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Contract Agreement - Short Form

THIS AGREEMENT made the day of , in the year Two Thousand and , by and between the acting on behalf of the University of Maine System, duly authorized and empowered by virtue of the laws of the State of Maine, hereinafter called the Owner, and hereinafter called the Contractor. WITNESSETH: That the Owner and the Contractor for the considerations hereinafter named agree as follows: ARTICLE 1. SCOPE OF THE WORK The Contractor shall furnish all of the materials and perform all of the work shown on the drawings and described in the Specifications entitled , prepared by , acting as and in these Contract Documents entitled the Architect and/or Engineer; and shall do everything required by this Agreement, the General Conditions and Special Provisions of the Contract, the Specifications and the Drawings. ARTICLE 2: TIME OF COMPLETION The work to be performed under this Contract shall be substantially completed on or before . ARTICLE 3: THE CONTRACT SUM The Owner shall pay the Contractor for the performance of the Contract, subject to additions and deductions provided by approved change orders in current funds as follows Dollars ($). ARTICLE 4: CONTRACT BOND The Contractor shall furnish the Owner the approved Contract Bonds (as per Article 23 of the Standard General Conditions) in the amount of 100% of the Contract sum. ARTICLE 5: PROGRESS PAYMENTS The Owner shall make payments on account of the contract as provided therein as follows: Each month 95% of the value, based on Contract prices of labor and materials incorporated in the work and of materials suitably stored at the site thereof up to the first day of that month, as certified by the Architect and/or Engineer. The Owner may cause contractor to be paid such portion of the amount retained hereunder as deemed advisable. (See Article 19 of the Standard General Conditions). ARTICLE 6: FINAL PAYMENT Final payment shall be due 60 days after completion and acceptance of the work, provided the contractor has submitted evidence satisfactory to the Owner that all payrolls, material bills and other indebtedness connected with the work has been paid. ARTICLE 7: THE CONTRACT DOCUMENTS The General Conditions of the Contract, Instructions to Bidders, the Proposal, the Special
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Provisions, the Specifications and the Drawings, together with this agreement, form the Contract, and they are as fully a part of the Contract as if hereto attached or herein repeated. The following is an enumeration of the Specifications and drawings. SPECIFICATIONS: ADDENDA: DRAWINGS: The Owner and the Contractor hereby agree to the full performance of the covenants herein. IN WITNESS WHEREOF, the parties hereto have executed this Agreement in triplicate on the day and year first above written.

WITNESS: By: WITNESS: By Chief Financial Officer University of Maine Duly Authorized UNIVERSITY OF MAINE SYSTEM

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