1972-648-R - Laserfiche WebLink

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pay to the City of Batesville in accordance with paragraph No. 5 hereof, from Federal funds received for account of this project, Ninety percent of such estimates, subject to the limitations and withholdings contained in paragraph No. 5 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 ninety (90) :cork days. Should the said City of Batesville fail to complete the work within the time limit herein specified, said City shall pay to the State Highway Commission, as liquidated damages, ascertained and agreed, and not in the nature of a penalty, the sum of twenty five dollars ($25.00) for each day delayed, which shall be deducted from the final amount of estimate made the City. Should the said City of Batesville fail to complete the work in an acceptable manner, or default in any requirement of it hereunder, the Arkan- sas State Highway Department shall have the right to complete all or any portion of the work with means at its command and pay for same from funds to be realized from the Performance bond set up in paragraph No. 5. In no case can any portion of the construction cost of this project be borne by the Arkansas State Highway Department. 8. The City of Batesville further agrees upon completion of the project to assume the maintenance of the installation by City forces and/or others in accordance with the prevailing applicable federal and Arkansas State Highway Commission regulations.