Renovation of a water / sewer project in Channelview, Texas. Completed plans call for the renovation of a water / sewer project.

Accompany Bids with acceptable Cashier's or Certified Check in the amount of five percent (5%) of the total amount bid, payable without recourse to the District, or a Bid Bond of like amount from an approved surety company, as a guarantee that bidder will enter into a contract. Liquidated Damages. Owner and Contractor recognize that time is of the essence in this Agreement and that Owner will suffer financial loss if the Work is not completed within the time specified in Paragraph 3.1 above, plus any extensions thereof allowed in accordance with Article 12 of the General Conditions. They also recognize the delays, expense and difficulties involved in proving the actual loss suffered by Owner if the Work is not completed on time. Accordingly, instead of requiring any such proof, Owner and Contractor agree that as liquidated damages for delay (not as a penalty) Contractor shall pay Owner Five Hundred ($ 500.00) for each day that expires after the time specified in Paragraph 3.1 for substantial completion until the Work is substantially complete. After Substantial Completion, if Contractor shall neglect, refuse or fail to complete the remaining Work within the time specified in Paragraph 3.1 for completion and readiness for final payment or any proper extension thereof granted by Owner, Contractor shall pay Owner Five Hundred ($ 500.00) for each day that expires after the time specified in Paragraph 3.1 for completion and readiness for final payment