Laserfiche WebLink
703 <br />AGREEMENT <br />THIS AGREEMENT is dated as of the 13th day of January in the year 19 97 by and <br />between City of Paris (hereinafter called OWNER) and <br />F & W Electrical Contractors, Inc. (hereinafter called CONTRACTOR). <br />OWNER 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. The <br />Work is generally described as follows: <br />Cox Field — Paris Municipal Airport <br />Airfield Lighting Improvements <br />TxDOT Project #CSJ 9601PARIS <br />The Project for which the Work under the Contract Documents may be the whole or only a part is <br />generally described as follows: <br />The whole project as described in the contract documents and as seen on the <br />contract drawings. <br />Article 2. ENGINEER <br />The Project has been designed by Hayter Engineering, Inc., Paris, Texas, who is hereinafter called' <br />ENGINEER and who is to act as OWNER'S representative, assume all duties and responsibilities and <br />have the rights and authority assigned to ENGINEER in the Contract Documents in connection with <br />completion of the Work in accordance with the Contract Documents. <br />Article 3. CONTRACT TIME <br />3.1. The Work will be substantially completed and ready for final payment within 75 days <br />from the date when the Contract Time commences to run, as provided in the General <br />Conditions. <br />3.2. Liquidated Damages. OWNER and CONTRACTOR recognize that time is of the essence <br />of this Agreement and that OWNER will suffer financial loss if the Work is not completed <br />within the times specified above, plus any extensions thereof allowed in accordance with the <br />General Conditions. They also recognize the delays, expense and difficulties involved in <br />proving in a legal or arbitration proceeding the actual loss suffered by OWNER if the Work <br />is not completed on time. Accordingly, instead of requiring any such proof, OWNER and <br />CONTRACTOR agree that as liquidated damages for delay (but not as a- penalty) <br />CONTRACTOR shall pay OWNER $ 235 for each day that expires after the time <br />specified. <br />19 <br />EXHIBIT A <br />