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AGREEMENT <br />THIS AGREEMENT is dated as of the day of in the year 20_, by and <br />between the City of Paris, Texas, a home rule municipal corporation located at 135 lst Street SE, <br />Paris, TX 75460 (hereinafter called CITY) and <br />(hereinafter called CONTRACTOR). <br />CITY and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree <br />as follows: <br />ARTICLE 1. WORK <br />CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents. <br />The Work project is generally described as follows: <br />Downtown Sidewalk Replacement - Clarksville Street <br />TCF #728002 and HEI #180041 <br />ARTICLE 2. ENGINEER <br />The Project has been designed by Hayter Engineering, Inc., Paris, Texas, who is hereinafter <br />called ENGINEER and who is to act as CITY'S representative, assume all duties and <br />responsibilities and have the rights and authority assigned to ENGINEER in the Contract <br />Documents in connection with completion of the Work in accordance with the Contract <br />Documents. <br />ARTICLE 3. CONTRACT TIME <br />3.1 The Work will be substantially completed and ready for final payrnent within 105 <br />calendar days from the effective date of this Agreement or from the date of the Notice to <br />Proceed, whichever is later. <br />3.2 Liquidated Damages. CITY and CONTRACTOR recognize that time is of the essence of <br />this Agreement and that CITY will suffer financial loss if the Work is not completed <br />within the times specified above, plus any extensions thereof allowed in accardance with <br />the General Conditions. They also recognize the delays, expense and difficulties involved <br />in proving in a legal or arbitration proceeding the actual loss suffered by CITY if the <br />Work is not completed on time. Accordingly, instead of requiring any such proof, CITY <br />and CONTRACTOR agree that as liquidated damages for delay (but not as a penalty) <br />CONTRACTOR shall pay CITY $250 for each calendar day that expires after the time <br />specified. <br />ARTICLE 4. CONTRACT PRICE <br />CITY shall pay CONTRACTOR for completion of the Work in accordance with the Gontract <br />Documents in current funds as follows: <br />EXHIBI~\~~ <br />