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acceptable standards, work deemed to be below standards will be rebid and deducted from ftnal payment. This action can prevent the contractor from bidding on any further work or p�o3ects. Substarrtial completion of the rehab is determined when the job write-up is 100% completed. If the rehab is no# subs#antia(ly compfeted by the due date, the contractor can not submit a bid for new projects. Upon substantial comple#ion, the contractor has seven {7) days to complete the punch list items and fourteen (14) days to submit Final Release of Liens from the contractors, sub-contractors, the notice to owner and afl constructian required documents. If the contractor does not meet the fourteen (14} days for the Lien Release, he will not be able to bid on any new projects until frnal paperwork has been submitted. The premises will be unoccupied during the course of construction. ARTICLE 3, - TIME OF COMMENCEMENT: Na work shall be commenced by the Contractor until he/she has received a written Notice to Proceed from the Community Development Division. The Notice to Proceed wi(I be issued within thirty(30) days fram the date of the Contraotor signing this Contract, or if it is not, the Contractor has the option of withdrawing his bid and proposal. Work shall begin no later than seven (7) days after the Notice to Proceed is issued. If work is not substantially completed within agreed upon time period, Contractor wil! be penalized One Hundred and 00/100 Dollars {$100.00) per day liquidated damages on new construction and Fifty and 00/100 Doliars ($50.00) per day liquidated damages on rehabilitatian projects for every working day until substantial completion, unless approval for extension has been agreed upon in writing by Owner, Contractor, and the Community Development Division. This provision is contingent upon strikes, accidents, Acts of God, or other events beyond the control of Pasco Counry and the Contractor. ARTICLE 4. - PAYMENT: The Contractor w�ll be paid according to the draw scheduie as s#ated in the Program Policy Statement for the Coun#y's rehabilitation program after the Community Development Divlsion conducts an ins�ection certifying that the work has been completed according to the contract. Final payment due the Contractor will be made after the Corrtractor has fumished the Owner, in care af the Community Development Division, satisfactory release af liens or claims for liens by subcontractors, iaborers, and material suppiiers for completed work or installed materials. All such releases must be notarized. Payments wil! be made in accordance with Fiorida Sfatutes, Chapter 218.735-74, Local Govemment Prompt Payment Act considered due upon recsipt by fhe Cierk of the Circuit Court and paid upon approval by the Board �f County Commissioners. Within thirty (30) days of completion of the contract, the contractor shal( submit the request for final payment alang with the required docurnentation for payment. The County shall not be responsible for any requests after the 30 days. ARTICLE 5. -CONTRACTOR'S 1NSURANCE: The Contractor shall be responsibfe for all damages to person or property that occu� on the job site or adjacent thereto as a result of his fauff or negligence in connection with this cont�act. The Contra�tor shall, prior to commencing work, furnish evidence of required cornprehensive liability insurance. The Contractor shall also fumish evidence of coverage in accordance with Florida Workers' Compensation Laws. Contractor shall fumish Community Development Division with new, updafed or renewed insuranc:e coverage to continue to bid on projects. ARTICLE 6. - SUBCONTRACTS: All subcontractors shall be baund by the terms and conditions of this con#ract insofar as it appiies to their work, but this shall not relieve the Contractor from the responsibility ta the �wner for the proper completion of all work to be executed under this Contract, and he/she shall not be released from this responsibility by any subcontractual agreement he may make with others. The Contractor shall be required to furnish to the Owner and Community Development Divisian in writing, a list of#he names of the subcontractors proposed for the principal portions of the work at this contract signing. The Contractor shall not employ any subcontractor to whom the Owner or the Community Development Division may have a reasonable objection. A current form for listing subcontractors is available on the Community Development 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 Divis'son. S/Community bevelopment/Wousing Forms Revised 04/27/t 1 - 2 -