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STANDARD FORM OF AGREEMENT BETWEEN OWNER AND CONTRACTOR This AGREEMENT made as of the day of May, 2014, by and between the City of Roseville (hereinafter called the OWNER) and Knutson Construction (hereinafter called the CONTRACTOR). This AGREEMENT WITNESSETH, that the OWNER and the CONTRACTOR, for the consideration hereinafter stated, agree as follows: ARTICLE 1. WORK The CONTRACTOR hereby covenants and agrees to perform and execute all wark generally described here and in accordance with the provisions of the plans and specifications as prepared by the City of Roseville, and referenced in Article 5, as approved by OWNER. City of Roseville Parks and Recreation Renewal Program Proposal Package A Park Buildings and Shelters Roseville Project Number: 001-2014 and to do everything required by this Agreement and the Contract Documents. ARTICLE 2. CONTRACT TIME 2.1 Completion — The CONTRACTOR agrees that the wark contemplated by this contract shall be fully and satisfactorily completed as stated in the Special Conditions and titled "Execution of the Wark and Completion Dates". 22 Liquidated damages — OWNER and CONTRACTOR recognize that time is of the essence of this Agreement and OWNER will suffer financial loss if the Wark is not completed within the times specified in Paragraph 2.1 above, plus any extensions thereof allowed in accordance with the General Conditions. They also recognize the delays, expense and difficulties involved in proving in a legal proceeding the actual loss suffered by OWNER if the Wark 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 eight-hundred dollars ($800.00) for each day that expired after the time specified in Paragraph 2.1 for Substantial Completion until the wark is substantially complete. After Substantial Completion, if CONTRACTOR shall neglect, refuse or fail to complete the remaining Wark within the Contract Time or any proper extension thereof granted by the OWNER, CONTRACTOR shall pay OWNER eight-hundred dollars ($800.00) for each calendar day that expires after the time specified in Paragraph 2.1 for completion and readiness fir final payment. ARTICLE 3. CONTRACT PRICE The OWNER agrees to pay and the CONTRACTOR agrees to receive and accept payment in accordance with the prices bid for the unit, or lump sum items as set forth in the Conformed Copy of Proposal, form hereto attached which prices shall conform to those in the accepted CONTRACTOR'S Proposal on file in the office of the City Manager of the City of Roseville, Minnesota, the aggregate of prices based on the Pre-Award Document, is $6,542,934. Final payment shall be made in accordance with the CONTRACTOR'S Proposal Form in accordance with the General Conditions and Pre-Award Document.