City Council Agenda and Packet 2010 10 05

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THIS AGREEMENT is made and entered into this 5th day of October in the year 2010 by and between: 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: PROJECT: 2010 Soft Surface Trails Resurfacing PROJECT NUMBER: 028 - 799 - 55330.06 ARTICLE 2. CONTRACT TIMES AGREEMENT CITY OF LOUISVILLE, COLORADO (hereinafter called OWNER) and AGE Inc. (hereinafter called CONTRACTOR) 2.1 The CONTRACTOR shall substantially complete all work within 35 Consecutive Contract Days (No work allowed on Saturday and Sunday) 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 45 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 ONE THOUSAND FIVE HUNDRED DOLLARS ($1,500) 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. 2010 Soft Surface Trail Resurfacing 30 30