Reso 2009-1434 - Laserfiche WebLink

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2.2 Contractor shall complete all applications for the Permits within ten (10) calendar days after execution of this Agreement. A Notice to Proceed for the commencement of the Work will not be issued until Contractor's submission to the City of all required documents, including, but not limited to, the Bonds, the Insurance Certificate and the Permits. In the event Contractor fails to deliver to the City the required documents within ten (10) days after the Execution Date, or fails to apply for the Permits within ten (10) days after the Execution Date, or fails to commence the Work within five (5) days after the City's Issuance of a Notice to Proceed, then Contractor shall be in default. In such event the City, in addition to all remedies provided for an event of Contractor's default hereunder, shall have the right to collect from Contractor all expenses incurred by the City in the re-procurement of the Services. 2.3 Time is of the essence throughout this Agreement. 2.4 The Parking Garage portion of the Work shall be substantially complete within Three Hundred and Thirty (330) calendar days, or by the issuance of a Temporary Certificate of Occupancy ("TCO"), whichever event occurs first, as described in attached Exhibit "A" incorporated herein by reference. Upon failure of Contractor to achieve Substantial Completion of the Work by the Time for Completion, plus approved time extensions (if applicable), Contractor shall pay to the City the sum of Two Thousand Dollars ($2,000.00) for each calendar day after the Time for Completion plus any approved time extensions (if applicable). These amounts are not penalties but are liquidated damages to the City for its inability to obtain beneficial occupancy and/or use of the Project. Liquidated damages are hereby fixed and agreed upon between the parties, recognizing the impossibility of precisely ascertaining the amount of damages that will be sustained by the City as a consequence of such delay, and both parties desiring to obviate any question of dispute concerning the amount of said damages and the cost and effect of the failure of Contractor to complete the Construction Work on time. 2.5 The City is authorized to deduct liquidated damages from monies due to Contractor for Work under this Agreement or as much thereof as the City may, in its sole discretion, deem just and reasonable. 2.6 Contractor will promptly perform its duties under the Contract Documents and will give the Work as much priority as is necessary to cause the Work to be completed on a timely basis in accordance with the Contract Documents. Time is of the essence of this Agreement. All Work shall be performed strictly (not substantially) within the time limitations necessary to meet all deadlines established in the Construction Schedule and the Contract Documents. 2.7 All dates and periods of time set forth in the Construction Schedule and the Contract Documents, including those for the commencement, prosecution, Interim milestones, milestones, and completion of the Work, and for the delivery and