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2016040-Cart Path Repairs <br /> Agreement <br /> THIS AGREEMENT is by and between INDIAN RIVER COUNTY, a Political Subdivision of the State of Florida <br /> organized and existing under the Laws of the State of Florida,(hereinafter called OWNER)and <br /> SRS Services, LLC <br /> (hereinafter called CONTRACTOR). <br /> OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as <br /> follows: <br /> ARTICLE 1-WORK <br /> 1.01 CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents. The <br /> Work is generally described as follows: <br /> Miscellaneous cart path repairs and improvements at Sandridge Golf Course. <br /> ARTICLE 2-THE PROJECT <br /> 2.01 The Project for which the Work under the Contract Documents may be the whole or only a part is <br /> generally described as follows: <br /> Project Name: Dunes Course Golf Cart Concrete Path Repairs <br /> Bid Number: 2016040 <br /> Project Address: Sandridge Golf Club <br /> 5300 73rd Street <br /> Vero Beach, FL 32967 <br /> ARTICLE 3-CONTRACT TIMES <br /> 3.1 Time of the Essence <br /> A. All time limits for Milestones, if any, Substantial Completion, and completion and readiness for <br /> final payment as stated in the specifications are of the essence of the Contract. <br /> 3.2 Days to Achieve Substantial Completion,Final Completion and Final Payment <br /> A. The Work will be completed and ready for final payment on or before the 90th day after the date <br /> when the Contract Times commence to run. <br /> 3.3 Liquidated Damages <br /> A. CONTRACTOR and OWNER recognize that time is of the essence of this Agreement and that <br /> OWNER will suffer financial loss if the Work is not completed within the times specified in <br /> paragraph 3.02 above, plus any extensions thereof allowed in writing as a change order to this <br /> agreement. Liquidated damages will commence for this portion of work.The parties also recognize <br /> the delays, expense, and difficulties involved in proving in a legal proceeding the actual loss <br /> suffered by OWNER if the Work is not completed on time. Accordingly, instead of requiring any <br /> such proof, OWNER and CONTRACTOR agree that as liquidated damages for delay (but not as a <br /> Page 22 of 31 <br />