HomeMy WebLinkAbout21-80 RESOLUTIONRESOLUTION NO. a ka'O
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A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE A CONTRACT WITH JERRY SWEETSER CONSTRUCTION COMPANY
FOR THE RELOCATION OF WATER MAINS AT THE INTERSECTIONS OF
U.S. HIGHWAY NO. 71 WITH CATO SPRINGS ROAD AND U.S. HIGHWAY
NO. 71 WITH ARKANSAS HIGHWAY 62 WEST.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
That the Mayor and City Clerk are hereby authorized and
directed to execute a contract with Jerry Sweetser Construction
Company for the relocation of water mains at the intersections
of U.S. Highway No. 71 with Cato Springs Road and U.S.
Highway No. 71 with Highway 62 West at a total contract
price of $58,104.55. A copy of the contract authorized for
execution hereby is attached hereto marked Exhibit "A" and
made a part hereof.
PASSED AND APPROVED this day of 1980.
ATTEST:
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(SEAL)
LERK
APPROVED
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MAYOR
00 so
14,00 woe
Gen. 348 (1-73)
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RTIFICATE OF INSURANCE
This is to certify that the policies listed in this Certificate have been issued to the Named Insured by the Company designated
below. This Certificate des not amend, extend or otherwise alter the terms, conditions or exclusions of such policies.
Issued To (Name and Address)
I—
City of Fayetteville
Fayetteville, AR 72701
u
P.
Named Insured and Address:
Jerry D. Sweetser, Inc.
P.O. Box 4217
Policy Number
Faye
Policy Terni
eville, AR 72701
Type of Insurance
Limits of Liability_
Bodily Injury Property Damage'
393900664887
10/23/79 8
Workmen's Compensation
Arkannao Stat tory
lommflmilitill
$ ,000
Each Person
Employers' Liability
$ , 000
Each Accident
+;;•
$ , 000
Medical - Each Person
Comprehensive Automobile
$ ,000
Each Person
BAP1024499
10/30/79-80
Liability
$ , 000
Each Occurrence
$ , 000
Comprehensive General
500
$ , 000
Each Occurrence
$ .000
'�-
Liability
a500�
Aggregate Operations
$ 500 , 000
:=
AggregateProtective
$ 000
1CCC81437
10/30/79-80
Including Blanket
❑ Contractual Liability
$ , 000
Aggregate Completed
Operations and Products
$ , 000
,T
Manufacturers' and
$ 1000
Each Occyrrence
$ , 000
.
Contractors' Liability
—`
Aggregate
$ , 000
Owners', landlords' and
$ , 000
Each Occurrence
$ , 000
Tenants' Liability
' 1
Aggregate
$ , 000
Completed Operations and
$ , 000
Each Occurrence
$ , 000
Products Liability
$ , 000
Aggregate
$ , 000�a
$ 0000
Each Occurrence
$ , 000
:
g',
"'
a
Contractual Liability
Aggregate
$ , 000
€,-
Comprehensive Excess
$ , 000
Each Occurrence
Combined Personal
$ , 000
Aggregate
Injury andIndemnity
Property DamagePE
esr
Description and
The Company
but assumes no
_ UNITED
❑ FIDELITY
location of
designated
responsibility
STATES
AND
operations and automobiles covered:
below will make every effort to notify the holder of this Certificate of any material change in or cancellation of these policies,
for failure to do so.
FIDELITY AND GUARANTY COMPANY
GUARANTY INSURANCE UNDERWRITERS, INC.
-
-..
