02/25/2025 - Laserfiche WebLink

Home Browse Search

Bid Number: 2025007 Project Address: 1600 21 St. Vero Beach, FL 32960 1001 Sebastian Blvd. Sebastian, FL 32958 ARTICLE 3 - ENGINEER 3.01 The Indian River County Public Works Department is hereinafter called the ENGINEER and will act as OWNER's representative, assume all duties and responsibilities, and have the rights and authority assigned to ENGINEER in the Contract Documents in connection with the completion of the Work in accordance with the Contract Documents. ARTICLE 4 - CONTRACT TIMES 4.01 Time of the Essence A. All time limits for Milestones, if any, Substantial Completion, and completion and readiness for final payment as stated in the Contract Documents are of the essence of the Contract. 4.02 Days to Achieve Substantial Completion, Final Completion and Final Payment A. The Work will be substantially completed on or before the 150th calendar day after the date when the Contract Times commence to run as provided in paragraph 2.03 of the General Conditions, and completed and ready for final payment in accordance with paragraph 14.07 of the General Conditions on or before the 180th calendar day after the date when the Contract Times commence to run. 4.03 Liquidated Da s L 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 4.02 above, plus any extensions thereof allowed in accordance with Article 12 of the General Conditions. Liquidated damages will commence for this portion of work. The parties also recognize the delays, expense, and difficulties involved in proving in a legal proceeding the actual loss suffered by OWNER if the Work is not completed on time. Accordingly, instead of requiring any such proof, OWNER and CONTRACTOR agree that as liquidated damages for delay (but not as a penalty), CONTRACTOR shall pay OWNER $1,699.001 for each calendar day that expires after the time specified in paragraph 4.02 for Substantial Completion until the Work is substantially complete. After Substantial Completion, if CONTRACTOR shall neglect, refuse, or fail to complete the remaining Work within the Contract Time or any proper extension thereof granted by OWNER, CONTRACTOR shall pay OWNER $1,699.001 for each calendar day that expires after the 1 Reference for liquidated damages amount "Standard Specifications for Road & Bridge Construction, Florida Department of Transportation (FDOT) FY 2023-24, Section 8-10.2 for projects over $50,000 but less than $250,000. THE ACTUAL LIQUIDATED DAMAGES AMOUNT WILL BE BASED ON THE CONTRACT AMOUNT AWARD AMOUNT AND WILL BE DETERMINED USING THE REFERENCED FDOT CRITERIA. C:\Granicus\Legistar5\L5\Temp\8699e5d5-6c61-4913-909b-8cb67e6055db.docx 67