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<br />r \ <br /> <br />- ~ - <br /> <br />WHEREAS. the Contractor has identified certain alleged <br />defects present in the completed project, which defects it <br />would like to correct~ and <br /> <br />WHEREAS, the State is willing to provide an additional <br />sum of money of One Hundred Forty Thousand Ninety-One Dollars <br />and Sixty-Two Cents ($140,091.62), of which One Hundred <br />Twenty-Seven Thousand Five Hundred Ninety-One Dollars and <br />Sixty-Two Cents ($127,591.62) will cover the State's fifty <br />percent (SO%) portion of the increased cost of the project and <br />Twelve Thousand Five Hundred Dollars ($12,50Q) will cover the <br />State's fifty percent (50%) portion of the estimated cost of <br />correcting the alleged defects in the project; and <br /> <br />WHEREAS, the Contractor has encountered financial <br />difficulties in effecting such payments as nrovided for in that <br />certain contract dated December I, 1981, and the State is <br />willing to restructure the repayment obligation of the <br />Contractor; and <br /> <br />WHEREAS. the State and the Contractor wish to specifically <br />identify the source of the funds to be used by the Contractor <br />to repay the State. <br /> <br />NOW THEREFORE, in consideration of the mutual and dependent <br />covenants herein contained, it is agreed by the parties hereto <br />as follows: <br /> <br />A. The Contractor agrees that it shall: <br /> <br />1. Employ an engineering firm to prepare project plans <br />and specifications for the correction of the alleged <br />deficiencies to the project. Both the engineering firm and the <br />.project plans and specifications must be approved by the State <br />if the State is to contribute its proportionate share. <br /> <br />2. Subcontract the construction of said alleged deficient <br />part of the project to a responsible and capable firm, said <br />project to be completed within two (2) months of the date of <br />this contract in accordance~with the project plans ann <br />specifications and any necessary modification thereof approved <br />by the State. The State must approve, in writing. all <br />subcontracts before they become effective. .The above-mentioned <br />time may be extended by the State if such time is insufficient <br />because of acts of God or other acts or circumstances beyond <br />the control of the Contractor. <br /> <br />3. Require all Subcontractors to indemnify the State and <br />the Contractor against all liability and loss, and against all <br />claims and actions based upon or arising out of damage or <br />injury, including death, to persons or property caused by or <br />sustained in connection with the performance of any subcontract <br />or by conditions created thereby, or based upon any violation <br />of any statute., ordinance, or regulation, and the defense of <br />any such claims or actions. <br /> <br />4. Contribute from its own monies not to exceed <br />Twenty-Seven Thousand Five Hundred Ninety-One Dollars and <br />Six~y-Two Cents ($27/591.62) towards the completion of, and the <br />correction of alleged deficiencies in, the pr6ject. <br /> <br />5. Require all Subcontractors to maintain liability <br />insurance in at least the following amounts: <br /> <br />a. For any injury to one person in any single <br />occurrence, the sum of One Hundred Fifty Thousand <br />Dollars ($150,000). <br /> <br />b. For any injury to two or more persons in any <br />single occurrence, the sum of Four Hundred Tnousand <br />Dollars 1$400,000). <br /> <br />Page 2 of 10 pages <br />