Common use of COMPLETION ON CONTRACTOR'S DEFAULT Clause in Contracts

COMPLETION ON CONTRACTOR'S DEFAULT. If default shall be made by the Contractor or by any subcontractor in the performance of any of the terms of this Contract, the District, without in any manner limiting its legal and equitable remedies in the circumstances, may serve upon the Contractor and the surety, if any, a written notice requiring the Contractor to cause such default to be corrected forthwith. Unless within twenty (20) days after the service of such notice upon the Contractor and the surety, if any, such default shall be corrected or arrangements for the correction thereof satisfactory to the District shall be made, the District may take over the project and prosecute the same to completion by contract or otherwise for the account and at the expense of the Contractor, and the Contractor shall be liable to the District for any cost or expense in excess of the contract price occasioned thereby. No payment shall be due while the Contractor is in default in respect of any of the provisions of this contract; and the District may withhold from the Contractor the amount of any claim by a third party against either the Contractor or the District, based upon an alleged failure of the Contractor to perform work hereunder in accordance with the provisions of this contract.