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STANDARD FORM OF AGREEMENT BETWEEN OWNER AND CONTRACTOR <br />This AGREEMENT made as of the 13th day of May, 2014, by and between the City of Roseville <br />(hereinafter called the OWNER) and Peterson Companies, Inc. (hereinafter called the CONTRACTOR). <br />This AGREEMENT WITNESSETH, that the OWNER and the CONTRACTOR, for the consideration <br />hereinafter stated, agree as follows: <br />ARTICLE 1. WORK <br />The CONTRACTOR hereby covenants and agrees to perform and execute all work generally described <br />here and in accordance with the provisions of the plans and specifications as prepared by the City of <br />Roseville, and referenced in Article 5, as approved by OWNER. <br />City of Roseville Parks and Recreation Renewal Program <br />Proposal Package E Lighting and Controls <br />Roseville Project Number: 003-2014 <br />and to do everything required by this Agreement and the Contract Documents. <br />ARTICLE 2. CONTRACT TIME <br />2.1 Completion — The CONTRACTOR agrees that the work contemplated by this contract shall be <br />fully and satisfactorily completed as stated in Section 2.4 DELIVERABLES of the Request for <br />Proposal Dated January 21, 2014 and titled "Project Schedule" and "Task timefraine", and in <br />accordance to the Contractors schedule approved by the owner and attached to this document. <br />2.2 Liquidated damages — OWNER and CONTRACTOR recognize that time is of the essence of this <br />Agreement and OWNER will suffer financial loss if the Work is not completed within the times <br />specified in Paragraph 2.1 above, plus any extensions thereof allowed in accordance with the <br />General Conditions. They also recognize the delays, expense and difficulties involved in <br />proving in a legal proceeding the actual loss suffered by OWNER if the Work is not completed <br />on time. Accordingly, instead of requiring any such proof, OWNER and CONTRACTOR agree <br />that as liquidated damages for delay (but not as a penalty) CONTRACTOR shall pay OWNER <br />eight -hundred dollars ($800.00) for each day that expired after the time specified in Paragraph <br />2.1 for Substantial Completion until the work is substantially complete. After Substantial <br />Completion, if CONTRACTOR shall neglect, refuse or fail to complete the remaining Work <br />within the Contract Time or any proper extension thereof granted by the OWNER, <br />CONTRACTOR shall pay OWNER eight -hundred dollars ($800.00) for each calendar day that <br />expires after the time specified in Paragraph 2.1 for completion and readiness fir final payment. <br />ARTICLE 3. CONTRACT PRICE <br />The OWNER agrees to pay and the CONTRACTOR agrees to receive and accept payment in <br />accordance with the prices bid for the unit, or lump sum items as set forth in the Conformed Copy of <br />Proposal, form hereto attached which prices shall conform to those in the accepted CONTRACTOR'S <br />Proposal on file in the office of the City Manager of the City of Roseville, Minnesota, the aggregate of <br />prices based on the Pre -Award Document, is $404,620.00. Final payment shall be made in accordance <br />with the CONTRACTOR'S Proposal Form in accordance with the General Conditions and Pre -Award <br />