My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
04-12-21-R
ArdenHills
>
Administration
>
City Council
>
City Council Packets
>
2020-2029
>
2021
>
04-12-21-R
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/8/2021 2:52:22 PM
Creation date
4/8/2021 2:45:26 PM
Metadata
Fields
Template:
General
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
402
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
Hamline Avenue and Shorewood Drive Improvements AGREEMENT <br />PW-20-0103 2 of 5 <br />3.02 Liquidated Damages: Contractor and Owner recognize that time is of the essence as stated above <br />and that Owner will suffer financial and other losses if the Work is not completed and Milestones <br />not achieved within the times specified in Paragraph 3.01 above, plus any extensions thereof <br />allowed in accordance with the Contract. The parties also recognize that delays, expense, and <br />difficulties involved in proving in a legal or arbitration 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; <br />A.Substantial Completion: Contractor shall pay Owner $1,500.00 for each day that expires after <br />the time specified in Paragraph 3.01 above for Substantial Completion until the Work is <br />substantially complete, as duly adjusted pursuant to the Contract. <br />B.Completion of Remaining Work: After Substantial Completion, if Contractor shall neglect, <br />refuse, or fail to complete the remaining Work within the Contract Time for completion and <br />readiness for final payment, as duly adjusted pursuant to the Contract, Con tractor shall pay <br />Owner $500.00 for each day that expires after such time until the Work is completed and ready <br />for final payment. <br />C.Liquidated damages for failing to timely attain Substantial Completion and final completion are <br />not additive and will not be imposed concurrently. <br />ARTICLE 4 – CONTRACT PRICES <br />4.01 <br />4.02 <br />4.03 <br />4.04 <br />The Owner shall pay the Contractor for the performance of this Agreement according to the <br />schedule of approximate quantities and unit prices as set out in the Contract Documents <br />submitted by the Contractor on March 17, 2021, the aggregate of which is estimated to be <br />$133,421.65. <br />The Contract shall include all items as provided on the Proposal Form. <br />Payment is based an amount equal to the sum of the extended prices, established for each <br />separately identified item of Unit Price Work by multiplying the unit price times the actual quantity <br />of that item completed and accepted by the Engineer. <br />The extended prices for Unit Price Work set forth as of the Effective Date of the Contract are <br />based on estimated quantities. As provided in Paragraph 13.03 of the General Conditions, <br />estimated quantities are not guaranteed, and determination of actual quantities and classifications <br />are to be made by the Engineer. <br />ARTICLE 5 – PAYMENT PROCEDURES <br />5.01 Progress Payments: Owner shall make progress payments on account of the Contract Price on <br />the basis of Contractor’s Applications for Payment on or about the 10th day of each month during <br />performance of the Work as provided in Paragraph 5.02 below, provided that such Applications for <br />Payment have been submitted in a timely manner and otherwise meet the requirements of the <br />Contract. All such payments will be measured by the Schedule of Values established as provided <br />in the General Conditions (and in the case of Unit Price Work based on the number of units <br />completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract. <br />5.02 Retainage: Prior to Substantial Completion, progress payments will be made in an amount equal <br />to the percentage indicated below but, in each case, less the aggregate of payments previously <br />made and less such amounts as Owner may withhold, including but not limited to liquidated <br />damages, in accordance with the Contract. <br />A.Ninety-five (95) percent of Work completed (with the balance being retainage); and <br />B.No payment shall be made for materials and equipment not incorporated into the Work. <br />5.03 Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to <br />Contractor to 100 percent of the Work completed, less such am ounts set-off by Owner pursuant to <br />Paragraph 15.01E of the General Conditions, and less 200 percent of Engineer’s estimate of the
The URL can be used to link to this page
Your browser does not support the video tag.