AgdaPkt 2012-07-09 - Laserfiche WebLink

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6.1.B. - Page 5 B. Liauidated Damaqes 1. City and Contractor recognize that �ime is of the essence of this Agreerr�ent and that City wi[E suffer ftnancia[ loss in the form af lost revenues, cantract admir�istration expenses {inciuding project managet�nent and consultants' expenses}, delay and Iass of public use, if the Work is not completed wi#hin ' the time speci�ed ir� paragraph IIl.A.1 above plus any extensions therep# allowed in accordance�if�the Contract documents, Consistent with Section 00700 {General Conditions), Contractor and City agree that �ecause of the nat�tre of the Project, it would f�e impracticaf or e}ctremefy difticult to �x the amount of act�aal damages incurrad �y City beca�se of a delay ir� completion nf the Wot1t. 2. Accordingly, Ci#y and Contrac#or a r�e that Contractor shall �ay City five hundred and Nol�[00 do[Iars (��}for each Day thaf expires after t�e time sp�cified in Paragraph 3.1 of this Section OD520 for Contractor#o achieve Substantial Completion, urttil such date as co�tractor achieves Substantial Completior�. C. Liq�idated damages#or delay shall oniy cover and be in lieu of the actual damages suffered by City as a result of c�elay referenced abo�e. Liquidated darnages shall not co�er the cost of complstion of the Work, ciamages resulting from defecti�e work, cos� of temparary replacement facilities, damag�s suf#ered by others w�o fhen seek to recover thei�' damages fram City (for example, de{ay cEaims of other contractors or subcantractors}, and defense costs thereof. lV. CI�Y'S ENGINEER ANO REE�R�S�NTATNES ReseEVed V, CONTRACT�R'S REPRES�NTATIONS AN�WARRAN7I�S In order to in�fuce City to enfer into this Agreement, Contractor makes #he folfavuing representations and warra�ties: I�. Con�ractor has �isited the Site anc� has exarnined thoroughly and uncEerstood the nature and extent of the Wark, Sife, locaEity, actua� conditions, as built eonditions, and aI! local canditions and federal, stat� and laca! iaws and regulations that in any mar�t�er may af�ect cast, progress, pert'ormance or furnis�ing of Work or which relate to any aspect of the design and the means, methods, techniques, sequenc�s or procedures af construction to be employed by Contractor a�d safety precautions and programs incident thereto. B. Contractor has examined thoroughly and understood al[ reports of exploration and tests of s�bsurFace conditions, drawings or reports, available for design and canstruc#ion purposes, of physical conditions, or vs+�ich may be apparent at#he 5ite and accep#s the determination set forth in these Sections and Sectian 00700 (General Conditio�s} of the limited �xt�n# af th� information conta�ned in these 5�ctions upon wi�icl� the Contractor may he entitled to rely. Cantractor agrees �hat exeept for the inforrrtatian so identified, Cor�#ractor does not and shall not rely on any otl�er information contained in these Sections. C. Cantractor has cor�sidered the physical conditions at ar contig�ous to th� Site or atherwise which may aff�ct the cost, progress, performance or f�arnishir�g of Work, as Cnntractor cansiders necessary for the perForrnance or furnishing af Work at the Contract Sut�, within the Contraet Time and in accordance with the afher terms and canditiorts of Cantract documents, including sp�cifiealEy the provisions of the General Conditions. AGREEMENT . ". ,.. ' .,. , ' ,.� 00520-2 �' ,