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acceptable standards, work deemed to be below standards will be rebid and deducted from final payment. This action can prevent the contractor from bidding on any further work or projects. Substantial completion of the rehab is determined when the job wnte-up is 100% completed. If the rehab is not substantially completed by the due date, the contrac#or can not submit a bid for new projects. Upon substantial compietion, the contractor has seven (7) days to complete the punch list items and fourteen (14) days to submit Final Release af Liens from the contractors, sub-contractors, the notice to owner and afl construction required documen#s. 1f the contrac#or daes not meet the fourtsen (14) days for the Lien Release, he will not be able to bid on any new projects until final �aperwork has been submitted. The premises will be unoccupied during the course of construction. ARTICLE 3. - TIME OF COMMENCENlENT: No work shall be commenced by the Cont�actor until he/she has received a written Notice to Proceed from the Community Development Division. The Notice to Proceed will be issued within thirty (30) days fram the date of the Contractor signing this Contract, or if it is not, the Contractor has the option of withdrawing his bid and proposal. Wark shall begin no later than seven {7) days after the Notice #o Proceed is issued. If work is not substantially completed wi#hin agreed upon time period, Contractor will be penalized One Hundred and 00/900 Dollars ($1 Q0.00) per day liquidated damages on new canstruction and Fifty and 00/100 Dollars ($50.00) per day liquidated damages on rehabilitation projects for every working day until substantial completion, unless approval for extension has been agreed upon ir� writing by Owner, Contractor, and the Community Developmenf Divisiort. This provision is contingent upon strikes, accidents, Acts of God, or other events beyond the control of Pasco County and the Contractor. ARTICLE 4. - PAYMENT: The Cc�ntractor will be paid according to the draw schedule as stated in the Program Policy Statement for the County's rehabilitation program afte�the Communi#y Development Division conducts an inspection certifying that the work has been completed according to the contract. Final payment due the Contractor will be made after the Contractor has furnished the Owner, in care of the Community Development Division, safis#actory release of liens or claims for liens by subcontractors, laborers, and material suppliers for completed work ar installed materials. AI! such releases must be notarized. Payments will be made in accordance with Florida Statutes, Chapter 218.735-74, Loca( Government Prompt Payment Act considered due upon receipt by the Clerk of the Circuit Court and paid upon approval by the 8oard of County Commissioners. Within thirty (30) days of completion of the cont�act, the contractor shall submit the request for final payment along with the required documentation for payment. The County shaU not be responsibie for any requests after the 30 days. ARTICLE 5. -CONTRACTOR'S INSURANCE: The Contractor shall be responsible for all damages to person or praperry #hat occur on the job site or adjacent the�eto as a result of his fau(t or neg(igence in connection with this cantract. The Contractor shall, prior to commencing work, fumish evidence of required comprehensive liabifity insurance. The Contractor shall also furnish evidence of coverage in accordance with Florida Workers' Compensation Laws. Cor�tractor shall furnish Community Development Division with new, updated or renewec! insuraRCe coverage to continue to bid on projects. ARTlCI.� 6. - SUBCONTRACTS: All subcontractors shall be bound by the terms and conditions of this contract insofar as it applies to their woric, but this shall not relieve the Contractor from fhe responsibility to the Owner for the proper completion of al! work to be executed under this Contract, and he/she shalf not be released from this responsibility by any subcontractual agreemertt he may make with others. The Contractor shall be required to furnish to the Owner and Community Development Division in writing, a list of the names of the subcontractors proposed for the principal portions of the work at this contract signing. The Corrtractor shall not employ any subcontractor #o whom the Owner or the Community Development Division may have a reasonable objection. A current form for listing subcontractors is available on the Community Deve[opment Division website. The notice to proceed will not be issued until the required sub list has been completed for this contract and submitted to the Community Development Division. S/Communi#y Development/Housing Forms Revised 04/27/11 - 2 -