and hold CONTRACTOR harmless from all
                  suits, actions, losses, increased costs, damages, claims, or
                  liability of any character, type or description, including
                  without limiting the generality of the foregoing, all expenses
                  of litigation, courts costs and attorney's fees arising from,
                  or related to (i) claims by any other parties to the Contracts
                  because of the assignment of the Contracts to CONTRACTOR; (ii)
                  any claims by any customer or homebuyer of the Newmark
                  Entities of whatsoever kind, including but not limited to a
                  breach of warranty or a claim of indemnity, or the providing
                  of goods, products, services, or labor by the Newmark
                  Entities; or (iii) termination of any Contract by the other
                  party thereto due to a failure of any of the Newmark Entities
                  to pay for products of services delivered or sold under such
                  Contract.

         b.       CONTRACTOR shall indemnify and hold NEWMARK and the Newmark
                  Entities harmless from all suits, actions, losses, increased
                  costs, damages, claims, or liability of any character, type or
                  description, including without limiting the generality of the
                  foregoing, all expenses of litigation, courts costs and
                  attorney's

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                  fees arising from, or related to, the assignment of the
                  Contracts and the assumption of the liabilities of the Newmark
                  Entities under the Contracts by CONTRACTOR, including but not
                  limited to any claims of breach of contract by any of the
                  other parties to the Contracts due to the failure of
                  CONTRACTOR to perform under the Contracts.

         c.       The above provisions concerning indemnification shall survive
                  the termination of this Agreement.

5.       Term and Termination.

         This Agreement shall commence on the date hereof and shall continue to
         be in effect until terminated by either party. Either party may
         terminate this Agreement upon sixty (60) days prior written notice to
         the other party.

6.       Nature of Services.

         CONTRACTOR and NEWMARK agree that all services performed hereunder
         shall be in CONTRACTOR's capacity as an independent contractor, and it
         is not the purpose or intent of this Agreement to create any franchise,
         joint venture, trust, partnership, or employer/employee relationship
         for any purposes whatsoever. Nothing in this Agreement shall be
         construed to make either party hereto an agent, joint venturer,
         partner, legal representative, employee or policy-making participant of
         the other, and neither party shall have the right to obligate or bind
         the other party in any manner whatsoever. The performance by CONTRACTOR
         of its duties under this Agreement shall not relieve NEWMARK of any
         legal or contractual duty whatsoever, including duties to comply with
         applicable laws, rules, regulations, orders, policies, procedures and
         financial and accounting reporting requirements.

7.       Successors and Assigns.

         Neither NEWMARK nor CONTRACTOR may assign its rights nor claims,
         transfer or subcontract its obligations or delegate its duties
         hereunder without the prior written consent of the other party hereto.

8.       No Third Party Beneficiary.

         The provisions of this Agreement are enforceable solely by the parties
         to this Agreement, and no other person shall have the right to enforce
         any provision of this Agreement or to compel any party to this
         Agreement to comply with the terms of this Agreement.

9.       Notices.

         All notices, requests, clause, demands and other communications
         hereunder shall be in writing and in English and shall be deemed to
         have been duly given when delivered in person, by overnight courier or
         telecopy to the respective parties as follows:

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         If to NEWMARK:                      Newmark Homes Corp.
                                             1200 Soldiers Field Drive
                                             Sugar Land, Texas 77479
                                             Facsimile: 281-243-0168
                                             Attention: Terry C. White

         If to CONTRACTOR:                   Technical Olympic S.A.
                                             20 Solomou Street
                                             Athens 17456 Greece
                                             Facsimile: 011-301-995-5586
                                             Attention: Andreas Stengos

         Or to such other address as the person to whom notice is given may have
         previously furnished to the other in writing in the manner set forth
         above; provided, however, that notice of any change of address shall be
         effective only upon receipt thereof.

10.      Further Actions.

         At any time and from time to time, each party agrees, without further
         consideration, to take such actions and to execute and deliver such
         documents as may be necessary to effectuate the purposes of this
         Agreement.

11.      This Agreement, and the application or interpretation thereof, shall be
         governed by the laws of the State of Texas.

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         EXECUTED effective as of the 6th day of November, 2000.

         NEWMARK:                             NEWMARK HOMES CORP.

                                              By:  /s/ Lonnie Fedrick
                                                  ------------------------------
                                              Name:  Lonnie Fedrick
                                              Title: President

         CONTRACTOR:                          TECHNICAL OLYMPIC S.A.

                                              By:  /s/ Andreas Stengos
                                                  ------------------------------
                                              Name:  Andreas Stengos
                                              Title: Managing Director

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