2000-181-RES AWARDING THE BID AND AUTHORIZING THE

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AGREEMENT THIS AGREEMENT is dated as of the II th the, year 20~ by and between City (hereinafter called OWNER) and Stephens (hereinafter called CONTRACTOR) . day of December in of; Paris, Paris, Texas, & Sons Concrete 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: 2550 LF 6" watermain, 110 LF 2" watermain, 6 fire hydrant assemblies; 26 water customer services, 2090 LF 8" sanitary sewer, 5 manholes, 18 sanitary sewer customer services, 6744 SY reinforced concrete street paving, 3 Type C inlets, 8 Type E inlets, 48 LF 15" RCP storm sewer, 320 LF 48" RCP storm sewer, 570 LF 8' concrete flat bottom ditch, 1052 LF 14' concrete flat bottom ditch with other appurtenant construction, complete in place. The Project for which the Work under the Contract Documents may be the whole or only a part is generally described as follows: Martin Luther King Drive, Paving, Drainage, Water and Sewer Improvements, 6th NE to North Main. Article 2. ENGINEER. The Project has been designed by City Engineer, City of Paris, Paris, Texas, or his authorized representative, who is hereinafter call 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 TIME. 3.1 The Work will be substantially completed within 203 days from the date when the Contract Time commences to run as provided in paragraph 2.3 of the General Conditions, and completed and ready for final payment in accordance with paragraph 14.13 of General Conditions within 233 days from the date when the Contract Time commences to run. 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 within the 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 in a legal or arbitration proceeding the actual loss suffered by OWNER if the Work is not completed on time. 21 EXHIBIT A