1988-110-RES WHEREAS, the City Council of the City of Paris acting under emergency powers granted by the City

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AGREEMENT THI S AGREEMENT is dated as of the day of in the year 19____ by and between City of Paris, Paris, Texas, (hereinaf- ter called OWNER) and B. Bray Construction Co.. Inc. (hereinafter called CONTRACTOR). OWNER and CONTRACTOR, in consideration of the mutual covenants herein- after 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: Furnish and install approximately 3,200 L.F. of 20" diameter, DR25 PVC water main and appurtenances, complete, tested and cleaned-up. The Project for which the Work under the Contract Documents may be the whole or only a part is generally described as follows: 20" Water Main Replacement 3rd N.E. from Clement Road to Santa Fe as shown on the drawings. 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 60 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 14.1l of.the.General Conditions within 120 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. Accordingly, instead of requiring any such proof, OWNER and CONTRACTOR agree that as liquidated damages for delay (but not as a penalty) CONTRACTOR shall pay OWNER one hundred fifty dollars ($150.00) for each day that expires after the time specified EXHIBiT A