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?age #4 <br />Ord. 3839 <br /> <br />(5.6~) percent of <br /> <br />the cost of construction. <br /> <br />ARTICLE III: It is further mutually agreed by the parties hereto: <br /> <br /> 1. That the cost u~d as a basis for computation of <br /> payments means the cost to the City of the entire <br /> construction, including all materials, labor and use <br /> of equipment and without deductions on account of <br /> penalties, liquidated damages or other amotmts with- <br /> held from pa~w~nents to Contractors, provided, however, <br /> that in computing the cost of construction of the <br /> improvement there shall be excluded therefrom all cost <br /> of land, rights of way, legal services, printing, <br /> advertising, compensation for damages to property and <br /> all coat of engineering and inspection; <br /> 2, The payment Under Article II ~abOve Shall be <br /> due and pa~able within sixty (60) days after receipt <br /> of bids and shall be based on the accepted bids. <br /> However, in the event of failure for any reason to <br /> let contracts within ninety (90) days after the <br /> presentation of plans and specifications to and <br /> approval by the City and said Department of Health <br /> of Ohio, the City sha~l pay to the E~gineers a sum <br /> equal to three and six-tenths per cent (3.6%) of the <br /> estimated c~st of construction, to-wit $1,491,400.00 <br /> or of the total of lo~est bids rleceived, whicheVer is <br /> the lower, which payment shall be in full of all <br /> obligations of the City to the Engineers under this <br /> agreement, until and hnless the'City proceeds with the <br /> construction 0f the improvement and the Engineers <br /> render general supervision thereof, as provided in <br /> this agreement. <br /> 3. In the event the Contractor delays said work be- <br /> yond the time specified for completion, and the Engineers <br /> are thereby put to additional engineering expense of <br /> resident engi~e~r and znspectors~ payrolls, the City <br /> will pay these engineering and inspection costs to the <br /> Engineers and will re-imburs8 itself from the liquidated <br /> damages as assessed against the Contractor; <br /> <br /> 4. The contract or contracts with the construction <br /> company or companies shall provide For the completion <br /> of the work indicated therein, within the specified <br /> length of time, and in the event the said contractor <br /> delays said work beyond said completion time, he shall <br /> pay to the City as liquidated damages the sum set forth <br /> in the contract for each day the completion of the said <br /> work is delayed; <br /> <br /> 5. That this agreement is predicated and conditioned <br /> upon the City providing for the financing of said improve- <br /> ment by the issuance of bonds or otherwise; that the <br /> Engzneers shall not gO forward so as to obligate the <br /> City hereunder Until and unless said ffinancing is <br /> orovided by the issuance o£ bonds or othe~vise, nor <br /> ~ntil the Director of Public Works notifies the Engineers <br /> in writing to proceed hereunder, whereupon said <br /> Engineers shall proceed immediately and with diligence <br /> ~o perform the services herein on their part to be <br /> performed; <br /> 6. In the event of any delay in carrying forward the <br /> improvements contemplated by this agreement whether such <br /> delay be caused by the City or other agency excepting <br /> delays by contractors as provided in Article III 4 the <br /> Engineers hereby agree that they will not assert any olaf <br /> <br /> <br />