FLOOD06073

• County: Ouray
• Community: Ouray
• Stream Name: Cascade Creek
• Basin: Gunnison
• Title: Contract Documents for Debris and Flood Control Improvements Cascade Creek, Phase II
• Date: 5/10/1984
• Prepared For: Ouray
• Prepared By: Simons Li & Associates Inc.
• Floodplain - Doc Type: Project

THIS AGREEMENT is dated as of the. . . . . . . . . . . . . . . . . . .
19.......... by and between City of Ouray, Colorado

. .day of.............

. . . . . . in the year

(hereinafter called OWNER) and

(h,,,einafler called CONTRACTOR)

OWNER and CONTRACTOR, in consideration of the .mutua.! covenants hereinafter set forth, agree as follows:

Article 1. WORK.

CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents. The Work is generally described
as follows: Construction of reinforced concrete debris control improvements and
related construction.

The Project for which the Work under the Contract Documents may be the whole or only a. part is generally described as follows:
Debris and flood control improveffi1:!Uts, Cascade Creek, Phase II, for the City
of Ouray, Colorado

Article 2. ENGINEER.

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 a(:corda:nce with the Contract
Documents.

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';::& 3.1. The Work will be substantially completed within. . .7.? . . . . days after the date when lhl~ Contract Time commences
~ ~ to run as provided in paragraph 2.3 of the General Conditions, and completed and ready for final payment in accordance with
~ eparagraph 14.13 of the General Conditions withih .. .90.. .. . days aftCf the date when the Contract Time commences to run.
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Article 3. CONTRACT TIME.

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3.2. Liquidated Damages. OWNER and CONTRACTOR recogrJize that time is of the essence of this Agreement and
that OWNER will suffer financial loss if the Work is not substantially complete with:in the time specified in paragraph 3.1
above, plus any extensions thereof allowed in accordanct: with Article 12 of the General Conditions. They also recognize the
delays, expense and difficulties involved in proving in a I(:gal or arbitration proceeding the actual loss suffered by OWNER if
the Work is not substantially complete on time. Accordingly, instead of requiring any sllch proof, OWNER and CONTRAC.
TOR agree that as liquidated damages for delay (but not as a penalty) CONTRACTOR shall pay
OWNER. .0(11'\. t.!lOU,."l1.G.......................... dollars ($..1,0.00...00........) for each day that expires after
the time specified in paragraph 3.1 for substantial completion until the Work is substantially complete.

Article 4. CONTRACT PRICE.

4.1. OWNER shall pay CONTRACTOR for performanc{: of the Work in accordance with the Contract Documents in
current funds as follows: In accordance with the unit. prices contained in the attached
Bid Documnnts.

(CONTRACTOR's Bid may be attached as exhibit to avoid lengthy refyping of unit price schedules, formulae for
escalation of prices, information as to alternatives, etc.)

Article 5" PAYMENT PROCEDURES.

Contractor shall submit Applications for Payment in accordance with Article 14 of the General Conditions. Applications for
Payment will be processed by ENGINEER as provided in the General Conditions.

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