1992-053-RES WHEREAS, the City Council of the City of Paris did, in Resolution No. 92-039 on June 4, 1992, approve

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AGREEMENT THIS AGREEJ.'1ENT year 1992 by call Preload, Inc. called CONTRACTOR). is dated as of the and between City of e d 0 W 13th day of Paris t Paris, N E R Julv Texas in the (hereinafter and (hereinafter 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: Construction of a 4 MG Precast Ground Storage Reservoir The Project for which the Work under the Contract Documents may be the whole or only a part is generally described as follows: Article 2. ENGINEER The Project has been designed by Hayter Engineering, Inc., Paris, Texas, who is hereinafter called 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 and ready for final payment within 300 days from the date when the Contract Time commences to run, as provided in the General Conditions. 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 above, plus any extensions thereof allowed in accordance with the Gene~al 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. Accordingly, instead of requiring any such proof, OWNER and CONTRACTOR agree 20 EXHIBIT A