Reso 2005-801 - Laserfiche WebLink

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Shop Drawings Section 01336 Regulatory Requirements Section 01414 Quality Control Section 01450 Temporary Tree & Plant Protection Section 01565 Close Out Documents Section 01700 Planting Section 02900 2, That the First Party shall commence the Work to be performed under this Agreement on a date to be specified in a written order of the Second Party and shall complete all Work hereunder within the length of time stipulated in the Bid, 3, That the Second Party hereby agrees to pay to the First Party for the faithful performance of this Agreement, subject to additions and deductions as provided in the Bid Form, in lawful money of the United States, the amount of: -.Ninety-Six Thousand. Six Hundred Fif~ne Dollars and Twenty-Five Cent~ (Written Dollar Amount) dollars ($ 96,659. 25 ), Lump Sum, 4, That the Second Party shall make monthly partial payments to the First Party on the basis of a duly certified and approved estimate of Work performed during each calendar month by the First Party, Less the retainage provided in the General Conditions, which is to be withheld by the Second Party until Work within a particular part has been performed in accordance with this Agreement and until such Work has been accepted by the Second Party, 5, That upon submission by the First Party of evidence satisfactory to the Second Party that all payrolls, material bills, and other costs incurred by the First Party in connection with the construction of the Work have been paid in full, final payment on account of this Agreement shall be made within 60 days after the completion by the First Party of all Work covered by this Agreement and the acceptance of such Work by the Second Party, 6, In the event that the Contractor shall fail to complete the Work within the time limit or the extended time limit agreed upon, as more particularly set forth in the Contract Documents, liquidated damages shall be paid at the rate of Five Hundred and 0011 00 Dollars ($500,00) per day, plus any monies paid by the City to the Consultant for additional engineering and inspection services associated with such delay, 7, It is further mutually agreed between the parties hereto that if, at any time after the execution of this Agreement and the Surety Bond hereto attached for its faithful performance and payment, the Second Party shall deem the Surety or Sureties upon such bond to be unsatisfactory, or if, for any reason such bond ceases to be adequate to cover the performance of the Work, the First Party shall, at its expense within 5 days after the receipt of notice from the Second Party so to do, furnish an additional bond or bonds in such form and amount and with such Surety or Sureties as shall be satisfactory to the Second Party, In such event, no further payment to the First Party shall be deemed to be due under this Agreement until such new or additional security for the faithful performance of the Work shall be furnished in manner and form satisfactory to the Second Party, 8, No additional Work or extras shall be done unless the same shall be duly authorized by appropriate action by the Party of the Second Part, 00526 - 2 :r"~ .~ fi~~ '~1 ~ ~