HomeMy WebLinkAboutrevised agreement formAGREEMENT FORM
THIS AGREEMENT is dated as of the day of ________ in the year 2016, by and between
CITY OF BOZEMAN, hereinafter called OWNER, and ______________________ hereinafter
called CONTRACTOR.
OWNER AND CONTRACTOR, in consideration of the mutual covenants hereinafter set forth,
agree as follows:
Article 1. WORK.
CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents.
The project work is generally described as follows: Installation of telecommunications conduit
and maintenance holes as shown on the project plans in various locations in the Downtown and
North 7th Tax Increment Finance Districts.
The project for which the Work under the Contract Documents may be the whole or only a part is
generally described as follows: 2016 DOWNTOWN & N. 7TH CONDUIT PROJECT.
Article 2. CONTRACT TIME.
2.1 The Work will be completed within 65 days after the date when the contract time
commences to run as provided in the General Conditions. Final payment will be withheld
until final completion and acceptance of the Work, as stipulated in this Agreement.
2.2 Liquidated Damages. OWNER and CONTRACTOR recognize that time is of the essence in
this Agreement and that OWNER will suffer financial loss if the Work is not substantially
complete within the time specified above, plus any extensions thereof allowed in accordance
with the General Conditions. They also recognize the delays, expense and difficulties
involved in proving, in a legal or arbitration proceeding, the actual loss suffered by OWNER
if the Work is not substantially complete on time. Accordingly, instead of requiring any
such proof, OWNER and CONTRACTOR agree that as liquidated damages for delay (but
not as a penalty) CONTRACTOR shall pay OWNER two hundred fifty dollars ($ 250.00)
for each day that expires after the time specified herein until the Work is substantially
complete.
Article 3. CONTRACT PRICE.
3.1 OWNER shall pay CONTRACTOR for performance of the Work in accordance with the
Contract Documents the sum (subject to adjustment as provided in the Contract Documents)
of _________________________________________________________ ($__________).
Article 4. PAYMENT PROCEDURES.
CONTRACTOR shall submit applications for payment in accordance with the General Conditions.
Applications for payment will be processed as provided in the General Conditions.