By a�
Date
February 7, 1980
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Gen. 348 (1-73)
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ARKANSAS PERPOY"_1CCr AND PAYMENT BOND
(1.1-60-I Arkansas Statutes)
KNOW ALL MEN BY THESE PRESENTS: That we (1) Jerry D. Sweetser, Inc.
a (2) Corporation
United States Fidelity
(3) and Guaranty Co. of
, hereinafter called "Principal" and
Baltimore
of•
Maryland hereinafter called the "Surety", are held and
firmly bound unto (4) City of Fayetteville, Arkans%sL,reinafter called
Fifty -Eight Thousand, One hundred four
"Owner" In the penal sum of and 551100 dollars (S 58,104.95
in lawful money of the United States, for the payment of which sum well
and truly to be made, said principals and Surety bind themselves, their
heirs, administrators, executors, successors and assigns, jointly and
severally, by these presents.
THE COI;DITIO:: OF THIS OSLIGATIQN is such that whereas, the Princival
entered into a certain contract with the Owner, dated the 7th
day of February , 19 80, a copy of which is attached and made a cart
hereof for the construction of: water relocation Highway 71 Bypass and
Highway 265 Interchange Water Relocation, Fayetteville, Arkansas
in accordance with plans and specifications prepared by City
r.
NOW, THEREOPRE, if the Principal shall well, truly and faithfully perform
its duties, all the undertakings, covenants, terms, conditions, and agree-
ment of said contract during the original term thereof, and any extensions
thereof which may be granted by the Omer, with or without notice to the
Surety, and if he shall satisfy all claims and demands incurred under such
contract, and shall fully indemnify and save harmless the Owner from all
costs and damages which it may suffer by reason of failure to do so, and
shall reimburse and repay the Owner all outlay and expense which the Owner
may incur in making good any default, and shall promptly make payment to all
persons, firms, subcontractors and corporations furnishing material for or
performing labor in the prosecution of the work provided for in such contract,
any any authorized cxtension.or modification thereof, all amou.it:, due for,
but not limited to, materials, lubricants, oil, gasoline, coal and coke,
repair on machinery, equipment and tools consumed or used in connection with
the construction of said work, fuel oil, camp equipa,n , food for men, feed
for animals, premium for bonds and liability and workman's compensation
insurance, rentals on machinery, equipment and draft animals; also for taxes
or payments due the State of Arkansas or any political subdivisions thereof
which shall have arisen on account of, or in connection with, the wages
earned by workmen covered by the bora; and for all labor performed in such
work whether by subcontractor or otherwise, then this obligation shall be'
void, otherwise to remain in full force and effect.
7
ft
The su"dt•_ agrees
t'
the principal
the terns; of this bona shall cover the payment by
of not less than the preva:ling hourly rote of .:.age, as
determined by the Arkansas Denarta-nt of Labor or U. S. Secretary of
Labor, whichever is greater, to all workmen. performing work under the
contract.
PROVIDED FURTHER, that the said Surety, for value received, hereby
stipulates and agrees that no change extension of tine, alternation,
or addition to the terms of the contract or to the work to be per_ormed
thereunder of the specifications accompanying the same, shall in any wise
affect its obligation on this bond, and it does hereby waive notice of
such change, extension of time, alteration or addition to the terms of
contract as to the work or to the specifications.
PROVIDED FURTHER, that no final settlement between the Owner and the
contractor shall abridge •the right of any beneficiary hereunder, whose
claim may be unsatisfied.
Iu nT::ESS wurrrcr, this instrument is executed in six (6) countermar
each of which shall be deemed an original, this 7th day of
February , 19 80 .
ATTEST:
S
Si/ACEA.40.vto TAEY (PRI'AL
Jer D. Sweetser-
(P e.AL)
(SEAL)
ATTEST:
SECRETARY (SURETY)
(SEAL)
President
P 0 Rnx 479 Fayettevi
(ADDRESS)
United States Fidelity
(SURETY)
BY
ATTORiNEY-IN-FACT Neil
P.O.
ADDRESS
WITNESS AS TO ATTOSNEYjFACT
A. P. Eason, Jr.
P.O. Bbx 4217, Fayetteville, AR
ADDRESS
.01
& Guaranty Co.
