KLB CONSTRUCTION INC. 6/23/2010 - Laserfiche WebLink

I ISECTION 00500 CONTRACT I THIS CON TRACT is made and entered into thisc4/7d day of ji,t r)e ,d-old,by and between the City of Everett, Washington, a municipalcorporation existing under the laws of the State of Washington, herei{iafte called the "City," and L,8 D r15-i'ru..c+Inn nC o , a (,l l a S/I n *n (),D✓76✓d-f'I D n ,hereinafter called th�"Contractor." i 9 I In consideration of the sums to be paid to it by the City, Contractor hereby covenants and agrees to furnish I all labor, tools, materials, equipment, and supplies required to build and construct and to build and construct in a workmanlike manner the work, improvements, and appurtenances in accordance with the Specifications and Plans entitled: "Everett Riverfront Surcharge Phase 3"(the"Project"). I 1. Contract Documents. The following documents ("Contract Documents") are incorporated by reference and are hereby made a part of this Contract: IA. Notice to Bidders B. Instructions to Bidders IC. General Conditions D. Supplementary Conditions (if any) IE. Plans,Drawings and Specifications IF. Addenda(if any) G. Payment and Performance Bond IH. Contractor's Proposal/Bid(conformed copy dated 5-/7 -/n ) I. All provisions required by law whether set forth and reproduced herein or not I2. Time for Completion. The work shall be physically complete within 89 calendar days from the written Notice to Proceed. I3. Liquidated Damages. The parties agree the City will suffer damage and be put to additional expense in the event that the Contractor does not complete the work in all respects and have it ready for use by the physical completion date stated. Because it is difficult to accurately compute the amount of such costs 111 and damages, the Contractor hereby covenants and agrees to pay to the City liquidated damages for each and every calendar day (or working day, if the contract duration is described in working days) from the expiration of the contract duration until Final Acceptance. Liquidated damages shall be computed at the I daily rate of fifteen percent(15%) of the contract price, divided by the number of days of contract duration specified in this section multiplied by the number of days that it took the Contractor to achieve substantial completion that exceeded the contract duration required by this section. Liquidated damages applicable to the period after substantial completion is achieved until Final Acceptance shall be at the daily rate of ten percent(10%)of the liquidated damages rate applicable to delays to substantial completion. I I 00500-1 Date: