1980-737-R - Laserfiche WebLink

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4. The City of Batesville has elected to perform the proposed work with its own forces, equipment, and materials which work is described as follows: �r Improvement of street intersection radii. 5. In furtherance of this project, the City of Batesville, as Sponsor of this project, has made a Performance Bond, executed by a Bonding Company authorized to do business in this State, in the penal sum of $52,175.00 which is 100 per- cent of the estimated cost of said work and the materials entering into said improvement. 6. The City of Batesville, as Contractor, agrees to perform this work at the unit prices shown on the proposal schedule. As the work undertaken by the City of Batesville hereunder progresses, the Arkansas State Highway and Transportation Department in its supervision thereof will from time to time issue partial estimates, based on work performed at the (W Negotiated Unit Prices until the work is completed and will credit to or pay to the City of Batesville in accordance with paragraph No. 2 thereof, from Federal funds received for account of this project, ninety percent of such estimates, subject to the limitations and withholdings contained in Section 109 of the Standard Specifications for Highway Construction, Arkansas Highway Commission, Edition 1978, and final payment will be made upon the completion and acceptance of said job, subject to correction for changes made in the final voucher as paid by the Federal Highway Administration. 7. The City of Batesville agrees, for the consideration hereinafter expressed to begin work within ten days after a Work Order is issued by the Chief Engineer and to complete the work within two hundred seventy-five working days. Should the said City of Batesville failto complete the work within the time limit herein specified, said City shall pay to the State Highway Commission, as