HomeMy WebLinkAboutContract 46980 C1 TV S EC WE `.
005243-1
CONTRACT Agreement
Page I of 4
1 SECTION 00 52 43
2 AGREEMENT
3 THIS AGREEMENT,authorized on JULY 21.2015 is made by and between the City of Forth
4 Worth, a Texas home rule municipality, acting by and through its duly authorized City Manager,
5 ("City"), and INNOVATIVE ROADWAY SOLUTIONS LLC, authorized to do business in
6 Texas, acting by and through its duly authorized representative, ("Contractor").
7 City and Contractor, in consideration of the mutual covenants hereinafter set forth, agree as
8 follows:
9 Article 1. WORD
10 Contractor shall complete all Work as specified or indicated in the Contract Documents for the
11 Project identified herein.
12 Article 2.PROJECT
13 The project for which the Work under the Contract Documents may be the whole or only a part is
14 generally described as follows:
15 EMULSIFIED ASPHALT FOG SEAL APPLICATION 2015
16 City Project NO.02537
17 Article 3. CONTRACT TIME
18 3.1 Time is of the essence.
19 All time limits for Milestones, if any, and Final Acceptance as stated in the Contract
20 Documents are of the essence to this Contract.
21 3.2 Final Acceptance.
22 The Work will be complete for Final Acceptance within 180 days after the date when the
23 Contract Time commences to run as provided in Paragraph 2.03 of the General Conditions.
24 3.3 Liquidated damages
25 Contractor recognizes that time is of the essence of this Agreement and that City will
26 suffer financial loss if the Work is not completed within the times specified in Paragraph
27 3.2 above, plus any extension thereof allowed in accordance with Article 12 of the
28 General Conditions. The Contractor also recognizes the delays, expense and difficulties
29 involved in proving in a legal proceeding the actual loss suffered by the City if the Work
30 is not completed on time. Accordingly, instead of requiring any such proof , Contractor
31 agrees that as liquidated damages for delay (but not as a penalty), Contractor shall pay
32 City Six Hundred Fifty Dollars ($650.00) for each day that expires after the time
33 specified in Paragraph 3.2 for Final Acceptance until the City issues the Final Letter of
34 Accentance.
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CITY OF FORT WORTH EMULSIFIED ASPHALT FOG SEAL APPLICATION 2015
STANDARD CONSTRUCTION SPECIFICATION DOCUMENTS 02537
Revised August 17,2012