the OWNER. The principal will be held by the bank, available only to the OWNER, until
termination of the contract.
2. Untilthe work is 50% complete, as determined by the ENGINEER, retainage shall be 10%
of the monthly payments claimed. The computed amount of retainage will be deposited
in the escrow account established above.
B. as provided in paragraph 11.03 of the General Conditions estimated quantities are not
guaranteed, and determinations of actual quantities and classification are to be made by ENGINEER as provided
in paragraph 9.08 of the General Conditions. Unit prices have been computed as provided in paragraph 11.03
of the General Conditions.
ARTICLE 6 - PAYMENT PROCEDURES
6.01 Submittal and Processing of Payments
4.02 Dates for Substantial Completion and Final Payment
The anticipated Commencement date for the contract is on or about March 22, 2021. Project will begin
once a written “Notice to Proceed” is issued.
Substantial Completion shall be by October 15, 2021. Substantial completion is defined in Section 1.01 of
the General Terms and Conditions.
Contract completion shall be by October 31, 2021.
4.03 Liquidated Damages
STANDARD FORM OF AGREEMENT
BETWEEN OWNER AND CONTRACTOR
THIS AGREEMENT is dated as of the day of in the year 2021 by and between the
City of Nashua, New Hampshire (hereinafter called OWNER) and __Sunshine Paving Corporation
and its successors, transferees and assignees together hereinafter called CONTRACTOR).
OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as
follows:
DIVISION 4
CONTRACT AGREEMENT
INSERT CERTIFICATE OF LIABILITY INSURANCE
COI-1
PROVIDED, FURTHER, that the said surety, for value received hereby stipulates and agrees
that no change, extension of time, alteration or addition to the terms of the contract or to WORK
to be performed thereunder or the specifications accompanying same shall in any way affect its
obligation on this BOND, and it does hereby waive notice of any such change, extension of time
alteration or addition to the terms of the contract or to the WORK or to the specifications.
CONSTRUCTION PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS: that
(Name of Contractor)
(Address of Contractor)
a , hereinafter called Principal,
(Corporation, Partnership or Individual)
and
(Name of Surety)
(Address of Surety)
hereinafter called Surety, are held and firmly bound unto
(Name of Owner)
(Address of Owner)
hereinafter called OWNER, in the total aggregate penal sum
of
Dollars, $( )
IN WITNESS WHEREOF, this instrument is executed
in
which shall be deemed an original,
this
ATTEST:
By:
(Principal) Secretary
(SEAL)
By:
Witness as to Principal
(Address)
ATTEST:
By
Witness as to Surety
(Address)
counterparts, each one of
(number)
day of , 20
Principal
BY
(Address)
(Surety)
BY
Attorney - in - Fact
(Address)
PROVIDED, that beneficiaries or claimants hereunder shall be limited to the subcontractors, and
persons, firms, and corporations having a direct contract with the PRINCIPAL or its
SUBCONTRACTORS.
