Laserfiche WebLink
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) <br /> and PARKSON 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 /> CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents. The Work is <br /> generally described as follows: <br /> Headworks Screen and Compaction Equipment Refurbishment at the Central Regional Facility located at <br /> 3550 49th Street,Vero Beach and the West Regional Facility located at 8405 8th Street,Vero Beach. <br /> ARTICLE 2-THE PROJECT <br /> The Project for which the Work under the Contract Documents may be the whole or only a part is generally <br /> described as follows: <br /> Project Name: Headworks Screen and Compaction Equipment Refurbishment <br /> Bid Number: 2016037 <br /> Project Address: Central Regional Facility located at 3550 49th Street,Vero Beach <br /> and the West Regional Facility located at 8405 8th Street, Vero <br /> Beach. <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 Agreement. <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 120th 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 proceeding the 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 /> pay OWNER$1,148.00 for each calendar day that expires after the time specified in paragraph 3.02 <br /> Page 1 of 7 <br /> 244 <br />