\y11 -11,r,,
Danner / \cat
^' '^
ti
Box 4217, Fayettevild A /^
,
CERTIFIED COPY
GENERAL POWER OF ATTORNEY
No 83788
Know all Men by these Presents:
That UNITED STATES FIDELITY AND GUARANTY COMPANY, a corporation organized and existing under the laws of the
State of Maryland, and having its principal office at the City of Baltimore, in the State of Maryland, does hereby constitute and appoint
Neil Danner
of the City of Fayetteville
its true and lawful attorney in and for the State of
, State of
Arkansas
Arkansas
for the following purposes, to wit:
To sign its name as surety to, and to execute, seal and acknowledge any and all bonds, and to respectively do and perform any and
all acts and things set forth in the resolution of the Board of Directors of the said UNITED STATES FIDELITY AND GUARANTY
COMPANY, a certified copy of which is hereto annexed and made a part of this Power of Attorney; and the said UNITED STATES
FIDELITY AND GUARANTY COMPANY, through us, its Board of Directors, hereby ratifies and confirms all and whatsoever the said
--tit'' `.'Y`'" Neil Danner
o V $"
lawfnlly,Bo in AC -premises by virtue of these presents.
,k `-fin tinercIThereof, the said UNITED STATES FIDELITY AND GUARANTY COMPANY has caused this instrument to be
Y
,a ledaw��it•I"N��te rporraate seal, duly attested by the signatures of its Vice -President and Assistant Secretary, this 25th day of
�' �"L^i' 1 May , A. D. 1973
'rr%�rAti'� UNITED STATES FIDELITY AND GUARANTY COMPANY.
(SEAL)
STATE OF MARYLAND,
BALTIMORE CITY, )}
ss:
(Signed)
(Signed)
By
Bertram W. Sealy, Jr.
David L. Royer
Vice -President.
Assistant Secretary.
On this 25th day of May , A. D. 1973 , before me personally came
Bertram W. Sealy, Jr. , Vice -President of the UNITED STATES FIDELITY AND GUARANTY
COMPANY and David L. Royer , Assistant Secretary of said Company. with both of
whom I am personally acquainted, who being by me severally duly sworn, said that they resided in the City of Baltimore, Maryland;
that they, the said Bertram W. Sealy, Jr. and David L. Royer were respectively
the Vice•President and the Assistant Secretary of the said UNITED STATES FIDELITY AND GUARANTY COMPANY, the cor•
poration described in and which executed the foregoing Power of Attorney; that they each knew the seal of said corporation; that the
seal affixed to said Power of Attorney was such corporate seal, that it was so fixed by order of the Board of Directors of said corpora.
tion, and that they signed their names thereto by like order as Vice -President and Assistant Secretary, respectively, of the Company.
My commission expires the first day in July, A. D. 19. 74.....
(SEAL)
STATE OF MARYLAND }
BALTIMORE CITY,
I, Robert H. Bouse , Clerk of the Superior Court of Baltimore City, which Court is a
Court of Record, and has a seaL do hereby certify that Herbert J. Aull , Esquire, before
whom the annexed affidavits were made, and who has thereto subscribed his name, was at the time of so doing a Notary Public of the
State of Maryland, in and for the City of Baltimore, duly commissioned and sworn and authorized by law to administer oaths and take
acknowledgments, or proof of deeds to be recorded therein. I further certify that I am acquainted with the handwriting of the said
Notary, and verily believe the signature to be his genuine signature.
In Testimony Whereof, I hereto set my hand and affix the seal of the Superior Court of Baltimore City, the same being a Court
of Record, this 25th day of May
(SEAL) (Signed)
Set.
(Signed) Herbert J. Aull
Notary Public.
FS 3 (9.67)
, A. D.1973
Robert H. Bouse
Clerk of the Superior Court of Baltimore City.
