EXHIBIT 10.68
AGREEMENT
THIS AGREEMENT is made and entered into as of the _____________ day of JULY
21, 1997 by and between SALT LAKE CITY CORPORATION, a municipal corporation of
the State of Utah, (hereinafter "City") and Meadow Valley Contractors, Inc.,
hereinafter "Contractor", whose address is 0000 Xxxxx Xxxxxxxxx Xxxx Xxxxx X
Xxxxxx, Xxxx 00000;
WITNESSETH:
The Contractor and the City, for the consideration hereinafter named, agree
as follows:
1. SCOPE OF WORK.
A. Contractor agrees to furnish all labor, materials and equipment
necessary to perform all of the Work required in the Contract
Documents for the Project titled Taxiway G Extension - North End, No.
54 1077 0276.
2. TIME OF COMPLETION.
A. The Work under this Agreement shall commence following issuance of the
Notice to Proceed and shall be completed within the time allowed
indicated on Page B-3 of the Contractor's Bid.
3. CONSIDERATION.
A. The City shall pay the Contractor for the performance of all
obligations set forth herein the sum of Eight Million Nine Hundred
Ninety-Nine Thousand Five Hundred Three Dollars. ($8,999,503.00);
subject to the provisions of paragraph 3C below and Article 9 of this
Agreement.
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B. The Schedules of Prices hereunder are pursuant to Contractor's Bid
dated June 11, 1997.
C. The City agrees to pay and the Contractor agrees to accept for full
performance of this Agreement, the lump sum agreed upon, or a sum
which is based upon the actual quantities used or constructed in
accordance with the Contract Documents or a combination thereof. All
measurements will be performed by the City's Engineer or his
authorized representative. The sum also includes the cost of all
bonds, insurance, permits and fees required herein and all charges,
expenses or assessments of whatever kind or character. Claims for
services allegedly furnished by Contractor but not specifically
provided for herein shall not be honored by the City.
4. LIQUIDATED DAMAGES.
A. Time is the essence of this Agreement. In view of the difficulty of
determining the City's damages caused by late completion the parties
hereby agree, fix and determine that the Contractor shall be
responsible to pay the City liquidated compensatory damages in such
amounts and upon such terms as are specified below.
B. Contractor agrees that the payment of liquidated damages shall
commence on the calendar day after the date fixed for completion
including any extensions of additional time which may have been
allowed in writing. From and after said date, the City shall be
entitled to deduct and retain said liquidated damages out of any
monies which may be due or become due to the Contractor, and the City
may require the Contractor to pay the City liquidated damages for each
calendar day after said date until the City accepts the project as
substantially complete.
C. Liquidated damages shall be in the amount specified on page B-3 of the
Contractor's bid.
D. After the City has accepted substantial completion, liquidated damages
shall not accrue while the City makes
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damages from such a disturbance. The parties agree that Contractor will pay
as liquidated damages for each such disturbance the sum of $1,000 to cover
such damage and expense, which sum may be deducted from the Contractor's
compensation.
28. CONTROLLING LAW.
A. The interpretation of this Agreement shall be governed by the laws of
the State of Utah. Any court action arising from this Agreement shall
be brought in a federal or state court with appropriate jurisdiction
in the City of Salt Lake, State of Utah.
29. ASSIGNMENT.
A. This Agreement or any benefit, obligation or part thereof cannot
be assigned by either party without the prior written consent of the
other.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the day
and year first above written.
SALT LAKE CITY CORPORATION
By /s/ Xxxxxxx Xxxxxx
-------------------------------------
EXECUTIVE DIRECTOR -
SALT LAKE CITY AIRPORT AUTHORITY
ATTEST:
/s/ Xxxxxxxxx Xxxxxx
--------------------------
CHIEF DEPUTY CITY RECORDER
/s/ Xxxxxxx X. Xxxxxx (Seal)
[ SEAL ] --------------------------------
VICE PRESIDENT
MEADOW VALLEY CONTRACTORS, INC. (Seal)
--------------------------------
CONTRACTOR
________________________________ (Seal)
X-00
XXXX XXXXXXXXXXXXXX
-------------------
XXXXX XX XXXX )
:
COUNTY OF SALT LAKE )
On the 21 day of July, 1997, personally appeared before me XXXXXXX
X. XXXXXX and XXXXXXXXX XXXXXX, who being by me duly sworn, did say that they
are the EXECUTIVE DIRECTOR - SALT LAKE CITY AIRPORT AUTHORITY and CHIEF DEPUTY
CITY RECORDER, respectively, of SALT LAKE CITY CORPORATION, and said persons
acknowledged to me that said corporation executed the same.
/s/ Xxxxx X. Xxxxxxxx
---------------------------------------
NOTARY PUBLIC, residing in
SALT LAKE COUNTY
-----------------
My Commission Expires: [SEAL]
_________________________
CORPORATION ACKNOWLEDGMENT
--------------------------
STATE OF UTAH )
:
COUNTY OF SALT LAKE)
On the 30 day of June, 1997, personally appeared before me XXXXXXX X.
XXXXXX, who being by me duly sworn did say that he is the VICE PRESIDENT of
MEADOW VALLEY CONTRACTORS, INC., a corporation, and that the foregoing
instrument was signed in behalf of said corporation by authority of a resolution
(or bylaws) of its Board of Directors; and said persons acknowledged to me that
said corporation executed the same.
/s/ Xxxx Xxxxxxxx Layton, Utah
-------------------------- ---------------------------------
XXXX XXXXXXXX NOTARY PUBLIC, residing in
___________________
My Commission Expires:
July 24, 2000 [SEAL]
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