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CITY OF SANTA ANA CONSTRUCTION CONTRACT Project: No. 14 -6801: McFadden Avenue from Newhope Street to Harbor Boulevard Project No. 14.6804; Civic Center Drive from Main to Spurgeon Street Project No, 14• 6811. Memory Lane from Main Street to North City Limit 3. CITY agrees to pay and CONTRACTOR agrees to accept in full payment to complete the PROJECT the sum total amount not to exceed $1,476,874.00, as set forth and identified in the BID PROPOSAL, which is attached hereto and incorporated herein as Exhibit "A ". 'rho BID PROPOSAL contains a schedule of unit price(s) or lump sum(s) based on approximate quantities only, and the City does not expressly or by implication agree that the actual amount of work will correspond therewith, but reserves the right to increase or decrease the amount of any class or portion of the work or to omit portions of the work as may be deemed necessary or advisable. 4. CONTRACTOR agrees to complete the PROJECT within the time specified in the Time for Completion of Improvements section of the BID PROPOSAL (Exhibit `A ") including commencing construction within the timeframe the=rein specified after issuance of a Notice to Proceed. 5. The CONTRACTOR will pay, and will require all subcontractors to pay, all employees on the PROJECT a salary or wage at least equal to the prevailing salary or wage established for such work as set forth in the wage determinations for this work in accordance with applicable State and federal law. 6. CONTRACTOR shall, after award of this Contract, furnish two bonds to be approved by the CITY, one in the amount of One Hundred Percent (100 %) of the Contract price, to guarantee the faithful performance of Cite work (Performance Bond), and one in the amount of One Hundred Percent (100 %) of the Contract price to guarantee payment of all claims for labor and materials furnished (Payment Bond). This Contract shall not become effective until such bonds are supplied to and approved, by the CITY. CONTRACTOR shall, prior to the release of the performance and payment bonds or the retention payment, furnish a warranty performance and payment bond equal to at least ten (10 %) percent of the final Contract price or $1,000, whichever is greater ( Warranty Bond), 7. CONTRACTOR shall, upon project completion as a condition of project ao0eptanro, finnish a Warranty Payment and Performance bond to be approved by the CITY, in the amount of Twenty -five Percent (25 %) of the Contract price, to warrant the wort, done under said Contract Agreement against material or quality defects for a period of one year after acceptance by the AGENCY. x. CONTRACTOR shall, after award of this Contract, furnish Certificates of Liability Insurance and Worker's Compensation Insurance as outlined in the General Provisions, to be approved by the CITY. n Page 2 of 3 23B -10