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[EXHIBIT 10.11]
CONTRACT
THIS AGREEMENT, entered into this 2nd day of October, 1997, by and between
Xxxxxx Creek Irrigation Company, hereinafter called the "Water Company", First
Party, and X. X. Xxxxx and Company Hereinafter called the Construction
Contractor, Second Party,
WITNESSETH: That for and in consideration of payments hereinafter
mentioned to be made by the Water Company, the Construction Contractor agrees to
furnish all labor and equipment: to furnish and deliver all materials not
specifically mentioned as being furnished by the Water Company, and to perform
all work in construction of a water conservation project in Xxxxx County, Utah,
described or known as Xxxxxx Dam Reconstruction for the approximate sum of One
million. One hundred fourteen thousand, Seven hundred Sixty-eight Dollars
($1,114,768.00).
The Construction Contractor further covenants and agrees that all of
said work and labor shall be performed in the most workmanlike manner and in
strict conformity with the plans and specifications. The said plans and
technical specifications, notice and information to bidders, invitation to bid,
bid proposal, bid schedule, general conditions, special conditions, and contract
bond are hereby made a part of this agreement as fully and to the same effect as
if the same had been set forth at length.
The Construction Contractor shall commence work on or before the 6th day
of October. 1997; shall pursue the work with diligence, and shall complete it on
or before the 30 day of June, 1998. Reservoir filling shall commence by April
30, 1998.
Time shall be considered the essence of this contract and if the
Contractor, without fault of the Water Company, shall have failed to complete
the said performance as required under this Contract by the time above set
forth, the Construction Contractor shall forfeit as liquidated damages to the
Water Company the sum of Five Hundred Dollars ($ 500.00) per day for each and
every calendar day that said performance shall remain incomplete.
The Water Company shall pay to the Construction Contractor for the
performance of work in accordance with the unit prices and lump sums bid on the
bid schedule, a copy of which is hereby attached and made a part hereto.
Payments shall be made in accordance with Section 14, PAYMENTS TO CONTRACTOR AND
COMPLETION, of the General Conditions of the contract. Final payment, including
the retainage withheld on partial payments shall be made within 30 days after
final approval of work and after Conditions of the specifications have been
satisfied, or as follows:
IN WITNESS WHEREOF, the Parties have subscribed their names through their proper
officers thereunto duly authorized as of the day and year first above written.
Xxxxxx Creek Irrigation Company
X. X. Xxxxx and Company
