Agmt96 Robison-Prezioso - Laserfiche WebLink

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DES:djk "7/29/96 (025/70) Code (commencing with Section 1720) . But no sum shall be withheld, retained or forfeited, except from the final payment, without a full investigation by either the Division of Labor Law Enforcement or by City. 5. It is hereby agreed by the parties to the agreement that in case all work called for under the agreement is not finished or completed on or before the time set forth in this agreement, damage will be sustained by City, and that it is and will be impracticable and extremely difficult to ascertain and determine the actual damage which City will sustain in the event of, and by reason of such delay; it is therefore agreed Contractor will pay to City the sum calculated at the rate of Five Hundred Dollars ($500.00) per day as liquidated damages for each and every calendar day's delay in finishing the work in excess of the number of calendar days prescribed, and Contractor agrees to pay said liquidated damages as herein provided, and in case the same are not paid, agrees that City may deduct the amount thereof from any monies due or that may become due under this agreement. It is further agreed that in case the work called for under this agreement is not completed in all its parts and requirements within the number of calendar days specified, City shall have the right to increase the number of calendar days or not, as may seem best to serve the interest of City; and if it is decided to increase the said number of calendar days, City shall further have the right to charge to Contractor, and deduct from the final payment for the work, all or any part, as City may deem proper, of the actual cost of engineering, inspection, superintendance, 8 *___._.,_"" ._~..~ _,_..~, ._.. .___________.., u.~'....-- ..