Us
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4
SPECIFICATIONS
FOR
HIGHWAY 71 BYPASS AND HIGHWAY 265 INTERCHANGE
. WATER RELOCATION
WORK ORDER # 2634
January 16, 1980
CITY OF FAYETTEVILLE
FAYETTEVILLE, ARKANSAS
CITY ENGINEERS' OFFICE
INDEX
ADVERTISEMENT FOR BIDS 1
BID BOND 2
PROPOSAL FOR SCHEDULE I 4
ARKANSAS PERFORMANCE AND PAYMENT BOND 7
CONTRACT AGREEMENT 10
INSTRUCTIONS TO BIDDERS I.T.B.-1
GENERAL CONDITIONS OF THE SPECIFICATIONS G. C. - 1
DETAILED SPECIFICATIONS PART I CONTRACT STIPULATIONS D. S. - 1
DETAILED SPECIFICATIONS PART II CONSTRUCTION SPECIFICATIONS D. S. - 3
DETAILED SPECIFICATIONS PART III MATERIALS D. S. - 14
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1-44
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ADVERTISEMENT FOR BIDS
Project No. 2634
City of Fayetteville, Arkansas
R, .
(Owner)
Separate sealed bids for Water line relocation at Highway 71 Bypass
and 265 Interchange will be received by Sturman Mackey
at the office of
Purchasing & Budgeting - City Administration Building
until 10:00 o'clock (A.M.
February 7,
19 80, and then at said office publicly opened and read aloud.
The Information for Bidders, Form of Bid, Form of Contract, Plans,
Specifications, and Forms of Bid Bond, Performance and Payment Bond, and
other contract documents may be examined at the following:
City Engineer's Office - City Administration Building
113 West Mountain Street - Fayetteville, Arkansas
Copies may be obtained at the office of
located at
113 West Mountain
The City Engineer
upon payment of $
for each set. Any unsuccessful bidder, upon returning such set promptly
and in good condition, will be refunded his payment, and any non -bidder
upon so returning such a set will be refunded $
The owner reserves the right to waive any informalities or to reject
any or all bids.
Each bidder must deposit with his bid, security in the amount, form
and subject to,the conditions provided in the Information for Bidders.
Attention of bidders is particularly called to the requirements as
to conditions of employment to be observed and minimum wage rates to be
paid under the contract.
No bidder may withdraw his bid within 30 days after the actual date
of the opening thereof.
(Date)
Published in Northwest Arkansas Times on January 23 and 30 of 1980.
•
1
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BID BOND
KNOW ALL AEN BY THESE PRESENTS, that we, the undersigned,
as Principal, and
as Surety, are hereby held
and firmly bound unto as owner
in the penal sum of
for the payment of which, well and truly to be made, we hereby jointly
and severally bind ourselves, our heirs, executors, administrators,
successors and assigns. Signed this day of
19
The condition of the above obligation is such that whereas the Princical
has submitted to
certain bid, attached hereto and hereby made a part hereof to enter into a
contract in writing, for the
a
NOW THEREFOR,
(a) If said Bid shall be rejected, or in the alternate.
(b) If said Bid shall be accepted and the Principal shall execute
and deliver a contract in the Form of Contract attached hereto
(properly completed in accordance with said Bid) and shall
furnish a bond for his faithful performance of said contract,
and for the payment of all persons performing labor or
furnishing materials in connection therewith, and shall in
all other respects perform the agreement created by the
acceptance of said Bid.
then this obligation shall be void, otherwise the same shall remain in
force and effect; it being expressly understood and agreed that the
liability of the Surety for any and all claims hereunder shall, in no
event, exceed the penal amount of the obligation as herein stated.
The Surety, for value received, hereby stipulates and agrees that
the obligations of said Surety and its bond shall be in no way impaired
or affected by any extension of the time within which the Owner may
accept such 3id; and said Surety does hereby waive notice of any such
extension.
2
1
IN WITNESS WHEREOF, the Principal and the Surety have hereunto
set their hands and seals, and such of them as are corporations have
caused their corporate seals to be hereto affixed and these presents
to be signed by their proper officers, the day and year first set
forth above.
