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Home My WebLink About1998-087 Contract - LTM CITY OF ASHLAND CONTRACT FOR PUBLIC WORKS CONSTRUCTION Contract made this Z z~ day of and LTM, Inc. ("Contractor"). ,1998, between the City of Ashland, ("City") City and Contractor agree: Contract Documents: This contract is made as a result of an Advertisement for Bid issued by City for the Sherman Street Reconstruction & Taylor Street Overlay No. 97-24. Contractor was awarded the bid as the lowest responsible bidder. In the event of any inconsistencies in the terms of this contract, the contract documents defined in the Advertisement for Bid and Contractor's bid, this contract shall take precedence over the contract documents which shall take precedence over the bid. Scope: Contractor shall begin and complete the project described in the contract documents within the time prescribed in the contract documents. The following exceptions, alterations, or modifications to the contract documents are incorporated into this contract: J Price and Payment: City shall pay Contractor amounts earned under the contract. All payments will be made at the times and in the manner provided in the contract documents. Bond: Contractor shall, within five days after execution of the contract and prior to doing any work under the contract, furnish bond to the City of Ashland in a form and with a surety satisfactory to City in the penal sum of $118,949.05*conditioned upon the faithful performance of this contract upon the part of the Contractor. 5. Default: A default shall occur under any of the following circumstances: 5.1 If the Contractor fails to begin the work under contract within the time specified, or fails to perform the work with sufficient workers or equipment or with sufficient materials to insure the prompt completion of the project, or shall neglect or refuse to remove materials or perform anew such work as shall be rejected as defective or unsuitable, or shall discontinue the prosecution of the work. 5.2 If the Contractor shall become insolvent or declared bankrupt, or commit any act of bankruptcy or insolvency, or allow any f'mal judgment to stand against the Contractor unsatisfied for a period of forty-eight (48) hours, or shall make an assigument for the benefit of creditors. 5.3 From any other cause whatsoever, shall not carry on the work in an acceptable manner. 6. Remedies: In addition to the rights and remedies to which the City may be entitled G:Dawn~Engineer\Project~97-24 Bib A~vard Letter LTM.wpd by law for the enforcement of its rights under this contract, City shall have full power and authority, without violating this contract, to take the prosecution of the work from the Contractor, and appropriate or use any or all of the materials and equipment on the ground that may be suitable and acceptable and may cause a contract for the completion of this contract according to its terms and provisions, or use such methods as required for the completion of the contract, in any acceptable manner. All costs and charges incurred by the City together with the costs of completing the work under the contact, shall be deducted from any money due or which shall become due the Contractor. In case the expense so incurred by the City shall be less than the sum which would have been payable under the contract if it had been completed by the Contractor, then the Contractor shall be entitled to receive the difference less any damages for delay to which the City may be entitled. In case such expense shall exceed the sum which would have been payable under the contract, the Contractor and the surety shall be liable and agree to and shall pay the City the amount of the excess with damages for delay of performance, if any. Prevailing Wage Rates: The Contractor shall pay a fee equal to one-tenth of one percent (0.1 percent) of the price of this Contract. The fee shall be paid on or before the first progress payment or 60 days from the date work first begins on the Contract, whichever comes first. The fee is payable to the Bureau of Labor & Industries and shall be mailed or otherwise delivered to the Bureau at the following address: Bureau of Labor and Industries Wage and Hour Division Prevailing Wage Unit 800 N.E. Oregon Street # 32 PORTLAND OR 97232 The Contractor shall fully comply with the provisions of O.R.S. 279.348 through 279.365 pertaining to prevailing wage rates. BY: .