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3:02 Daysto Achieve Substantial Completion, final Campletion:and Final Payment' A. The Work will be completed and ready for final payment on or before the 60th day after the date when the. Contract Times commence to run. 3.03 Liquidated Damages A. CONTRACTOR and OWNER recognize that time is of the essence of this Agreement and that OWNER will suffer financial loss if the Work is not completed within the times specified in paragraph 3.02 above, plus any extensions thereof allowed in writing as .a change order to this Agreement. Liquidated damages will commence for this portion of work. The parties also recognize -the delays, expense, and difficulties involved in proving in a legal proceedingthe actual loss.suffered byOWNER F:\Purchas1ng\Bids\2o17-2018 H (2018000)\2018033 RFP for Blue Cypress Culvert Replacement\Agreement.docx Page i of 11- - . . Agreement THIS AGREEMENT is by and between INDIAN RIVER COUNTY- a Political. Subdivision of the State of Florida organized and existing under the Laws of the State of Florida, (hereinafter called OWNER) and Hinterland Group, Inc. (hereinafter Called CONTRACTOR). OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth agree as follows: g y = ARTICLE 1- WORK CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents. The Work is 4. generally described as follows: The project will consist of the replacement of an existing culvert crossing Blue Cypress Lake Road ''• located north of State Road 60 and east of the Florida's Turnpike. The proposed pipe to be constructed will be :a 38"x6'0" Elliptical Reinforced Concrete Pipe (ERCP), with concrete end walls added to the.pipe ends. Other work will include temporary canal bypass, temporary sheet pile, earthwork; pavement replacement, `} maintenance of traffic, erosion control and any other incidental work required to complete the project. i ARTICLE 2 -THE PROJECT { The Project for which the Work under the Contract Documents may be the whole or only a part is generally described as follows: Project Name, BLUE CYPRESS LAKE ROAD CULVERT REPLACEMENT Bid Number:: 2018033 Project Address:. Blue Cypress Lake Road, Vero Beach, Florida 32966 ARTICLE 3 --"CONTRACT TIMES 3.01 .Time of :the Essence A. All time limits for Milestones, if any, Substantial Completion, and completion and' readiness forfinal payment as stated in the specifications are of the essence of the Agreement: 3:02 Daysto Achieve Substantial Completion, final Campletion:and Final Payment' A. The Work will be completed and ready for final payment on or before the 60th day after the date when the. Contract Times commence to run. 3.03 Liquidated Damages A. CONTRACTOR and OWNER recognize that time is of the essence of this Agreement and that OWNER will suffer financial loss if the Work is not completed within the times specified in paragraph 3.02 above, plus any extensions thereof allowed in writing as .a change order to this Agreement. Liquidated damages will commence for this portion of work. The parties also recognize -the delays, expense, and difficulties involved in proving in a legal proceedingthe actual loss.suffered byOWNER F:\Purchas1ng\Bids\2o17-2018 H (2018000)\2018033 RFP for Blue Cypress Culvert Replacement\Agreement.docx Page i of 11- - . .