Principal
Surety
SEAL BY:
•
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4
PROPOSAL FOR SCHEDULE I
(A UNIT PRICE CONTRACT)
Place f
Date
Proposal of (, L ,(A]4Lo
/
aa/c/�orpo/r tion* organized d existing under the laws of the State of
l i[/2�/ e,fL> ,land qualified to do business in the State of Arkansas:
a Partnership* consisting of
an Individual* trading as
TO THE CITY OF FAYETTEVILLE, ARKANSAS:
The bidder in compliance with your invitation for bids for the
construction of Highway 71 Bypass and Highway 265 - Water Relocation
•
having examined
the Plans and Specifications with related documents and the site of the pro-
posed work, and being familiar with all the conditions surrounding the work,
including the availability of materials and labor, hereby proposes to furnish
all labor, material, and supplies required to be furnished, and to construct
the project in accordance with the Contract Documents, and at the unit prices
stated below. These prices are to cover all expenses incurred in performing
the work required under the Contract Documents, of which this proposal is a
part.
Bidder hereby agrees to commence work under this contract on a date to
be specified in a written "Word Order" of the Engineer, and to fully complete
the project within 25 consecutive calendar days.
Bidder acknowledges receipt of the following addenda:
2710l
* Fill out applicable blank
WATER RELOCATION U.S. 71 BYPASS & [IWY 62 INTERCHANGE AND U.S'. 71 BYPASS
AND CA'I'0 SPRINGS ROAD INTERC[IANGE
/t r
1
ITCH
NO.
SCHEDULE "B"
ESTIi•U1TED QUANTITY
AND DESCRIPTION
UNIT**
PRICE
1.
TOTAL
385 L.F. 12" D.I. Pipe Class 50
Rolla
s
X73 s e?, I of
2. 240 L.F. 24" Steel Encasement Pipe Dolla
$ , roo $ o
3. 4 Each 8" Tapping Sleeve
and Valve
s 3 09‘.(x)
4. 1 Each 12" Gate Valve w/box
Dollars
1 Each 8" Gate Valve w/box
s 6 /2)•06 $ 6/aid
jaatteiLlei
o lars
$ el4aDi)
6. 40 L.F. Highway Bore
24" Steel Encasement
Dollars
$ 7b� GO $ 4/C'a) (/U
7. 30 Tons of SB -2
Dollars
$ 046/ $ 306 /)
deadia a, ; Co,friteLi
Total amount of bid
5a
$ k9 7 os
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WATER - RELOCATION - U.S. 71 BYPASS AND CATO SPRINGS ROAD
SCHEDULE "A"
1.
2
ITEM
NO.
ESTIMATED QUANTITY
AND DESCRIPTION
UNIT**
PRICE
TOTAL
1610 L.F. 12" D.I. Pipe Class 50 -; 'Guo 1
* (See note below) i•Ltiar 4141; )
Gam" Dollar
$167:5 $ ' SS D
120 L.F. Highway Bore Dollars
24" Steel Encasement
$ 7000
$ ForflDOyOD
40 L.F. 24" Steel Encasement Dollars
pipe
$ 61;00
'Paid F
4. 1 Ea 8" Gate Valve w/Box
ollars
$ 44 $ 341°16°
5. 1 Ea 12" Gate Valve w/Box Dollars
$ ,UD $ l /O,UU
�P.ec
6. 50 Tons of SB -2
Dollars
1
Total amount of Bid l $ ����(l/t�
V
i/
* NOTE: Fittings, bedding SB -2, and solid rock excavation shall all be
included in the unit price of pipe.
**
Unit prices to be shown in words and figures. In case of discrepancy
amount shown in words will govern.
5
The above unit prices shall
overhead, profit, insurance, etc.
kinds called for.
include all labor, materials, bailing, shoring,
, to cover the finished work of the several
Bidder understands that the Owner reserves the right to reject any or all
bids and to waive any informalities in the bidding.
