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Agenda - 04-16-1985
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Agenda - 04-16-1985
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10/5/2016 1:54:15 PM
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BOCC
Date
4/16/1985
Meeting Type
Regular Meeting
Document Type
Agenda
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9. PAYMENT AND COMPLETION AND LIQUIDATED DAMAGES <br /> 03E <br /> PAYMENT SHALL BE MADE ON THE BASIS OF 100% OF MONTHLY COSTS OF LABOR <br /> AND MATERIALS, INCLUDING FREIGHT OR HAULING ON RECEIPTED BILLS. <br /> EACH CONTRACTOR SHALL SUBMIT A MONTHLY INVOICE WHICH ITEMIZES THE <br /> COST 0F LABOR, MATERIALS AND NORTH CAROLINA SALES AND USE TAX PAID <br /> ON MATERIALS. PAYMENT SHALL BE DUE AND PAYABLE WITHIN TEN (10) DAYS <br /> AFTER THE CONTRACTOR' S INVOICE HAS BEEN CERTIFIED FOR PAYMENT BY THE <br /> ENGINEER, TOTAL PAYMENT SHALL NOT EXCEED NINETY PERCENT (90%) OF THE <br /> TOTAL CONTRACT. FINAL PAYMENT SHALL SE MADE TO THE CONTRACTOR WITHIN <br /> AND EVERY PROVISION OF THE SPECIFICATIONS AND ACCOMPANYING DRAWINGS <br /> COMPLETED TO THE- ENG/NEER' S SATISFACTION. ACCEPTANCE OF THE COMPLETED <br /> TO SHALL BE BY THE ENGINEER. <br /> THE WORK TO BE PERFORMED UNDER ALL CONTRACTS SHALL COMMENCE ON A DATE <br /> _ <br /> TO BE SPECIFIED IN WRITTEN ORDER FROM THE ENGINEER AND EACH CONTRACTO' <br /> • SHALL FULLY COMPLETE THE WORK SPECIFIED UNDER THE CONTRACT WITHIN <br /> NINETY (90) CALENDAR DAYS OF SAID DATE. • <br /> FOR EACH DATE IN EXCESS OF THE ABOVE STATED NUMBER OF DAYS AND AS <br /> ESTABLISHED UNDER THE PROVISIONS STATED. ABOVE, THE PRIME CONTRACTORS <br /> SHALL PAY, TO ORANGE COUNTY THE COMBINED RATE OF TWENTY FIVE. DOLLARS <br /> ($25. 00) AS LIQUIDATED DAMAGES. SUCH AN AMOUNT REPRESENTS A REASON- <br /> ABLY ESTIMATED COMPENSATION FOR THE LOSSES THAT WILL ACCRUE TO THE <br /> = COUNTY AS A RESULT OF FAILURE OF THE CONTRACTORS TO COMPLETE THE WORK <br /> WITHIN THE TIME SPECIFIED. <br /> THE ENGINEER SHALL DETERMINE THE DIVISION OF RESPONSIBILITY FOR THE <br /> DELAY AMONG THE CONTRACTORS, AND SHALL APPORTION THE AMOUNT OF <br /> LIQUIDATED DAMAGES TO BE PAID BY EACH OF THEM ACCORDING TO THE DELAY <br /> CAUSED BY ANY OR ALL OF THEM. " <br /> • <br />
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