The daily sentinel., 1907-02-28
THE CONTRACT
IS ACCEPTED

to complete the work within the time
agreed. 1t is understood and agreed
however, that the contractor shall not
be held to forfeiture for such days
when the weather is too inclement To
DO good or successful work. or for
delays on the part of the railroad com
panies occasioned by floods. strikes
blockades or the inability or failure
OF the railroad companies to deliver
the freight within a reasonable leng-
tn OF time after the date of shipment
as evidenced by bill of ladlng.
Payments.
complete estimate shall he issu-
ed by the engineers at the end of each
calendar month for the amount due
the contractor for the material furn-
ished and work done during the said
month; and the contractor shall re-
ceiye eighty per cent $50 per cent? of
the amount of said estimate; (and in
addition thereto the contractor shall
receive on all invoices of material re-
reived and unloaded from the cars
for said work during said month. an
amount not exceeding twenty-five
thousand dollars (S25,OOO. .OO) in any
one month"; The city shall retain
twenty per cent go per cent? of the
amount of said estimates until sixty
(6O) days after the completion of the
work and its acceptance by the engi-
neers, as a protection against liens.
When the contractor has complet-
ed the work to the acceptance of the
engineers, then the Engineers shall
issue the final estimate for the bal
ance due the contractor, including
the retained percentages, and the
contractor shall receive the amount OF
said estimate as full compensation
for all work done and material furn-
ished under this contract
Right of Way.
1t is hereby understood and agreed
that the city will furnish the contrac-
tor full an complete right of way
on the entire pipe line for excavation
of said pipe line. construction of
bridges, trestles and viaducts, and
for the purpose of roads for hauling
material for said pipe line and the
establishment of camps, and for all
purposes for the construction of the
work under this contract
1t is further agreed that the con-
tractor accepts the water bonds of
the city of Grand Junction at par in
lieu of cash as payment on his con-
tract, the contractor agreeing to take
the entire issue of three hundred
thousand dollars $3OO,OOO.OO); said
contractor to pay the city thirty seven
thousand dollars (s37O0O.O0) in
cash, being the difference between
the contract price for said work and 1
the bond issue. upon delivery of the
bonds, or within reasonable length /
of time in which to transmit the mon
ey from Denver to Grand Junction.
The contractor also further agrees 4
that he will pay the city three per
cent G per cent? interest on the full
issue of the bonds from October l,
1906 to their date of delivery. The
contractor also further agrees to pay
three per cent G per cent? interest
per annum on any money arising
from the proceeds of the sale of the
bonds, lying idle in any bank pending
said work, and also agrees to waive
any question of the legality of the
bonds now pending; the moneys to be
disbursed by a committee of three
go trustees, one to be selected by
the city and two by the surety COM
pany signing the contractors bond.
as follows:
John O'Boyle. for the city; Harry
Schiller, of the Metropolitan Surety
company; F. w. STANDARD of the Met
ropolltan Surety company, and that
when the bonds are issued they shall |
be deposited in the United States Ma
tional Bank of Denver, Colorado, to /
be turned over to the said contractor
upon payment therefor and upon the
order of said board of trustees. The
money arising from the sale of the
bonds to be disbursed upon invoices
and pay-rolls signed by the engineers
and the contractor in charge of said
construction work of the Hannah
Creek pipe line. The said contractor
agrees to furnish bond by the Met
ropolitan Surety company to the
amount of $4,000, indemnifying the
said city of Grand Junction against
failure to complete the work in ac-
cordance with the specifications here
with attached.
The contractor further agrees that
he will erect factory in or near
Grand Junction, Colorado far the
manufacture of the wooden pipe US
ed in connection with this work, or
will pay reasonable salary and ex-
penses of any competent person Sc
lected by the city. to be present sup
erintend and examine all the material
and pipe for this work If made at the
home factory.
Contract Binds All Parties.
This contract shall be binding up