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That Contractor guarantees to repair, replace or otherwise make good to the <br />satisfaction of the County any defect in workmanship or material appearing in the Work, and <br />further guarantees the successful performance of the Work for the service intended. <br />Neither inspection nor payment, including final payment, by the County shall relieve the <br />Contractor or its Surety from his or its obligations to do and complete the Work in <br />accordance with this Contract. If the County deems it inexpedient to require the Contractor <br />to correct deficient or defective Work, an equitable deduction from the contract price shall <br />be made therefore or in the alternative, if the expense incurred by the County to correct <br />deficient or defective Work exceeds the unpaid balance on this Contract, the Contractor <br />shall pay the difference to the County. The liability of the Contractor and its surety or <br />sureties for such payment is joint and several. <br />6. TERM <br />Unless terminated as provided for herein, the term of this Contract shall be for a <br />period of five (5) years from the date first written above. Upon mutual agreement, the <br />parties may extend the terms of the Contract for one (1) additional three-year term. <br />The Work shall be conducted in such a manner and with sufficient labor, materials, <br />tools, and equipment necessary to complete the Work within the time limit set forth in the <br />Contract. Should the organization of the Contractor, or its management, or the manner of <br />carrying on the work be manifestly incompetent, or inadequate to do the work specified within <br />the stated time, then the County shall have the right to take charge of the work and finish <br />it and provide the labor, materials and equipment necessary to complete the work as planned <br />within the required time and to charge the cost of all such work against the Contractor and <br />his, or its surety shall be held responsible therefore. The Contractor fully understands and <br />agrees that the County shall not pay for any obligations or expenditure made by the <br />Contractor prior to the effective date of this Contract, unless the County authorizes such <br />payment in writing. <br />7. CONTRACT PAYMENT <br />The Contractor shall pay to the County for the performance of this Contract at the <br />rate of 52.75% of revenue of Number 2 Bundle price based on Birmingham Market at the <br />time the materials are removed from the St. Lucie County Solid Waste Baling & Recycling <br />Facility. Payment shall be made within 20 days of removal of materials from the St. Lucie <br />County Solid Waste Baling & Recycling Facility. <br />-3- <br />