1998-08-28_GENERAL DOCUMENTS - C1981017 (2)

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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 Representative may direct, and shall present such account, b,dported by receipts. The Principal Representative shall be entitled to reject any claim for extra cost whenever the foregoing procedure is not followed. The payments to the Contractor in respect of such extra costs shall be limited to reimbursement for:pie current additional expenditure by the Contractor made necessary by the change in the work, plus a reasonable amount of overhead and profit, determined solely with reference tot he additional work, if any, required by the change, at or prior to the time of making the change. Any claim by the Contractor arising by virtue of the Contract which is n_ disposed of by agreement shall be submitted in writing, together with any written and oral evidence in support thereof, to the Principle Representative for decision. Before making a decision the Principle Representative may notify the Contractor that additional written and/or oral evidence in support of the claim is required. If such notice is given,Contractor shall proved additional evidence to the Principle Representative within the time specifiec by the Principle Representative in the notice. The Principle Representative shall make his decision in writing and mail or otherwise furnish a signed copy to the Contractor. Pending the decision of the Principle Representative,the Contractor shall proceed diligently with the performance of the Contract. Article 40. LIQUIDATED DAMAGES If the Contractor shall neglect, fail or refuse to r -,plete the work within the !'me agreed upon in this Agreement or any extension thereof, the Contractor shall be liable to the Princ: le Representative in the amount specified in the Special Conditions for this project for each and every calendar day the completion of the work is delayed beyond the time provided in this Agr.ement,as fixed and agreed liquidated damages, and not as a penalty. If the Principle Representative terminates the Contractor's right to proceed, the resulting damage will consist of liquidated damages until s},je h reasonable- -ne as may be required for final completion of the work along with any increased costs inc -ed bythe Prim ,e Representative in cr n'.atinq the work. If the Principle Representative does not terminate the Contractors right to proceed,the re=ul-ing damage will consist of liquidated damages until the work is completed or accepted. Tht inciple Representatiw— -Al have the right to deduct frr ind retai, out of monies which may be due or v. .ich may become aue a ayabie to the Contractor, tmount c-, such liquidated damages; and if the amount so retained by the inciple Representative is it .,cient to pay in full such liquidated damages, the Contractor shall pay to 4,4 Principle Representative the amount necessary to effect payment in full of such liquidated damages. Article 41. DAMAGES If either party to this Contract shall: 'fer damage in any manner because of any wrongful act or neglect of the other party or of anyone emr, 4d by him, then he shall be reimbursed by the other party for such damage,except that the Principal - resentative shall be responsible for and at his option insure against loss of use of any of his existing property,due to fire or otherwise, however caused. Claims under this clause shall be made in writing to the party liable within a reasonable time of the f,•st observance of such damage and not later than the time of final payment, except as expressly stipu otherwise in the case of faulty work or materials. Article 42. STATES RIGHT TO DO THE WORK If the Contractor should neglect to prosecute the work properly or fail to perform any provision of the Contract,the Principal Representative,after seven(7)days'written notir a to the Contractor and the Surety mad without prejudice to anv other remedy he may have, make good such deficiencies and may deduct the cos,thereof from the payment then or thereafter due the Contractor. Colorado Division of Minerals&Geology GENERAL BID SPECIFICATIONS 1996 Page 14