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SECTION 00530 - EJCDC STANDARD FORM OF AGREEMENT BETWEEN OWNER AND CONTRACTOR ON THE BASIS OF A STIPULATED PRICE THIS AGREEMENT ("Agreement' or "Contract"), dated the day of .n the year 2007 by and between Indian River County, a political subdivision of the State of Florida (hereinafter called OWNER) and Wells & Water Systems. ins (hereinafter called CONTRACTOR). OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as follows: ARTICLE 1 WORK CONTRACTOR as an independent contractor and not as an employee shall furnish and complete all of the necessary labor, material, and equipment to perform the work as specified or indicated in the Contract Documents. The work is generally described as follows: The construction and testing of three 16-inch diameter production wells that withdrawal groundwater from the Upper Floridan aquifer for public supply use . The wells are expected to be drilled to a total depth of approximately 750 feet below land surface, with approximately 400 feet of 16-inch CERTA- LOK PVC final casing. Wellhead completion is limited to disinfecting the well and capping the well . ARTICLE 2 ENGINEER The project has been designed by PBS&J, 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 TIME 3 . 1 The CONTRACTOR shall be substantially completed with the remaining work Two hundred Seventy (270) calendar days after issuance of the Notice to Proceed, in accordance with Paragraph 2.03 of the General Conditions, and be completed and ready for final payment in accordance with Paragraph 14.07 of the General Conditions within Three hundred (300) calendar days after the issuance of the Notice to Proceed. 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 in a legal proceeding 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 four- hundred fifty dollars (5450.00) for each day that expires after the time specified in Paragraph 3 . 1 for Substantial Completion. If CONTRACTOR shall neglect, refuse or fail to complete the remaining work within the Contract Time or any proper extension thereof granted by OWNER, 6706-43015 - 155\8/30/07 00530- 1 VRB