The Bidder agrees that this bid shall be good and may not be withdrawn for
a period of Sixty (60) calendar days after the scheduled closing time for
receiving bids.
Upon receipt of written notice of the acceptance of this bid, bidder
will execute the formal contract attached within ten (10) days and deliver
the Surety Bond or Bonds as required by Paragraph 8 of the General Conditions.
The bid security attached in the sum of
is to become the property of the Owner in the event the contract and bond are
not executed within the time above set forth, as liquidated damages for the
delay and additional expense to the Owner caused thereby.
Respectfully Submitted:
,r'''— Stay; if bid is by a corporation
„
PO
6
/7/n q
Address and Zio Code)
l
ARKANSAS PERFORMANCE AND PAYI.E3NT BOND
(14-604 Arkansas Statutes)
KNOW ALL €N BY THESE PRESENTS: That we (1)
a (2) , hereinafter called "Principal" and
(3) of State of
hereinafter called the "Surety", are held and
firmly bound unto (4) , hereinafter called
"Owner" in the penal sum of dollars ($ ),
in lawful money of the United States, for the payment of which sum well
and truly to be made, said principals and Surety bind themselves, their
heirs, administrators, executors, successors and assigns, jointly and
severally, by these presents.
THE CONDITION OF THIS OBLIGATION is such that whereas, the Principal
entered into a certain contract with the Owner, dated the
•
day of , 19 , a copy of which is attached and made a part
hereof for the construction of:
NOW, THEREOFRE, if the Principal shall well, truly and faithfully perform
its duties, all the undertakings, covenants, terms, conditions, and agree-
ment of said contract during the original term thereof, and any extensions
thereof which may be granted by the Owner, with or without notice to the
Surety, and if he shall satisfy all claims and demands incurred under such
contract, and shall fully indemnify and save harmless the Owner from all
costs and damages which it may suffer by reason of failure to do so, and
shall reimburse and repay the Owner all outlay and expense which the Owner
may incur in making good any default, and shall promptly make payment to all
persons, firms, subcontractors and corporations furnishing material for or
performing labor in the prosecution of the work provided for in such contract,
any any authorized extension or modification thereof, all amounts due for,
but not limited to, materials, lubricants, oil, gasoline, coal and coke,
repair on machinery, equipment and tools consumed or used in connection with
the construction of said work, fuel oil, camp equipment, food for men, feed
for animals, premium for bonds and liability and workmen's compensation
insurance, rentals on machinery, equipment and draft animals; also for taxes
or payments due the State of Arkansas or any political subdivisions thereof
which shall have arisen on account of, or in connection with, the wages
earned by workmen covered by the bond; and for all labor performed in such
work whether by subcontractor or otherwise, then this obligation shall be
void, otherwise to remain in full force and effect.
7
•
The Surety agrees the terms of this bond shall cover the payment by
the principal of not less than the prevailing hourly rate of wages as
determined by the Arkansas; Department, of Labor or U. S. Secretary of
Labor, whichever is greater, to all workmen performing work under the
contract.
PROVIDED FURTHER, that the said Surety, for value received, hereby
stipulates and agrees that no change, extension of time, alternation,
or addition to the terms of the contract or to the work to be performed
thereunder of the specifications accompanying the same, shall in any wise
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 as to the work or to the specifications.
PROVIDED FURTHER, that no final settlement between the Owner and the
contractor shall abridge the right of any beneficiary hereunder, whose
claim may be unsatisfied.
IN WITNESS WHEREOF, this instrument is executed in six (6) counterparts,
each of which shall be deemed an original, this day of
, 19 .
