FLOOD00634

• County: Larimer
• Community: Wellington
• Title: Appendix A Construction Fund Loan Application
• Date: 12/19/1989
• Prepared For: Wellington
• Prepared By: Consultants
• Floodplain - Doc Type: Community File

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CONTRACT AGREEMENT

THIS AGREE~ENT is dated as of the
in the year 198 by and between:

day of

The North poudre Irrigation Company
(hereinafter called OWNER) and

(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
in the Contract Documents. The work
follows: Rehabilitation of the Clark
structures.

as specified or indicated
is generally described as
Lake dam and appurtenant

ARTICLE 2. ENGINEER

The Project has been designed by

SMITH GEOTECHNICAL/Engineering Consultants

who is hereinafter called ENGINEER and who will assume all duties
and responsibilities and will have the rights and authority
assigned to ENGINEER 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 on or before
May 1, 1989, and completed and ready for final payment in
accordance with paragraph 14.13. or the General Conditions on or
before July 1, 1989.

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 substantially complete
within the time 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
substantially complete on time. Accordingly, instead of
requiring any such proof, OWNER and CONTRACTOR agree that as
liquidated damages for delay (but not as a penalty) CONTRACTOR

CD-1