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<br />AGREEMENT <br /> <br />I <br />THIS AGREEMENT is dated as ofthe 12th day of November in the year 200 1 by and between City <br />of Paris, Paris, Texas, (hereinafter called OWNER) and Hansen & Associates, Inc. (hereinafter called <br />CONTRACTOR). <br /> <br />OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree <br />as follows: <br /> <br />Article 1. WORK. <br /> <br />CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents. The <br />Work is generally described as follows: reconstruction of structural framing, and exterior insulation <br />and finish system application and other appurtenant construction, complete in place. <br /> <br />The Project for which the Work under the Contract Documents may be the whole or only a part is <br />generally described as follows: GATEWAY PROJECT REPAIR. <br /> <br />Article 2. ENGINEER. <br /> <br />The Project has been designed by City Engineer, City of Paris, Paris, Texas, or his authorized <br />representative, who is hereinafter call ENGINEER and who is to act as OWNER'S representative, <br />assume all duties and responsibilities and have the rights and authority assigned to ENGINEER in <br />the Contract Documents in connection with completion of the Work in accordance with the Contract <br />Documents. <br /> <br />Article 3. CONTRACT TIME. <br /> <br />3.1 The Work will be substantially completed within AL days from the date when the Contract <br />Time commences to run as provided in paragraph 2.3 ofthe General Conditions, and completed and <br />ready for final payment in accordance with paragraph 14.13 of General Conditions within 60 days <br />from the date when the Contract Time commences to run. <br /> <br />3.2 Liquidated Damages. OWNER and CONTRACTOR recognize that time is of the essence of <br />this Agreement and that OWNER will suffer financial loss ifthe Work is not completed within the <br />times specified in paragraph 3.1 above, plus any extensions thereof allowed in accordance with <br />Article 12 of the General Conditions. They also recognize the delays, expense and difficulties <br />involved in proving in a legal or arbitration proceeding the actual loss suffered by OWNER ifthe <br />Work is not completed on time. Accordingly, instead ofrequiring any such proof, OWNER and <br />CONTRACTOR agree that as liquidated damages for delay (but not as a penalty) CONTRACTOR <br />shall pay OWNER One hundred and noli 00 dollars $ 100.00 ) <br /> <br />EXHIBIT A <br /> <br />13 <br />