03 Demo Contract for Redevelopment Properties

Home Browse Search

(d) Contractor shall (a) furnish properly executed certificates of insurance to the Agency prior to commencement of work under this Contract, which certificates shall clearly evidence all coverage required above and provide that such insurance shall not be materially changed or terminated except on 30 days' prior written notice to the Agency; and (b) maintain such insurance from the time work first commences until completion of the work under this Contract; and (c) replace such certificate for policies expiring prior to completion of work under this Contract. 16. AGENCY'S POWER TO TERMINATE Should Contractor commit any of the acts specified in this paragraph, Agency may, by giving ten (10) calendar days notice in writing thereof to Contractor, without prejudice to any other rights or remedies given Agency by law or by this Contract, terminate the services of Contractor under this Contract, take possession of all materials and appliances located on said real property, and complete the work required by this Contract. Contractor shall be deemed to have committed an act specified in this paragraph if it shall: (a) Be adjudged a bankrupt; (b) Make a general assignment for the benefit of its creditors; (c) Refuse or fail to supply enough properly skilled workers or proper materials to complete the work required by this Contract within the time specified in this Contract; (d) Fail to make prompt payment to subcontractors, laborers, or material men for labor performed or materials furnished to the work required by this Contract; (e) Persistently disregard any law or ordinance relating to the work required by this Contract or the completion thereof; or (f) Otherwise commit a substantial violation of any provision of this Contract. 17. RIGHTS ON TERMINATION BY AGENCY Should Agency terminate the services of Contractor under this Contract and complete the work pursuant without Contractor, Contractor shall not be entitled to receive any further payment under this Contract until the work is fully completed. On completion of said work by Agency, if the unpaid balance of the contract price exceeds the expenses incurred by Agency in completing the work, including any compensation paid by Agency for managerial, administrative, or supervisorial services in completing the work, such excess shall be promptly paid by Agency to Contractor to the extent required to compensate Contractor for the work performed. If, however, on completion of the work by Agency, the expenses incurred by Agency in completing said work, including any compensation by Agency for managerial, administrative, or supervisorial services in completing said work, exceed the unpaid balance of the contract price, such excess shall be promptly paid by Contractor to Agency. 18. CONTRACTOR'S POWER TO TERMINATE CONTRACT Should Agency fail to pay to Contractor within thirty (30) calendar days after such receipt of proper invoice, without just cause, any amount payable by Agency to Contractor, Contractor may, by giving fifteen (15) calendar days written notice thereof to Agency, terminate its services under this Contract and stop work on said Property. 19. LIQUIDATED DAMAGES Contractor and Agency agree that it would either be impractical or extremely difficult to fix actual damages in the event Contractor fails to complete the described work within the timeresc9 ed by this p