City Council Agenda and Packet 2010 04 06

Home Browse Search

AGREEMENT THIS AGREEMENT is made and entered into this ________day of ____________ in the year 2010 by and between: CITY OF LOUISVILLE, COLORADO (hereinafter called OWNER) and PLM Asphalt & Concrete, Inc. (hereinafter called CONTRACTOR) OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as follows. ARTICLE1.WORK CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents. The Work is generally described as follows: PROJECT: 2010 PAVEMENT CRACK SEAL PROJECT PROJECT NUMBER: 010-431-52210-02 ARTICLE2.CONTRACTTIMES 2.1 The CONTRACTOR shall substantially complete all work by May 18, 2010 and within 30 Consecutive Contract Days after the date when the Contract Time commences to run. The Work shall be completed and ready for final payment in accordance with paragraph 14.13 of the General Conditions within 40 Consecutive Contract Days after the date when the Contract Times commence to run. The Contract Times shall commence to run on the day indicated in the Notice to Proceed. 2.2 LIQUIDATED DAMAGES. The OWNER and the CONTRACTOR agree and recognize that time is of the essence in this contract and that the OWNER will suffer financial loss if the Work is not substantially complete by the date specified in paragraph 2.1 above, plus any extensions thereof allowed in accordance with the Article 12 of the General Conditions. OWNER and CONTRACTOR also agree that such damages are uncertain in amount and difficult to measure accurately. Accordingly, the OWNER and CONTRACTOR agree that as liquidated damages, and not as a penalty, for delay in performance the CONTRACTOR shall pay the OWNER SEVENTY DOLLARS ($70) for each and every Contract Day and portion thereof that expires after the time specified above for substantial completion of the Work until the same is finally complete and ready for final payment. The liquidated damages herein specified shall only apply to the CONTRACTOR’s delay in performance, and shall not include litigation or attorneys’ fees incurred by the OWNER, or other incidental or consequential damages suffered by the OWNER due to the CONTRACTOR’s performance. If the OWNER charges liquidated damages to the CONTRACTOR, this shall not preclude the OWNER from commencing an action against the CONTRACTOR for other actual harm resulting form the CONTRACTOR’s performance, which is not due to the CONTRACTOR’s delay in performance. 26 2010 Pavement Crack Seal Project íî