Laserfiche WebLink
<br />EXHIBIT VIII..J, Cont. <br /> <br />No changes in the work covered by the approved Contractor Documents shall be made without having prior <br />written approval of the Owner. Charges or credits for the work covered by the approved change shall be <br />determined by one or more of the following methods: <br /> <br />(a) Unit bid prices previously approved <br /> <br />(b) An agreed lump sum <br />(c) The actual cost of: <br /> <br />(1) Labor, including foreman; <br /> <br />(2) Materials entering permanently into the work; <br /> <br />(3) The ownership or rental cost of construction plant and equipment during the time of <br />use on the extra work; <br /> <br />(4) Power and consumable supplies for the operation of power equipment; <br /> <br />(5) Insurance; <br /> <br />(6) Social Security and old age and unemployment contributions. <br /> <br />To the cost under (c) there shall be added a fixed fee to be agreed upon but not to exceed fifteen (15%) of <br />the actual cost of the work. The fee shall be compensation to cover the cost of supervision, overhead, bond, <br />profit and any other general expenses. <br /> <br />18. Extras <br /> <br />Without invalidating the contract, the Owner may order extra work or make changes by altering, adding to or <br />deducting from the work, the contract sum being adjusted accordingly, and the consent of the Surety being <br />first obtained where necessary or desirable. All the work of the kind bid upon shall be paid for at the price <br />stipulated in the proposal, and no claims for any extra work or materials shall be allowed unless the work is <br />ordered in writing by the Owner or its Architect/Engineer, acting officially for the Owner, and the price is stated <br />in such order. <br /> <br />19. Time for Completion and Liquidated Damages <br /> <br />It is hereby understood and mutually agreed, by and between the Contractor and the Owner, that the date of <br />beginning and the time for completion as specified in the Contract of the work to be done hereunder are <br />ESSENTIAL CONDITIONS of this Contract; and it is further mutually understood and agreed that the work <br />embraced in this contract shall be commenced on a date to be specified in the "Notice to Proceed." <br /> <br />The Contractor agrees that said work shall be prosecuted regularly, diligently, and uninterruptedly at such rate <br />of progress as will insure full completion thereof within the time specified. It is expressly understood and <br />agreed, by and between the Contractor and the Owner, that the time for the completion of the work described <br />herein is a reasonable time for the completion of the same, taking into consideration the average climatic <br />range and usual industrial conditions prevailing in this locality. <br /> <br />If the said Contractor shall neglect, fail or refuse to complete the work within the time herein specified, or any <br />proper extension thereof granted by the Owner, then the Contractor does hereby agree, as a part <br />consideration for the awarding of this Contract, to pay the Owner the amount specified in the Contract, not <br />as a penalty but as liquidated damages for such breach of Contract as hereinafter set forth, for each and <br />every calendar day that the Contractor shall be in default after the time stipulated in the Contract for <br />completing the work. <br /> <br />The said amount is fixed and agreed upon by and between the Contractor and the Owner because of the <br />impracticability and extreme difficulty of fixing and ascertaining the actual damages the Owner would in such <br />event sustain, and said amount is agreed to be the amount of damages which the Owner would sustain and <br /> <br />VlIl-J-7 <br /> <br />(Revised 5199) <br />