20 & 21- Pickleball Construction at Sports Complex

Home Browse Search

V. TERMITIME OF COMPLETION Contractor shall commence work under this Contract within _ __ business days following receipt of a Notice to Proceed or work order from the City. Contractor agrees to complete all work called for under this agreement in a professional and timely fashion and in accordance with the work orders received, and in any event, no later than , 2024. VI. PAYMENT The City shall pay Contractor in current funds THREE HUNDRED EIGHTY- THREE FOUR HUNDRED EIGHTY-SEVEN AND 97/100 DOLLARS, representing seventy percent (70%) of the total contract price, upon completion of the post -tension slab including any necessary inspections. Contractor shall notify the City in writing when this occurs, and City shall make such payment within fourteen (14) days of such notification. The City shall pay the remaining thirty percent (30%) of the Contract price, in the amount of ONE HUNDRED SIXTY-FOUR THOUSAND THREE HUNDRED FIFTY- ONE AND 99/100 DOLLARS upon acceptance of the work. VII. INSURANCE AND INDEMNIFICATION Before commencing work, the Contractor, at its own expense, procure, pay for and maintain during the term of this Contract insurance in accordance with the requirements set forth in Exhibit 2 hereto, written by companies approved by the State of Texas, and acceptable to the City of Paris. The Contractor shall furnish to the City Clerk copies of the insurance policies required herein stating coverages, limits, expiration dates and compliance with all applicable required provisions. It is expressly provided that such insurance policy or policies shall and must be written and issued by a reputable insurance company or companies licensed to write insurance policies by the State of Texas. The policy or policies shall be written or endorsed to cover the City, its elected officials, officers and employees as additional insured. Contractor or its insurance carrier or carriers shall deliver a copy of any such policies to the City Clerk of the City of Paris, 150 1 st Street S.E., Paris, Texas 75460, or furnish to said City Clerk a current letter or certificate from such company or companies, evidencing the fact that such insurance is in full force and effect at all times during this Agreement, and any extensions hereof, and specifically noting thereon that the City, its elected officials, officers and employees are covered as an additional insured. All such policies shall be written so that the City will be notified of cancellation or of any restrictive amendment of the policies at least thirty (30) days prior to the effective date of such cancellation or amendment. Notice shall be by certified mail, return receipt requested, addressed to the City at the following address: City Clerk, City of Paris, P. O. Box 9037, Paris, Texas 75461-9037.