Laserfiche WebLink
SECTION 00520 - AGREEMENT <br />BETWEEN OWNER AND CONTRACTOR <br />FOR CONSTRUCTION CONTRACT (STIPULATED PRICE) <br />THIS AGREEMENT is by and between <br />Owner and Contractor hereby agree as follows: <br />ARTICLE 1— WORK <br />1.01 Contractor shall complete all Work as specified or indicated in the Contract Documents. The Work is generally <br />described as follows: Riverdale Drive Extension Improvements <br />("Owner") and <br />("Contractor"). <br />ARTICLE 2 — THE PROJECT <br />2.01 The Project, of which the Work under the Contract Documents is a part, is generally described as follows: <br />Extend Riverdale Drive NW from Traprock Street NW to Ramsey Boulevard NW. <br />ARTICLE 3 — ENGINEER <br />3.01 The part of the Project that pertains to the Work has been designed by Bolton & Menk, Inc. <br />3.02 The Owner has retained Bolton & Menk, Inc., to act as Owner's representative, assume all duties and <br />responsibilities, and have the rights and authority assigned to Engineer in the Contract Documents in connection <br />with the completion of the Work in accordance with the Contract Documents. <br />ARTICLE 4 — CONTRACT TIMES <br />4.01 Time of the Essence <br />A. All time limits for Milestones, if any, Substantial Completion, and completion and readiness for final <br />payment as stated in the Contract Documents are of the essence of the Contract. <br />4.02 Contract Times: Dates <br />A. The Work will be substantially completed on or before September 29, 2017, and completed and ready for <br />final payment in accordance with Paragraph 15.06 of the General Conditions on or before October 27, <br />2017. <br />1. Substantial Completion shall be approved once curb & gutter is in place and the first lift of bituminous <br />pavement in place and the roadway is open to traffic. <br />4.03 Liquidated Damages <br />A. Contractor and Owner recognize that time is of the essence as stated in Paragraph 4.01 above and that <br />Owner will suffer financial and other losses if the Work is not completed and Milestones not achieved <br />within the times specified in Paragraph 4.02 above, plus any extensions thereof allowed in accordance <br />with the Contract. The parties also recognize the delays, expense, and difficulties involved in proving in a <br />legal or arbitration proceeding the actual loss suffered by Owner if the Work is not completed on time. <br />Accordingly, instead of requiring any such proof, Owner and Contractor agree that as liquidated damages <br />for delay (but not as a penalty): <br />City of Ramsey - R16.111092 <br />April 5, 2017 <br />AGREEMENT <br />PAGE 00520 -1 <br />© Bolton & Menk, Inc. 2016, All Rights Reserved <br />