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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 Southland <br /> Painting Corporation (hereinafter called CONTRACTOR). <br /> OWNER and CONTRACTOR,in consideration of the mutual covenants hereinafter set forth,agree as 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 /> Secondary Containment Coating at South County RO Facility <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: Secondary Containment Coating at South County RO Facility <br /> Bid Number: 2016038 <br /> i <br /> Project Address: South County RO <br /> I 1550 91h Street SW <br /> Vero Beach, FL 32962 <br /> ARTICLE 3-CONTRACT TIMES <br /> 3.01 Time of the Essence <br /> A. All time limits for Milestones, if any,Substantial Completion,and completion and readiness for final <br /> payment as stated in the specifications are of the essence of the Contract. <br /> 3.02 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 /> 3.03 Liquidated Damages <br /> A. CONTRACTOR and OWNER recognize that time is of the essence of this Agreement and that OWNER <br /> will suffer financial loss if the Work is not completed within the times specified in paragraph 3.02 <br /> above, plus any extensions thereof allowed in writing as a change order to this agreement. <br /> Liquidated damages will commence for this portion of work. The parties also recognize the delays, <br /> expense,and difficulties involved in proving in a legal proceedingthe actual loss suffered by OWNER <br /> if the Work is not completed on time. Accordingly,instead of requiring any such proof,OWNER and <br /> CONTRACTOR agree that as liquidated damages for delay(but not as a penalty),CONTRACTOR shall <br /> 1 <br />