~~ Its: BY: Its: Mike Freeman City Administrator REVIEWED AS TO FORM: City Atgorneyt _ Date '7['~! tqbt REVIEf~/~AS TO CONTENT: ~eY~a~m/~)en~Hea~ Datl Coding (for City use only) *Contract for Schedule A (Sherman Street Reconstruction) only. G:Dawn~Engineer\ProjectL97-24 Bib Award Letter LTM.wpd PERFORMANCE & PAYMENT BOND The Undersigned, LTM, Inc. , as principal, further referred to inthisbond asCentfactor and EMPLOYERS INSURANCE OF WAUSAU, as surety, further referred to this · . ' A rqu al ' n bond as Surety, are jointly and severally bound unto ~4it~y o~smh~an~, as obligee, further referred to in this bond as City, in the sum of One Hundred Eighteen Thousand Nine Hundred Forty Nine and 05/100ths Dollars($ 118,949.05 ). Contractor and City have entered into a written contract dated July 17, 1998 , for the following project: Schedule A - Sherman Street Reconstruction This contract is further referred to in this bond as the Contract and is incorporated into this bond by this reference. The conditions of this bond are: If Contractor faithfially performs the Contract within the time prescribed by the Contract, and promptly makes payments to all claimants, as defined in ORS 279.526 through 279.542, then this obligation is null and void; otherwise it shall remain in' full force and effect. If Contractor is declared by City to be in default under the Contract, the Surety shall promptly remedy the default, perform all of Contractor's obligations under the Contract in accordance with its terms and conditions and pay to City all damages that are due under the Contract. 3. This bond is subject to claims under ORS 279.526 through 279.542. This obligation jointly and severally binds Contractor and Surety and their respective heirs, executors, administrators, successors. Surety waives notice of modifications of the Contract or extension of the Contract time. 6. Nonpayment of the bond premium shall not invalidate this bond. (i:DawnXEngir~ma,Proj~'t~$7-24 Bib Award l~ar l.TM-wl~d Bond Number: Bond Agent: Address: Telephone: The bond number and the name, address and telephone number of the agent authorized to receive notices concerning this bond are as follows: 2351 08 049867 .- Sedgwick of Oregon, Inc. 823 Alder Creek Drive, Medford, OR 97506-8900 (541) 773-6658 Signed this day 22rid WITNESS: WITNESS: (Corp~at~ Seal) , of July ,1998 Contractor 3'~, Inc./~-! LegalAddress P.o. Bo~/]1.1.45, Medford, OR 97501 Da~e R. L~n~nge~Or~atC S~et~ and V~ee Pr~8~dont Surety EMPLOYERS INSU~NCE OF WAUSAU ~~ A Mutual Company TiIl~ Attorney-in-Fact 2000 Westwood Drive Legal Address Wausau, WI 54401-7881 ~~ Agent Bib Assaid I.~n'l~ L'l'M.wpd '( I I~00-~,LI~ (00~) 'I'IVD 'NISNf)DSIA~ NI ) ' 1.99 k.qg~q (00~) H'AHA TIO. I. TIVD AO }::IM,~Od SIH,I. dO ONI(I}:IOM Ha A,LIflI'IVA :414.1. DNI(IltVD'AH SNf)I,L,q',41]~) ANV ,'4AVH i]()A ,41 :~4,Lf)N o!lqnd ~JmoN 866I 'Y[ NiSNO2}$1M ~)Iqllfld AIIV. 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RECONSTRUCTION 97-24 CONTRACT DOCUMENTS THE FOLLOWING ITEMS ARE BEING SENT TO YOU: BARBARA - ORIGINAL CONTRACT AND BOND FOR FILING. KARl OLSON - COPY OF CONTRACT AND ORIGINAL REQUISITION. BOB NELSON - ORIGINAL INSURANCE CERTIFICATE AND COPY OF CONTRACT JILL TURNER - COPY OF CONTRACT AND BOND. ENCLOSED / UNDER SEPARATE COVER REMARKS: COPIES TO: PAULA BROWN Department of Public Wor~ Engineering Department By: Jim Olson Title: Assistant City Engine~' G:Dawn\Engineer\ProjectL97-24 NOT of Contract Documents