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I I I I I I ii' I il I I II I, I I I I ,I I M,''''''"-~ 0400 - AGREEMENT \ THIS AGREEMENT is dated as of the day of in the year 1995 by and between Masterpiece Homes (hereinafter called OWNER) and (hereinafter called CONTRACTOR). OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as follows: Article 1. WORK CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents. The Work is generally described as follows: Rose Villa Roseville, Minnesota The project for which the Work under the Contract Documents may be the whole or only a part is generally described as follows: Sanitary Sewer, Watermain, storm Sewer, Street Construction and Rough Grading Article 1. ENGINEER The Project has been designed by Passe Engineering, Inc. 9445 East River Road, suite 203 Minneapolis, MN 55433 who is hereinafter called ENGINEER and who is to 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 completion of the Work in accordance with the Contract Documents. Article 3. CONTRACT TIMES 3.1 The Work will be substantially completed on or before November 15, 1995, and completed and ready for final payment in accordance with paragraph 14.13 of the General Conditions on or before July 30, 1996. 3.2 Liquidated Damages. OWNER and CONTRACTOR recognize that time is of the essence of this Agreement and that OWNER will suffer financial loss if the Work is not completed withinptRe times specified in paragraph 3.1 above, plus any extensions thereof allowed in accordance with Article 12 of the General Conditions. They also recognize the delays, expense, and difficulties involved in proving the actual loss suffered by OWNER if the Work is not completed on time. Accordingly, instead of requiring any such proof, OWNER and CONTRACTOR 0400-1