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<br />AGREEMENT <br /> <br />THIS AGREEMENT is dated as of the 15day of .1ul y <br />Paris, Paris, Texas, (hereinafter called OWNER) and <br />Hwy 37. Mineral Wells. Texas <br /> <br />in the year 19~ by and between City of <br />Corrosion Eliminators. P.O. Box 1546-1002. <br /> <br />OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as <br />follows: <br /> <br />Article 1. WORK. <br /> <br />CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents. The Work <br />is generally described as follows: Repair, metal preparation and coating of all interior and exterior <br />surfaces of two (2) two million gallon steel ground storage water tanks. <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: Rehabilitation and Painting of Two (2) - Two million gallon steel <br />ground storage water tanks, City of Paris, Paris, Texas <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 called 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 the <br />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 -12ll- days from the date when the Contract Time <br />commences to run as provided in paragraph 2.3 of the General Conditions, and completed and ready for <br />final payment in accordance with paragraph 14.13 of General Conditions within ~ days from the date <br />when the Contract Time commences to run. <br /> <br />3.2 Liquidated Damages. OWNER and CONTRACTOR recognize that time is of the essence of this <br />Agreement and that OWNER will suffer financial loss if the Work is not completed within the times <br />specified in paragraph 3.1 above, plus any extensions thereof allowed in accordance with Article 12 of <br />the General Conditions. They also recognize the delays, expense and difficulties involved in proving in a <br />legal or arbitration proceeding the actual loss suffered by OWNER if the Work is not completed on time. <br />Accordingly, instead of requiring any such proof, OWNER and CONTRACTOR agree that as liquidated <br />damages for delay <br />(but not as a penalty) CONTRACTOR shall pay OWNER One hundred fifty and No/100 dollars $ <br />15000 ) <br /> <br />18 <br /> <br />EXHIBIT A <br />