07-E T-Hangar Contract Award - Laserfiche WebLink

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AGREEMENT THIS AGREEMENT is dated as of the 13th day of August in the year 2001, by and between City of Paris, Paris, Texas, (hereinafter called OWNER) and George Spencer Construction (hereinafter called CONTRACTOR). 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: NESTED T-HANGAR The Project for which the Work under the Contract Documents may be the whole or only a part is generally described as follows: NESTED T-HANGAR Article 2. ENGINEER. The Project has been designed by City Engineer, City of Paris, Paris, Texas, or his authorized representative, who is hereinafter call ENG1NEER and who is to act as OWNER'S representative, assume all duties and responsibilities and have the rights and authority assigned to ENG1NEER 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 180 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 14.13 of General Conditions within 210 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