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2025 PAVEMENT MARKING AGREEMENT <br />THIS AGREEMENT is made and entered into this 17th day of September in the year 2025 by and <br />between: <br />CITY OF LOUISVILLE, COLORADO <br />(hereinafter called OWNER) <br />and <br />Barricade Holdings LLC d/b/a Colorado Barricade Company <br />(hereinafter called CONTRACTOR) <br />OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as <br />follows. <br />ARTICLE 1. WORK <br />CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents. The <br />Work is generally described as follows: <br />PROJECT: 2025 PAVEMENT MARKING PROJECT <br />PROJECT NUMBER: 301312-660311 <br />ARTICLE 2. CONTRACT TIMES <br />2.1 The CONTRACTOR shall substantially complete all work by November 30, 2025 and within <br />40 Contract Days after the date when the Contract Time commences to run indicated in the <br />Notice to Proceed. The Work shall be completed and ready for final payment in accordance <br />with paragraph 14.13 of the General Conditions. <br />2.2 LIQUIDATED DAMAGES. The OWNER and the CONTRACTOR agree and recognize that <br />time is of the essence in this contract and that the OWNER will suffer financial loss if the Work <br />is not substantially complete by the date specified in paragraph 2.1 above, plus any extensions <br />thereof allowed in accordance with the Article 12 of the General Conditions. OWNER and <br />CONTRACTOR also agree that such damages are uncertain in amount and difficult to <br />measure accurately. Accordingly, the OWNER and CONTRACTOR agree that as liquidated <br />damages, and not as a penalty, for delay in performance the CONTRACTOR shall pay the <br />OWNER FIVE HUNDRED DOLLARS ($500) for each and every Contract Day and portion <br />thereof that expires after the time specified above for substantial completion of the Work until <br />the same is finally complete and ready for final payment. The liquidated damages herein <br />specified shall only apply to the CONTRACTOR's delay in performance, and shall not include <br />litigation or attorneys' fees incurred by the OWNER, or other incidental or consequential <br />damages suffered by the OWNER due to the CONTRACTOR's performance. If the OWNER <br />charges liquidated damages to the CONTRACTOR, this shall not preclude the OWNER from <br />commencing an action against the CONTRACTOR for other actual harm resulting from the <br />CONTRACTOR's performance, which is not due to the CONTRACTOR's delay in <br />performance. <br />26 <br />2025 Pavement Marking Project <br />