MINUTE BOOK No. 17, CITY OF OXFORD

!MINUTE BOOK No. 17, CITY OF OXFORDpSI'Z34K-TOM L. KETCHINGS co., NATCHEZI!3. THE CONTRACTOR agrees to execute a Performance Bond~ in the form attached hereto, in anamount equal to not less than one hundred percent (100%) of the contract price with a surety orsureties satisfactory to the 0l¥NER.4. The CONTRACTOR shall begin work under this contract within:', twenty (20) calender daysafter written notification to proceed and shall faithfullY execute and fullY complete all workhereunder within 150 consecutive calendar ~s from and after said date.5. The Contract Price set forth under Paragraph 6 follOwing shall represent the total of allsums due the Contractor for work installed under this Contract and no order of the OWNER orENGINEER or any of their employees, either verbal or written, shall modify or act as a waiver ofthe Contract Price and the Contract Price shall not be modified in any fashion except by theexecution by the parties hereto of a Contract Amendment, approved by the ENGINEER and preparedin a form acceptable to the 01~ and the execution of an approved Contract Amendment by theparties hereto shall automaticallY modify the Contract Price in accordance with such executedContract Amendment, after which the amended Contract Price will govern until further amended byadditional Contract Amendment (s).00-16. In consideration of the faithful performance b.r the CONTRACTOR of all germs, conditions,and covenants of the Contract to the satisfaction of the OWNER, shall p~ and the OWNER shall payand the OO}ITRACTOR shall receive the lump sums or unit prices stipulated in the Contractor'sProposal in the total amount of ONE HUNDRED AND FIFTY EIGHT THOUSAND I TWO HUNDRED AND EIGHTY-FOUR--------------~-dollars and FIFTY cents,($158~284.50),whiCh total sum shall be known as theContract Price, as full compensation for all wor furnished and installed by the CONTRACTOR underthis contract, except that the Contract Price shall be subject to increase or decrease in accordancewith Contract Amendments as provided for under paragraph 5 above. Payments for said work shall bedue and payable as follows:7. Payment for work performed by the CONTRACTOR shall be made as follows:On this first day of each month, or as soon thereafter as possible, the CONTRACTORshall prepare and submit to the ENGINEER for approval a duly certified estimate of thework performed and the value thereof, during the preceding calandar month. Theestimate shall include all labor and materials incorporated in the work and all materialssuitably stored at the site of the work. Upon the approval of the estimate by theENGINEER, and not later than the fifteenth d~ of each calendar month, the OWNER shallpay to the CONTRACTOR ninety percent (90%) of the value of the estimate.Final payment shall be made to the CONTRACTOR by the OWNER within thirty (30) daysafter: (a) the completion of the project: (b) the approval by the ENGINEER of all workperformed under. the contract; (c) the acceptance of the work by the ONNER: (d)compliance by the CONTRACTOR with the terms and conditions of paragraph 8 following;and (e) the preparation by the CONTRACTOR and approval of the ENGINEER of a finalestimate of the cost of the completed work. Final p~ent to the CONTRACTOR shallequal the approved final estimate of cost less the aggragate of all previous p~entsto the CONTRACTOR and less any liquidated damages assessed in accordance with theterms of this contract.8. Upon he complation by the OONTRACTOR of all work covered by the Contract and priorto final payment to the CONTRACTOR for the work performed, the CONTRACTOR shall deliver to theOi-mER releases of all liens and ot.~ rights to claim any liens, in a form satisfactory to theOWNER, from all 'material supplies and sub-contractors f'urnishing labor and material for thepronect and an affidavit, in a form satisfactory to the OWNER, to the effect that all labor usedon or for the construction of the project has been paid.9. Neither the inspection of the ENGINEER or OWNER or any of their employees, nor anydecision, interpration, order, measurements, or certificate by the ENGINEER or OWNER, nor anyorder by the OWNER for payment of money, nor any payment for, or acceptance of the whole or anypart of the work by the ENGINEER or armER, nor any extension of time, nor any possessions takenb,y the OWNER, or its employees, shall operate as a waiver of any provision of this Contract,or of any power herein reserved to the OWNER, or any right to damages herein provided nor shallany waiver of anyCC-2breach of this Contract be held to be a waiver of any subsequent breach. Any remedy provided inthis Contract shall be taken and construed as cumulative; that is, in addition to each and everyother remedy herein provided, and in addition to all other suits, actions, or legal proceedings,the OWNER shall also be entitled as of rights to writ of injunction against any breach of anyof the proviSions of the Contract.IN WITNESS WHEREOF, the parties hereto have caused these presents to be executed and havehereto set .their hands on the day and year first above written.'tiIlITNESS:CITY OF OXFORD, MISSI~IPPIOWNER