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CITY OF SANTA ANA CONSTRUCTION CONTRACT Rr *d No.15.6839 Local street slaw sea! 3. CITY agrees to pay and CONTRACTOR agrees to accept in full payment to complete the PROJECT the sum total amount not to exceed $2,472 „500, as set forth and identified in the BrD PROPOSAL, which is attached hereto and incorporated herein as Exhibit Ow, The BID PROPOSAL contains a schedule of unit price(s) or lump sumCs) based on approx=imate quantities only, and the City= does not expressly or by implication agree that the actual amount of work will correspond therewith, but reserves the right to increase or decrease the amount of any class or portion of the work or to omit portions of the work as maybe deemed necessary or advisable. 4. CONTRACTOR agrees to complete the PROJECT within the tune specified in the Time for Completion of Improvements semon of the BID PROPOSAL (Rxldbit 'Wo including commencing construction within the titneframe therein specified after issuance of a Notfco, to Proceed. 5. The CONTRACTOR will pay, and wild require all subcontractors to pay, all employees an the PROJECT a salary or wage at least equal to the prevailing salary or wage established for such work as set forth in the wage determinations for this work in accordance with applicable State and Federal law. 6, CONTRACTOR shall, after award of this Contract, furnish two fronds to be approved by the CITY, one in the amount of One Hundred Percent (1006) of the Contract price, to guarantee the faithful performance of the work (Performance bond), and one in the amount of One Hundred Percent (1II0%) of the Contract price to guarantee payineut of all claims for labor and materials furnished (Payment Bond), This Contract shall not become effective until such bonds are supplied to and approved by the CITY, CONTRACTOR shall, prior to the release of the performance and payment fronds or the retention payment, furnish a warranty performance and payment bond equal to at least tan (100A) percent of the final Contract price or $1,000, whichever is greater (Warranty llcrnd). 7. CONTRACTOR shall, upon protect completion as a condition of project acceptance, furnish a Warranty Payment and Performance bond to be approved by the C7"C , in the amount of Twenty -Five Percent (250A) of the Contract price, to warrant the work done under said Contract Agreement against material or quality defects for a period of one year after acceptance by the AGENCY. B. CONTRACTOR shall, after award of this Contract, furnish Certificates of Liability Insurance and Worker's Compensation Insurance as outlined in the General Provisions, to tae approved by the CITY. Page 2 of 3