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<br />AGREEMENT <br /> <br />THIS AGREEMENT is dated as of the 9th day of <br />the year 1989 by and between City of Paris, Paris, <br />called OWNER) and Ray Slagle Construction Co. <br />(hereinafter <br /> <br />Ocotber in <br />Texas, (hereinafter <br /> <br />ca1~ed.CO~TRACTOR). <br /> <br />OWNER and CONTRACTOR, in consideration of the mutual covenants herein- <br />after set forth, agree as follows: <br /> <br />Article 1. WORK. <br /> <br />CONTRACTOR shall complete all Work as specified or indicated in the <br />Contract Documents. The Work is generally described as follows: <br />Replacement of approximately 3895 S.F. of concrete rip-rap and <br />surface rehabilitation of concrete spillway. <br /> <br />The Project for which the Work under the Contract Documents may be the <br />whole or only a part is generally described as follows: <br /> <br />Article 2. ENGINEER. <br /> <br />The Project has been designed by City Engineer, City of Paris, Paris, <br />Texas, or his authorized representative, who is hereinafter call <br />ENGINEER and who is to act as OWNER's representative, assume all <br />duties and responsibilities and have the rights and authority assigned <br />to ENGINEER in the Contract Documents in connection with completion of <br />the Work in accordance with the Contract Documents. <br /> <br />Article 3. CONTRACT TIME. <br /> <br />3.1 The Work will be substantially completed within 90 days <br />from the date when the Contract Time commences to run as provided in <br />paragraph 2.3 of the General Conditions, and completed and ready for <br />final payment in accordance with paragraph 14.13 of the General <br />Conditions within 120 days from the date when the Contract <br />Time commences to run. <br /> <br />3.2 Liquidated Damages. OWNER and CONTRACTOR recognize that time is <br />of the essence of this Agreement and that OWNER will suffer financial <br />loss if the Work is not completed within the times specified in <br />paragraph 3.1 above, plus any extensions thereof allowed in accordance <br />with Article 12 of the General Conditions. They also recognize the <br />delays, expense and difficulties involved in proving in a legal or <br />arbitration proceeding the actual loss suffered by OWNER if the Work <br />is not completed on time. Accordingly, instead of requiring any such <br /> <br />1 <br /> <br />tJ<HIBIT.A <br />