R2002-57 ACCEPTING THE BID AND AUTHORIZING THE EXECUTION OF AN AGREEMENT

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ARTICLE 2 T�iE WORI�OF TflIS C�NTRACT � The Contractor shall fully execute the Work described in the Contract�ocuments,except to the i extent specifically indicated in the Contract Documents to be�e responsibility of others. 2.1 Specified scope of work: , As per attached bid, revised and dated February 27, 2002;Exhibit"A" , As per drawings and specifications to be developed frorri the bid. Alternates one,two and three from the bid. ARTICLE 3 DATE OF COMMENCEMENT '� 31 The date of commencement of the Work shall be the date of this Agreement unless a different date is stated below or provisions are made for the date to be fixed in a notice to proceed ' issued by the Own�. �� ARTICLE 4 CONTRACT SUM 'I 4.1 The Owner shall�y the Contractor the C�tract Sum in cument funds for the Contractor's performance of the Contrac�t. The Contract Sum: $Three Hundred SiXtv-six Thousa,nd, Seventeen and 00/1fl0(_�3b(:,017.fl{��subjcct to additions and deductions as�x-ovided in tfie C�tract Docum�ts. 4.2 The Contract Swn is based upon the following alternates,if any,which are described in the Contract Documents and are h�eby accepted by the Owner: Alternate One:Performance Bond Alterna#e Two:Buildec's Risk tnsuraauce Po9icy Alternate T6ree:Underground Electrical Service 4.3 Unit prices,if any,are as follows: No Unit Prices ARTICLE 5 PAYMENTS 5.1 PROGRESS PAYMENTS 5.1.1 Based upon Applications for Payment submitted to the Ovmer by the Contractor, the Own�shall make progress payments on account of the Contract Sacn to the Contractor as provided below and elsewhere in the Contract Documents. 5.i.2 11ie p�iod coved by eac�Applicatia�for Paym�t shall be+one cai�dar m�t� ending�the last day of the month,or as follows: 5.1.3 Provid�that the Owner receives an Application for Payment no later than the 2°d Tuesday of a m�th,the Own�shall make payments to the Contractor not tater than 7 days from detivery of application. If the Owner receives an Application for Pay�n�t after tt�e ap�lic�tion date�ixced abc>ve,the Ovm�shall make payment nat later t�an 12 days after ti�e(hvna receives the Applicakion f�Payment 5.1.4 Each A�licatio�►for Payment shall be based on the most recent schedule of values submitted by the Ca�tractor in accordance with the Contract Documents.