Reso 2007-1103 - Laserfiche WebLink

Home Browse Search

Article 3, CONTRACT TIMES, 3.1. The work must be substantially completed within 270 calendar days after the date when the Contract Times commence to run pursuant to paragraph 2.03 of the General Conditions. Pursuant to Article 14 of the General Conditions, the Work must be completed and ready for final payment within 300 calendar days after the date when the Contract Times commence to run. The Contract Times will commence to run on the thirtieth (30th) day after the Effective Date of the Agreement or, if a Notice to Proceed is given, on the day indicated in the Notice to Proceed. Pursuant to paragraph 2.04 of the General Conditions, the Contractor shall start to perform the Work on date when the Contract Times commence to run. 3.1.A. Within Twenty four (24) hours of Adoption of the Resolution awarding the bid and entering into the Agreement with the Contractor, the Owner shall issue a Notice to Proceed authorizing Owner to erect a construction sign for the Work. Within forty -eight (48) hours thereof, the Contractor must erect the construction sign and apply for construction sign payment. Owner shall issue a Notice to Proceed authorizing Contractor to complete the remainder of the Work within thirty (30) days of Adoption of the Resolution. 3.2. LIQUIDATED DAMAGES. OWNER and CONTRACTOR recognize that time is of the essence of this Agreement and that OWNER will suffer financial loss if the Work is not completed within the times specified in paragraph 3.1 above, plus any extensions thereof allowed in accordance with Article 12 of the General Conditions. They also recognize the delays, expense and difficulties involved in proving the actual loss suffered by OWNER if the Work is not completed on time. Accordingly, instead of requiring any such proof, OWNER and CONTRACTOR agree that as liquidated damages for delay (but not as a penalty) CONTRACTOR shall pay OWNER One Thousand Five Hundred and 00/100 dollars ($1500.00) for each day that expires after the time specified in paragraph 3.1 for each Substantial Completion date until the Work is substantially complete. If CONTRACTOR shall neglect, refuse or fail to complete the project by the project completion date within the time specified in paragraph 3.1 for completion and readiness for final payment or any proper extension thereof granted by OWNER, CONTRACTOR shall pay OWNER One Thousand and 00/100 dollars ($1000.00) for each day that expires after the time specified in paragraph 3.1 for completion and readiness for final payment. Article 4. CONTRACT PRICE. OWNER shall pay CONTRACTOR for completion of the Work in accordance with the Contract Documents an amount in current funds equal to the sum of the amounts determined pursuant to paragraphs 4.1 below: FOR A LUMP SUM CONTRACT OF: TOTAL BASE BID (Lump sum, Unit prices, and contingency items) Two Million Eight Hundred Sixty Three Thousands Nine Hundred Fifty Eight and 70/100 cents (use words) ($ 2,863,958.70 ) figures As provided in paragraph 11.03 of the General Conditions estimated quantities are not guaranteed, and determinations of actual quantities and classification are to be made by ENGINEER as provided in paragraph 9.08 of the General Conditions. Unit prices have been computed as provided in paragraph 11.03.6 of the General Conditions. Article 5. PAYMENT PROCEDURES. CONTRACTOR shall submit Applications for Payment in accordance with Article 14 of the General Conditions. Applications for Payment will be processed by ENGINEER as provided in the Genera Conditions. �. March 2007 00500 -2 03- 4122.D ,