Laserfiche WebLink
AGENCY'S PI~~ER T~ TE1~N.ATE <br />Should Contractor commit any of the acts specified in this paragraph, Agency may, by gluing ten <br />X10} calendar days notice in writing thereof to Contractor, without prejudice to any other rights or remedies <br />given Agency by law or by this Contract, terminate the services of Contractor under this Contract, tape <br />possession of all materials and appliances located on said real property, and complete the work required by <br />this Contract. Contractor shall be deemed to have committed an act speci~.ed in this paragraph if it shall: <br />~a} Be adjudged a bankzupt; <br />~b~ Make a general assignment for the benefit of its creditors; <br />~c~ Refuse or fail to supply enough properly skilled worl~ers or proper materials to complete the <br />work required by this Contract within the time specified in this Contract; <br />~d} Fail to mane prompt payment to subcontractors, laborers, or material men for labor <br />performed or materials furnished to the work required by this Contract; <br />~e~ Persistently disregard any law or ordinance relating to the work required by this Contract <br />or the completion thereof; or <br />~~ Otherwise commit a substantial violation of any provision of this Contract, <br />RIGHTS ~N TERMINATION BY AGENCY <br />Should Agency terminate the services of Contractor under this Contract and complete the warp <br />pursuant without Contractor, Contractor shah. not be entitled to receive any further payment under this <br />Contract until the work is fully completed. On completion of said worm by Agency, if the unpaid balance of <br />the contract price exceeds the expenses incurred by Agency in completing the work, including any <br />compensation paid by Agency for managerial, administrative, or supervisorial services in completing the <br />warp, such excess shall be promptly paid by Agency to Contractor. If, however, on completion ofthe worl~ <br />by Agency, the expenses incurred by Agency in completing said work, including any compensation by <br />Agency for managerial, administrative, or supervisorial services in completing said work, exceed the unpaid <br />balance of the contract price, such excess shall be promptly paid by Contractor to Agency. <br />C~NTRACT(~R'S P4]wEl~ TQ TERMINATE C[INTRACT <br />Should Agency fail to pay to Contractor within thirty X30} calendar days after such receipt of proper <br />invoice, without just cause, any amount payable by Agency to Contractor, Contractor maY, by giving fifteen <br />~15~ calendar days written notice thereof to Agency, terminate its services under this Contract and stop <br />work on said Property. <br />LIQUIDATED DAMAGES <br />Contractor and Agency agree that it would either be impractical or extremely cliff cult to fix actual <br />damages in the event Contractor fails to complete the described work within. the time prescribed by this <br />Contract. In connection therewith, Contractor agrees to pay Agency liquidated damages for each calendar <br />day beyond the date when completion is required hereinabove, excluding extensions as stated, below in the <br />following amount: One Hundred Dollars ~$100.00~ per calendar day. The amount of liquidated damages <br />shall be deducted from the Contractor's Retention Payment at proj ect completion. If at any time the amount <br />of liquidated damages exceed the amount of Retention Payment, there shall not be any payment to the <br />Contractor until such tune that the amount of payment due the Contractor exceeds the amount of liquidated <br />damages. <br />3 5 9 EXHIBIT 2 <br />