Laserfiche WebLink
Conditions, and completed and ready for final payment in accordance with paragraph <br /> 14.07 of the General Conditions on or before the 1501h day after the date when the <br /> Contract Times commence to run. <br /> 4.03 Liquidated Damages <br /> A. CONTRACTOR and OWNER recognize that time is of the essence of this Agreement and <br /> that OWNER will suffer financial loss if the Work is not completed within the times <br /> specified in paragraph 4.02 above, plus any extensions there R Ilowed in accordance with <br /> Article 12 of the General Conditions. Liquidated damages. M ommence for this portion of <br /> work. The parties also recognize the delays, expense, a ifficulties involved in proving in <br /> a legal proceeding the actual loss suffered by OWNER Wo r• not completed on <br /> time. Accordingly, instead of requiring any such proof, nd CONTRACTOR <br /> agree that as liquidated damages for delay (b of as a pen CONTRACTOR shall <br /> pay OWNER $1,148.00 for each calendar da t expires a e timvecified in <br /> paragraph 4.02 for Substantial Completio til th rk is substa ete. After <br /> Substantial Completion, if CONTRAC. neg refuse, or complete the <br /> remaining Work within the Contra a or pro xtensio hereof granted by <br /> OWNER, CONTRACTOR shall pay R 1 X00 for c'l ar day that expires <br /> after the time specified in par h 4. co tion an mess for final payment <br /> until the Work is completed an for fi ent. <br /> ARTICLE 5 - CONTRACT PRICE <br /> 5.01 OWNER shall pa CTO R x co tion o the Work in accordance with the <br /> Contract Documents, x t in Trent s equal to the sum of the amounts <br /> determined pursuant to ra nd su marized in paragraph 5.01.13, below: <br /> A. For all Wo ices sta CO 4: CTOR's Bid, attached hereto as an exhibit. <br /> B. x. ONT SU t to lk'tions and deductions provided in the Contract:: <br /> Numerical A <br /> t: <br /> ARTICLE 6 - PAYM, k ROCEDURES <br /> 6.01 Submittal and Processing of Payments <br /> A. CONTRACTOR shall submit Applications for Payment in accordance with Article 14 <br /> of the General Conditions. Applications for Payment will be processed by <br /> ENGINEER as provided in the General Conditions and the Contract Documents. <br /> 6.02 Progress Payments. <br /> A.The OWNER shall make progress payments to the CONTRACTOR on the basis of <br /> the approved partial payment request as recommended by ENGINEER in <br /> accordance with the provisions of the Local Government Prompt Payment Act, <br /> Florida Statutes section 218.70 et. seq. The OWNER shall retain ten percent <br /> 00520-Agreement(Public Works)SAMPLE.doc <br /> 00520-3 3 6 <br /> F:\Public Works\ENGINEERING DIVISION PROJECTS\t 132-CR 512 Ebnd Resurfacing Roseland Rd to Easy St-SEE PROJ 0926\Admim\agenda items\00520-Agreement <br /> (Public Works)SAMPLE.doc <br />