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181sT ACTIVE PARK EJCDC STANDARD FORM OF AGREEMENT BETWEEN OWNER AND CONTRACTOR ON THE BASIS OF A STIPULATED PRICE THIS AGREEMENT is dated as of the day of CITY OF SUNNY ISLES BEACH (hereinafter called OWNER) and (hereinafter called CONTRACTOR). APRIL10, 2005 in the year 20_ by and between OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as follows: Article 1. WORK. CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents. The Work is generally described as follows: Sealed bids for the construction of the 181" Drive Active Park, at 18115 North Bay Road, Sunny Isles Beach, Florida, 33160, consisting of a two (2) acres site to be developed as a public recreation area will be received by the Owner, City of Sunny Isles Beach. Work generally will consist of a baseball field with lighting, perimeter on- street parking, a new recreation center, a new gymnasium, landscape, infrastructure, and miscellaneous site amenities. Article 2. ENGINEER. The Project has been designed by: Miller, Legg & Associates, Inc. d/b /a Miller Legg 1800 N. Douglas Road, Suite 200 Pembroke Pines, Florida 33024 who is hereinafter called ENGINEER and who is to act as OWNER'S representative, assume all duties and responsibilities and have the rights and authority assigned to ENGINEER in the Contract Documents in connection with completion of the Work in accordance with the Contract Documents. Article 3. CONTRACT TIMES. 3.1. The Architectural Building work will be substantially completed within 365 calendar days after the date when the Contract Times commence to run and the Project Site work will be completed within 432 calendar days after the date when the Contract Times commence to run as provided in paragraph 2.3 of the General Conditions, and completed and ready for final payment in accordance with paragraph 14.07 of the General Conditions within 463 calendar days after the date when the Contract Times commence to run. 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. EJCDC STANDARD FORM OF AGREEMENT 00500 -1