FLOOD01287

• County: Arapahoe
• Community: Littleton
• Title: 10,000 Trees - Phase Three South Platte Park, Littleton, Colorado
• Date: 10/4/1991
• Prepared For: Littleton
• Prepared By: DHM, Inc.
• Floodplain - Doc Type: Educational/Technical/Reference Information

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1.

If Contractor is adjudged a bankrupt or insolvent,

2.

If Contractor makes a general assignment for the benefit of creditors,

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If a trustee or receiver is appointed for Contractor or for any
of Contractor's property,

4.

If Contractor files a petition to take advantage of any debtor's
act, or to reorganize under the bankruptcy or similar laws,

5.

If Contractor repeatedly fails to supply sufficient skilled work-
men or suitable materials or equipment,

6.

If Contractor repeatedly fails to make prompt payments to Sub-
contractors for labor, materials, or equipment,

7.

If Contractor disregards laws, ordinances, rules, regulations,
or orders of any public body having jurisdiction,

8.

If Contractor disregards the authority of Architect, or

9.

If Contractor otherwise violates in any substantial way any
provisions of the Contract Documents.

B.

Owner may, after giving Contractor and his Surety seven days' written
notice, terminate the services of Contractor, exclude Contractor from
the site and take possession of the Work and all Contractor's tools,
appliances, construction equipment and machinery at the site and use
the same to the full extent they could be used by Contractor (without
liability to Contractor for trespass or conversion), incorporate in the
Work all materials and equipment stored at the site or for which Owner
has paid Contractor but which are stored elsewhere, and finish the
ijork as Owner may deem expedient. In such case, Contractor shall not
be entitled to receive any further payment until the Work is finished.
If the unpaid balance of the Agreement Price exceeds the direct and
indirect costs of completing the Work, including compensation for
additional professional services, such excess shall be paid to the
Contractor. If such costs exceed such unpaid balance, Contractor
shall pay the difference to Owner. Such costs incurred by Owner
shall be verified by Architect and incorporated in a Change Order, but
in finishing the Work, Owner shall not be required to obtain the lowest
figure for the Work performed.

C.

Where Contractor's services have been so terminated by Owner, the
termination shall not affect any rights of Owner against Contractor
then existing or which may thereafter accrue. Any retention or pay-
ment of moneys due Contractor by Owner will not release Contractor
from liability.

D.

Upon seven days' written notice to Contractor and Architect, Owner
may, without cause and without prejudice to any other right or remedy,
elect to abandon the ijork and terminate the Agreement. In such case,
Contractor shall be paid for all Work executed and any expense sus-.
tained plus reasonable termination expenses.

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