Reso 2010-1605 - Laserfiche WebLink

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ARTICLE 2. CONTRACT TIME. TIME FOR COMPLETION AND LIOUIDATED DAMAGES 2.1 Time is of the essence in the performance of the Work under this Agreement. The Commencement Date shall be no later than ten (10) days after City's issuance of the Notice to Proceed. Contractor shall perform the Work in accordance with the Construction Schedule and shall achieve Substantial Completion of construction not later than the Time for Completion. 2.2 Contractor shall complete all applications for the Permits within ten (10) calendar days after execution of this Agreement. A Notice to Proceed for the commencement of the Work will not be issued until Contractor's submission to the City of all required documents, including, but not limited to, the Bonds, the Insurance Certificate and the Permits. In the event Contractor fails to deliver to the City the required documents within ten (10) days after the Execution Date, or fails to apply for the Permits within ten (10) days after the Execution Date, or fails to commence the Work within ten (10) days after the City's Issuance of a Notice to Proceed, then Contractor shall be in default. In such event the City, in addition to all remedies provided for an event of Contractor's default hereunder, shall have the right to collect from Contractor all expenses incurred by the City in the re-procurement of the Services. 2.3 Time is of the essence throughout this Agreement. 2.4 Upon failure of Contractor to substantially complete the Contract within the specified period of time, plus approved time extensions, Contractor shall pay to City the sum of One Thousand Dollars ($1, 000.00) for each calendar day after the time specified for Substantial Completion. After Substantial Completion, should Contractor fail to complete the remaining work within the time specified for Final Completion, plus approved time extensions thereof, for completion and readiness for final payment, Contractor shall pay to City the sum of One Thousand Dollars ($1, 000.00) for each calendar day after the time specified for Final Completion, plus any approved extensions, for completion and readiness for final payment. These amounts are not penalties but are liquidated damages to City for its inability to obtain full beneficial occupancy and/or use of the Project. Liquidated damages are hereby fixed and agreed upon between the parties, recognizing the impossibility of precisely ascertaining the amount of damages that will be sustained by City as a consequence of such delay, and both parties desiring to obviate any question of dispute concerning the amount of said damages and the cost and effect of the failure of Contractor to complete the Contract on time. The above-stated liquidated damages shall apply separately to each portion of the Project for which a time for completion is gIven. 2.5 The City is authorized to deduct liquidated damages from monies due to Contractor for Work under this Agreement or as much thereof as the City may, in its sole discretion, deem just and reasonable. 2.6 Contractor will promptly perform its duties under the Contract Documents and will give the Work as much priority as is necessary to cause the Work to be completed on a timely HISTORIC SUNNY ISLES BEACHlNEWPORT FISHING PIER AT PIER PARK ,.. ") )