Laserfiche WebLink
A. The Work will be substantially completed on or before the 180th day after the date when <br />the Contract Times commence to run as provided in paragraph 2.03 of the General <br />(W Conditions, and completed and ready for final payment in accordance with paragraph <br />14.07 of the General Conditions on or before the 210th 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 nce of this Agreement and <br />that OWNER will suffer financial loss if the Work i completed within the times <br />specified in paragraph 4.02 above, plus any extensions t f allow . in accordance with <br />Article 12 of the General Conditions. Liquidated damages nG e for this portion of <br />work. The parties also recognize the delays, ex nse, and di involved in proving in <br />a legal proceeding the actual loss suffered by NER if the is not c pleted on <br />time. Accordingly, instead of requiring any suc of, OWNE d CTOR <br />agree that as liquidated damages for , It no penalty), CTOR shall <br />pay OWNER $1,148.00 for each ar at after t e e specified in <br />paragraph 4.02 for Substantial Com n until Work bst ly complete. After <br />Substantial Completion, if CO RAC shall lett, re fail to complete the <br />remaining Work within the C t Tim proper a on thereof granted by <br />OWNER, CONTRACTOR shal NE 8.00 for each calendar day that expires <br />after the time specified in parag for c etion and readiness for final payment <br />until the Work is com eted and re f I pay <br />ARTICLE 5 -CONTRACT <br />5.01 OWNER ay CON T mpletion of the Work in accordance with the <br />Contract ts, an a t in t funds equal to the sum of the amounts <br />determined aragr .01.A and summarized in paragraph 5.01.13, below: <br />A. Work, a pri in NTRACTOR's Bid, attached hereto as an exhibit. <br />B. E CONTRACT subject to additions and deductions provided in the Contract:: <br />un <br />Written ;WAmo <br />ARTICLE 6 - PAYMENT PROCEDURES <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 />00520-3 <br />00520 - Agreement (Public Works) SAMPLE.doc F:IPublic WorksIENGINEERINGDlVISION PROJECTS\9334-12th Street 8 27th Avenue Intersection Improvements\Admimlagenda items\00520 -Agreement (Public Works) <br />SAMPLE.doc 6 6 <br />