AGREEMENT between BROWARD COUNTY and Cummings ...

Exhibit 2
Page 54 of 379
Terminal 4 Gate Replacement – Western Expansion
intentional wrongful misconduct of CONTRACTOR and persons employed or utilized by
CONTRACTOR in the performance of this Agreement. To the extent considered
necessary by Contract Administrator and County Attorney, any sums due
CONTRACTOR under this agreement may be retained by COUNTY until all of
COUNTY’s claims for indemnification pursuant to this Agreement have been settled or
otherwise resolved, and any amount withheld shall not be subject to payment of interest
by COUNTY. The provisions and obligations of this section shall survive the expiration or
earlier termination of this Agreement.
Mutual Waiver of Consequential Damages: CONTRACTOR and COUNTY expressly
waive claims against each other for consequential damages arising out of or relating to
this Agreement. Provided, however, nothing in this Agreement shall be deemed to
preclude the application of liquidated damages, when applicable, in accordance with the
provisions of this Agreement.
ARTICLE 14 - PERFORMANCE AND PAYMENT BOND AND QUALIFICATIONS OF SURETY
14.1 Within five (5) business days of being notified of the award of this Agreement,
CONTRACTOR shall furnish a Performance Bond and a Payment Bond containing all
the provisions of the Performance Bond and Payment Bond attached hereto as Forms 4
and 5, respectively.
14.1.1 Each Bond shall be in the amount of one hundred percent (100%) of the GMP
guaranteeing to COUNTY the completion and performance of the Work covered
in such Agreement as well as full payment of all suppliers, material providers,
laborers, or Subcontractors employed pursuant to this Project. Each Bond shall
be with a surety company which is qualified pursuant to Section 14.2.
14.1.2 Each Bond shall continue in effect for one (1) year after Final Completion and
acceptance of the Work with liability equal to one hundred percent (100%) of the
Contract sum, or an additional bond shall be conditioned that CONTRACTOR
will, upon notification by COUNTY, correct any defective or faulty work or
materials which appear within one (1) year after Final Completion of the
Agreement.
14.1.3 Pursuant to the requirements of Section 255.05(1)(a), Florida Statutes, as may
be amended from time to time, CONTRACTOR shall ensure that the bond(s)
referenced above shall be recorded in the public records of Broward County and
provide COUNTY with evidence of such recording.
14.1.4 Alternate form of Security: In lieu of a Performance Bond and a Payment Bond,
CONTRACTOR may furnish alternate forms of security which may be in the form
of cash, money order, certified check, cashier’s check. Such alternate forms of
security shall be subject to the approval of COUNTY and for same purpose and
shall be subject to the same conditions as those applicable above and shall be
held by COUNTY for one (1) year after completion and acceptance of the Work.
CM @ Risk Agreement R0787918R1 Page 53 of 85