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<br /> <br />EJCDC <br />STANDARD FORM OF AGREEMENT <br />BETWEEN OWNER AND CONTRACTOR <br />ON THE BASIS OF A STIPULATED PRICE <br /> <br />THIS AGREEMENT is dated as of the <br />CITY OF SUNNY ISLES BEACH <br />hereinafter called CONTRACTOR). <br /> <br />day of in the year 20_ by and between <br />(hereinafter called OWNER) and <br /> <br />OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as <br />follows: <br /> <br />Article 1. WORK. <br /> <br />CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents. The Work <br />is generally described as follows: <br /> <br />1. Construction of the Golden Shores Entrance Wall consisting of furnishing and installing an eight- <br />foot (8') high pre-cast concrete barrier wall to include coping and caps, and construction of +/- 920 <br />linear feet of coping on existing barrier wall. <br /> <br />Article 2. ENGINEER. <br /> <br />The Project has been designed by: <br /> <br />CALVIN, GIORDANO & ASSOCIATES, INC. <br />1800 Eller Drive, Suite 600 <br />Fort Lauderdale, Florida 33316 <br /> <br />who is hereinafter called ENGINEER and who is to act as OWNER'S representative, assume all duties <br />and responsibilities and have the rights and authority assigned to ENGINEER in the Contract Documents <br />in connection with completion of the Work in accordance with the Contract Documents. <br /> <br />Article 3. CONTRACT TIMES. <br /> <br />3.1. The work will be substantially completed within 120 days after the date when the Contract <br />Times commence to run as provided in paragraph 2.3 of the General Conditions, and completed and <br />ready for final payment in accordance with paragraph 14.07 of the General Conditions within 150 <br />days after the date when the Contract Times commence to run. <br /> <br />3.2. LIQUIDATED DAMAGES. OWNER and CONTRACTOR recognize that time is of the <br />essence of this Agreement and that OWNER will suffer financial loss if the Work is not completed <br />within the times specified in paragraph 3.1 above, plus any extensions thereof allowed in <br />accordance with Article 12 of the General Conditions. They also recognize the delays, expense and <br />difficulties involved in proving the actual loss suffered by OWNER if the Work is not completed on <br />time. Accordingly, instead of requiring any such proof, OWNER and CONTRACTOR agree that <br />as liquidated damages for delay (but not as a penalty) CONTRACTOR shall pay OWNER Five <br />Hundred and 00/100 dollars ($500.00) for each day that expires after the time specified in <br />paragraph 3.1 for Substantial Completion until the Work is substantially complete. After Substantial <br />Completion, if CONTRACTOR shall neglect, refuse or fail to complete the remaining Work within <br />the time specified in paragraph 3.1 for completion and readiness for final payment or any proper <br />extension thereof granted by OWNER, CONTRACTOR shall pay OWNER Five Hundred <br /> <br />12/04 <br /> <br />00500-1 <br /> <br />04-4801 <br />