ATTEST:
(PRINCIPAL)
BY
SECRETARY (PRINCIPAL) (TITLE)
(SEAL)
(ADDRESS)
WITNESS AS TO PRINCIPAL (SURETY)
BY
ADDRESS ATTORNEY-IN-FACT
ATTEST:
SECRETARY (SURETY)
(SEAL)
WITNESS AS TO ATTORNEY-IN-FACT
ADDRESS
ADDRESS
8
NOTE:
(1)
(2)
(3)
(4)
(5)
(6)
(7)
Date of Bond must not be prior to date of Contract.
Correct name of Contractor
A Corporation, a Partnership, or an individual, as case may be
Correct name of Surety
Correct name of Owner
If Contractor is Partnership, all partners shall execute bond
This bond must be filed with the Circuit Court of the County
where the work is to be performed, prior to the start of const-
ruction
Must be executed by Arkansas Local Resident Agency for Surety
9
CONTRACT AGREEMENT
1. This Contract;and.Agreement, made and entered into this
18th day of March , 1980 , by' and between the City of
Fayetteville, Arkansas, Party of the First Part, acting through its'
duly authorized representative, and Sweetser Construction Company, Inc.
Party of the Second Part:
WITNESSETH:
That for and in consideration of the payments to be made as
hereinafter set forth, the Party of the Second Part hereby agrees to
furnish all tools, labor, equipment, materials, and supplies required
to be furnished and to construct the improvements designated as Hwy 71
Rypaas & Hwy 265 Interchange Water Relo. for the City of Fayetteville,
Arkansas, in exact accordance with the Plans on file at the office of
the Party of the First Part, and Specifications, Proposals, Stipulations,
and Special Provisions attached hereto and made a part hereorrascfully 1.
as though copied herein, under the direct supervision and to t g, entired-
satisfaction of the Party of the First Part and in accordan$ble4.hrrthe
laws of the State of Arkansas. `",At-
n-
2. It is further agreed and understood by and between:ithe parties
,
hereunto that the Party of the First Part agrees to pay and�the�_Party
the Second Part agrees to accept as full and final compensation for all?
work done under this agreement, the unit prices named in the Proposal
which is hereto attached, such payment to be made in lawful money of the
United States, at the time and in the manner set forth in the Specifications.
3. The Party of the Second Part agrees, for the consideration
above expressed, to begin and complete the work within the time specified
in the Proposal. If the Party of the Second Part shall fail to complete
the work in the time specified, he shall pay to the Party of the First
Part, as liquidated damages, ascertained and agreed, and not in the
na,.ure of a penalty, the amount specified in the Proposal for each day
delayed, for each Schedule delayed, which shall be deducted from the
final amount to be paid under the contract, provided that extensions of
time with waiver of liquidated damages may be granted as provided for in
the Specifications.
4. The Party of the Second Part agrees to furnish a Bond, with
an approved Surety thereon, guaranteeing the performance of this Contract,
as required by the laws of the State of Arkansas, and for not less than
one hundred (100) percent of the amount of this contract. Said Bond
shall be conditioned on full and complete performance of this Contract
and acceptance by the Water and Sewer Department for the payment of all
labor and materials entering into or incident to the proposed improvements
and shall guarantee the work against faulty workmanship or materials for
a period of one (1) year after completion. The Surety on said Bond shall
10
be a Surety Company of financial resources satisfactory to the Party
of the First Part, and authorized to do business in the State of
Arkansas.
5. The Party of the Second Part agrees also to carry Public
Liability Insurance, Property Damage Insurance, and Workmen's Compensation
Insurance in amounts as required by these Specifications.
/(
WITNESS OUR HANDS THIS /O 1- DAY OF 7dAc-
WITNESS: 611
SEAL (ifany)
CITY OF FAYETTEVILLE
FAYETTEVT=1E, ARKANSAS')
i
By I/2(e(
&-nparicfrE
By f
WITNESS:
Affix Corporate Seal here (if any)
, 19K).
RCTOR �6%V�LC��
Cr
NAME AND T`
17U_��77
BUSI ESS ADDRESS
11