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2018-191A
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Last modified
1/4/2021 1:05:56 PM
Creation date
1/4/2021 1:03:42 PM
Metadata
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Template:
Official Documents
Official Document Type
Contract
Approved Date
10/16/2018
Control Number
2018-191A
Agenda Item Number
8.I.
Entity Name
IUndian Rivern County
Subject
Victor Hart Sr. Drainage Improvements
Project Number
IRC-1760
Bid Number
20190005
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Bid No. 2019005/IRC-1760 <br />3.3 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 $1,665.00 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 the <br />sum of the amounts determined pursuant to paragraph 4.01.A and summarized in paragraph 4.01.13, <br />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: $ 591,143.00 <br />Written Amount: Five hundred ninety — one thousand one hundred forty three dollars <br />ARTICLE 5 - PAYMENT PROCEDURES <br />5.1 Progress Payments. <br />A. The OWNER shall make progress payments to the CONTRACTOR on the basis of the approved <br />partial payment request as recommended by ENGINEER in accordance with the provisions <br />of the Local Government Prompt Payment Act, Florida Statutes section 218.70 et. seq. The <br />OWNER shall retain ten percent (10%) of the payment amounts due to the CONTRACTOR <br />until fifty percent (50%) completion of the work. After fifty percent (50%) completion of the <br />work is attained as certified to OWNER by ENGINEER in writing, OWNER shall retain five <br />percent (5%) of the payment amount due to CONTRACTOR until final completion and <br />acceptance of all work to be performed by CONTRACTOR under the Contract Documents. <br />Pursuant to Florida Statutes section 218.735(8)(b), fifty percent (50%) completion means <br />the point at which the County as OWNER has expended fifty percent (50%) of the total cost <br />of the construction services work purchased under the Bid and Specification Documents, <br />together with all costs associated with existing change orders and other additions or <br />modifications to the construction services work provided under the Contract Documents. <br />
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