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Van Antwerp Well Mitigation Bid Documents 1-16-18.docx8 <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 $400.00 for each calendar day that expires after the time specified in paragraph 3.02 <br />for completion and readiness for final payment until the Work is completed and ready for final <br />payment. <br />ARTICLE 4 - CONTRACT PRICE <br />4.1 OWNER shall pay CONTRACTOR for completion of the Work an amount in current funds equal to <br />the sum of the amounts determined pursuant to paragraph 4.01.A and summarized in paragraph <br />4.01.6, below: <br />A. For all Work, at the prices stated in CONTRACTOR's Bid, attached hereto as an exhibit. <br />B. THE CONTRACT SUM subject to additions and deductions provided in the Contract Documents: <br />Numerical Amount: $ 107,140.00 <br />Written Amount: One Hundred Seven Thousand One Hundred Forty Dollars <br />ARTICLE 5 - PAYMENT PROCEDURES <br />5.1 Method of Payment <br />Owner shall make only one payment for the entire amount of the contract when the work has been <br />satisfactorily completed. Upon a determination of satisfactory completion, the COUNTY Project <br />Manager or Engineer will authorize payment to be made. All payments for services shall be made <br />to the CONTRACTOR by the COUNTY in accordance with the Local Government Prompt Payment <br />Act, as may be amended from time to time (Section 218.70, Florida Statutes, et seq.). <br />5.2 Acceptance of Final Payment as Release <br />The acceptance by the CONTRACTOR of final payment shall be and shall operate as a release to the OWNER <br />from all claims and all liability to the CONTRACTOR other than claims in stated amounts as may be <br />specifically excepted by the CONTRACTOR for all things done or furnished in connection with the <br />work under this Agreement and for every act and neglect of the OWNER and others relating to or <br />arising out of the work. Any payment, however, final or otherwise, shall not release the <br />CONTRACTOR or its sureties from any obligations under this Agreement, the Invitation to Bid or the <br />Public Construction Bond. <br />5.3 Paragraphs 5.01 and 5.02 do not apply to construction services work purchased by the County as <br />OWNER which are paid for, in whole or in part, with federal funds and are subject to federal grantor laws <br />and regulations or requirements that are contrary to any provision of the Local Government Prompt <br />54 <br />