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2017038 Lateral D Canal Rehabilitation <br />Sample 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 <br />(hereinafter called CONTRACTOR). OWNER and CONTRACTOR, in consideration of the mutual covenants <br />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 />Repair damage caused to the Lateral D Canal as a result of Hurricane Matthew, including.. <br />improvements to two valve box structures to prevent reoccurrence of similar damage. <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 <br />generally described as follows: <br />Project Name: Lateral D Canal Rehabilitation <br />Bid Number: 2017038 <br />Project Address: 7420 eh Street, Vero Beach, Florida 32968. <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 <br />final 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 fully completed (Final Completion) and ready for final payment on or before the <br />30th day from the date the Contract Time commences as set. forth in the Notice -to -Proceed. <br />Additionally, all Work within the Lateral D Canal shall be completed within 21 consecutive <br />calendar days once that Work begins within the canal. <br />3.03 Liquidated Damages <br />A. CONTRACTOR and OWNER recognize that time is of the essence for this Agreement and that <br />OWNER will suffer financial loss if (1) the Work is not completed on or before the time specified in <br />Article 5 above, plus any extensions thereof allowed; and (2) if Work within the Lateral D Canal is <br />not completed within 21 consecutive calendar days after said Work begins within the canal. The <br />parties also recognize the delays, expense, and difficulties involved in proving in a legal proceeding <br />Page 20 of 33 <br />P61 <br />