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EJCDC STANDARD FORM OF AGREEMENT BETWEEN OWNER AND CONTRACTOR ON THE BASIS OF A STIPULATED PRICE ' in the year 2003 by and s of _ day of and THIS AGREEMENT ITY OF SUNNY ISLES BEACH (hereinafter called OWNER) ' between hereinafter called CONTRACTOR). iOWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as follows: I Article 1. WORK. The CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents. Work is generally described as follows: Sunny Isles Beach Entrance Signs (Electrical) Article 2. ENGINEER. has been designed by: CALVIN, GIORDANO &ASSOCIATES, INC. Project 1 1800 Eller Drive, Suite 600 Fort Lauderdale, Florida 33316 who is hereinafter called ENGINEER and who is to act as OWNER'S representative, ENGINEER'i ethe Contract duties and responsibilities and have the rights and authority assigned Documents in connection with completion of the Work in accordance with the Contract Documents. Article 3. CONTRACT TIMES. work will be substantially completed within r p days after fthe Generale Conditions, 3.1. The provided in P g paragraph 14.07 of the Contract Times commence for run final as spayment in accordance with p and completed and ready 30 days after the date when the Contract Times commence f to General Conditions within the 3.2, LIQUIDATED DAMAGES. OWNER and CONTRACTOR recognize that time of this Ag h 3.1 above, plus any extensions thereof reement and that OWNER will suffer financial loss if the Work is no essence specified in paragraph completed within the times OWNER if the the ed in accordance with Article 12 of the proving the actual Conditions. loss suffered also recognize OWNER the allow such proof, OWNER delays, expense and difficulties involved in Pr instead of requiring any enalty) Work is not completed on time. Accordingly, and CONTRACTOR agree that as liquidated U dreddand 001100 dollars (b$500 00) for each day mages for delay OWNER Five H Completion until the CONTRACTOR shall pay aragraph 3.1 for Substantial Comp that expires after the time specified in P letion, if CONTRACTOR shall neglect, complete. After Substantial Comp ecified in paragraph 3.1 for Work is substantially comp Work within the time sp ranted by refuse or fail to complete the remaining Went or any proper extension thereof g completion and readiness for final payment completion and readiness for ER CONTRACTOR shall pay OWNER Five Hundred 001100 dollars ($500.00) for each OWN paragraph 3.1 for comp day that expires after the time specified in p final payment. 03- 4138.A -R 09/03 00500 -1