Agmt15 Pavement Coatings Co. - Laserfiche WebLink

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_��,�,,,�,�„� _____ _ _ _ _. 1. City and Corrtractor recognize that time is of the essencae of this�reement and that City will suffer flnancial loss in the form of lost revenues, co�act administration expenses (including project management and consultants' expenses), delay and loss of public use, if the Work is not completed within the time specified� in Raragraph IIIA1 above plus any extensions thereof allowed in aoconlanoe with the Contract documents. Consistent with Saction 00700 (General Condi�ons), Contractor and City agree that because of the natur+e of the Project, it.would be impractical or extremely difficult to fix the amount of actuaf damages incun�ed by City because of a delay in oompletion of the Work. 2. Accordingly, City and Contractor agree that Contractor shall pay City$500 for each Day that e�ires after the time speafied in Paragraph IlIA.1 of this Sedion 00520 for Contractor to achieve Substantial Completion, until such date as contractor achieves Substantial Completion. C. Liquidated damages for delay shall only cover and be in lieu of the ac�tual damages sufFered by City as a result of delay referenced above. Liquidated damages shall not cover the cost of comple�on of the Wot1c�damages resulting from defedive work�cflst of temporary replacement faali�es, damages suffered by others who then seek to recover their dama�ges from City (for example, delay Gaims of other conhactors or subcoritractors), and defense costs thereof. N. CITY'3 ENGINEER AND REPRESENTATIVES Reserved V. CONTRACTOR'S REPRESENTATIONS AND WARRANTIES In order to induce Cily to er�ter irito this Agreement, Contractor makes the follawing representations and warranties: A. Contractor has visited the Site and has examined thoroughly and understood the nature and exterrt of the Work,Site,locality,actual oondiaons,�buift condidons,and all local oondi�ons and federal, state and local laws and regulations that in any manner may affect cost,progress, performance or fumishing of Work or which relate to any aspect of the design and the means, metl�ods, techniques, sequences or procedures of construction to be employed by Conh�actor and safet�r precautions and programs inaderrt thereto. B. Corrtractor has e�camined thoroughly and understood all reports of exploration and tests of subsurface conditions, drawings or reports, available for design and construction purposes, of physical c�ndi�ons, or which may be ap�rerrt at the Site and accepts the determination sst forth in these Sections and Secdon 00700(General Conditions) of the limited extent of the irrformation corrtained in these Sections upon which the Contractor may be entitled to rely. Cor�tractor agrees that exoept for the informaa�tion so identified, Coritractor does not and shall not rely on any other i�rFormafion contained in these Sections. C. Contractor has considered the physical condi�ons at or contiguous to the Site or otherwise which may affect the cost, progress, performance or fumishing of Work, as Contractor conside�s necessary for the perfamance or fumishing of Work at the Contrad Sum, within the Contract Time and in accordance with the other terms and conditions of Cor�tract documents, including speaflcally the provisions of the General Conditions. AGREEMENT 20142Q15 SLURRY SEAL PROJECT