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In all such cases, the Contractor shall keep a correct account of th ra cost, in such form as the Principle <br />Representative may direct, and shall present such account, s _,ported by receipts. The Principal <br />Representative shall be entitled to reject any claim for extra cost whenever the foregoing procedure is not <br />followed. <br />The payments to the Contractor in respect of such extra costs shall be limited to reimbursement for :'le <br />current additional expenditure by the Contractor made necessary by the change in the work, plus a <br />reasonable amount of overhead and profit, determined solely with reference tot he additional work, if any, <br />required by the change, at or prior to the time of making the change. <br />Any claim by the Contractor arising by virtue of the Contract which is r. disposed of by agreement shall be <br />submitted in writing, together with any written and oral evidence in support thereof, to the Principle <br />Representative for decision. Before making a decision the Principle Representative may notify the <br />Contractor that additional written and/or oral evidence in support of the claim is required. If such notice is <br />given, Contractor shall proved additional evidence to the Principle Representative within the time specifies <br />by the Principle Representative in the notice. The Principle Representative shall make his decision in writing <br />and mail or otherwise furnish a signed copy to the Contractor. Pending the decision of the Principle <br />Representative, the Contractor shall proceed diligently with the performance of the Contract. <br />Article 40. LIQUIDATED DAMAGES <br />If the Contractor shall neglect, fail or refuse to r . iplete the work within the - me agreed upon in this <br />Agreement or any extension thereof, the Contractor shall be liable to the Princ. le Representative in the <br />amount specified in the Special Conditions for this project for each and every calendar day the completion <br />of the work is delayed beyond the time provided in this Agr _ ement, as fixed and agreed liquidated damages, <br />and not as a penalty. If the Principle Representative terminates the Contractor's right to proceed, the <br />resulting damage will consist of liquidated damages until s' ch reasonable - ne as may be required for final <br />completion of the work along with any increased costs inc. °ed by the Prinr .e Representative in c^ n ;efir,c <br />the work. If the Principle Representative does not terminate the Contractors right to proceed, the reFuring <br />damage will consist of liquidated damages until the work is completed or accepted. <br />Thk inciple Representative , 4`• - 111 have the right to deduct frr Ind retai. out of monies which may be due <br />or v..ich may become cue sayable to the Contractor. ' mount c; such liquidated damages; and if <br />the amount so retained by the inciple Representative is it ,cient to pay in full such liquidated damages, <br />the Contractor shall pay to'.. - Principle Representative the amount necessary to effect payment in full of <br />such liquidated damages. <br />Article 41. DAMAGES <br />If either party to this Contract shall fer damage in any manner because of any wrongful act or neglect of <br />the other party or of anyone emp id by him, then he shall be reimbursed by the other party for such <br />damage, except that the Principal : 3resentative shall be responsible for and at his option insure against <br />loss of use of any of his existing property, due to fire or otherwise, however caused. <br />Claims under this clause shall be made in writing to the party liable within a reasonable time of the s:•st <br />observance of such damage and not later than the time of final payment, except as expressly stipu <br />otherwise in the case of faulty work or materials. <br />Article 42. STATES RIGHT TO DO THE WORK <br />If the Contractor should neglect to prosecute the work properly or fail to perform any provision of the <br />Contract, the Principal Representative, after seven (7) days' written noti; e to the Contractor and the Surety <br />ma' without prejudice to any other remedy he may have, make good such deficiencies and may deduct the <br />cost thereof from the payment then or thereafter due the Contractor. <br />Colorado Division of Minerals & Geology GENERAL BID SPECIFICATIONS <br />1996 Page 14 <br />