Reso 2022-3437 - Laserfiche WebLink

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City of Sunny Isles Beach 18070 Collins Avenue, Sunny Isles Beach, Florida 33160 (305) 947-0606 phone (305) 949-3113 Fax 3.3.1 All limitations of time set forth in the Contract Documents are of the essence of this Contract. 3.4 The Terms of Sections 1.8, 7.15, and 7.5 entitled "Compliance with Laws", "Indemnity" and "Warranty", respectively, shall survive the expiration or termination of this Agreement. 3.5 Liquidated Damages In the event of delay to the Work for which Contractor is responsible, Contractor shall pay liquidated damages to the City at a rate of Five Hundred Dollars ($500) for each calendar day of delay in the completion of all the work. If any liquidated damages are unpaid by the Contractor, the City shall be entitled to deduct these unpaid liquidated damages from the monies due the Contractor. Such liquidated damages shall be deemed to be a genuine pre -estimate of the foreseeable damages incurred by City and in no way can be construed as a penalty. ARTICLE IV CONTRACT PRICE 4.1 The Contract Price 4.1.1 The City shall pay, and the Contractor shall accept, as full and complete payment for all of the Work required herein, the fixed sum of Two Hundred Sixty -Seven Thousand Four Hundred Sixty -Nine Dollars and Fifteen Cents ($267,469.15). The fixed sum set forth in this Paragraph 4.1.1 shall constitute the Contract Price which shall not be modified except by Change Order as provided in this Contract. 4.2. Contingency 4.2.1 In addition to the Contract Price set forth in Paragraph 4.1.1, there shall be a contingency in the amount of Twenty -Seven Thousand Five Hundred Thirty Dollars and Eighty -Five Cents ($27,530.85). The contingency accounts for all labor, materials, equipment, overhead, and services necessary for modification or extra work required to complete the Work because of unforeseen conditions, unforeseen conflicts between existing elements of work and the proposed work; for minor changes required to resolve any unforeseen conditions, Revised Regulations, Technological and Products Development, Operational Changes, Schedule Requirements, Program Interface, Emergencies and Other Miscellaneous Costs; and for adjustments to estimated quantities installed; and associated time related to the Work. Unforeseen conditions or conflicts as used in this Paragraph 4.2.1, are those conditions which could not have been determined or ascertained from a thorough and careful examination and inspection of the site as provided by Paragraph 1.5.8. The disbursement of all or part of the contingency is entirely at the discretion of the City and must be authorized by the City's Representative and approved by the City. ARTICLE V PAYMENT OF THE CONTRACT PRICE 5.1 Schedule of Values