Board of Contract Appeals
                    General Services Administration
                         Washington, D.C. 20405
 
 
 
                    ________________________________
 
                        GRANTED: March 10, 2000
                    ________________________________
 
 
                              GSBCA 14359
 
 
                SAXON CONSTRUCTION AND MANAGEMENT CORP.,
 
                                           Appellant,
 
                                   v.
 
                    GENERAL SERVICES ADMINISTRATION,
 
                                           Respondent.
 
        Richard  M.   Preston  of  Seyfarth,  Shaw,   Fairweather  &
   Geraldson, Washington, DC, counsel for Appellant.
 
        Robert  C.  Smith  and  Kevin  J. Rice,  Office  of  General
   Counsel, General Services Administration, Washington, DC  counsel
   for Respondent.
 
   Before Board Judges DANIELS (Chairman), HYATT, and GOODMAN.
 
   GOODMAN, Board Judge.
 
        This  appeal arises from a contract between appellant, Saxon
   Construction  and  Management  Corp.,   and  respondent,  General
   Services  Administration,   for  construction  relating   to  the
   renovation and  alteration of  the Trenton,  New Jersey,  Federal
   Office Building  and  Courthouse.   By  notice  of  appeal  dated
   October  24,  1997, appellant  appealed  a  contracting officer s
   final decision  dated September  18, 1997,  which terminated  the
   contract for default.
 
 
        The parties  have entered  into a  settlement agreement  and
   have  filed  a  motion  for  entry  of  final  consent  judgment,
   requesting  that  judgment  be entered  based  upon  the parties'
   settlement agreement.
 
        Pursuant  to the  parties' stipulated  settlement agreement,
   the termination for  default is to be converted  to a termination
   for convenience, and respondent is  to pay to appellant (by check
   payable  to Fireman's  Fund  Insurance  Company)  the  amount  of
   $500,000, inclusive of all costs, attorney fees and interest.  If
   payment of the  $500,000 is made later than sixty  days after the
   date of  the Board s  decision, however, appellant  will also  be
   entitled to interest on this amount at rates set by the Secretary
   of the Treasury for the  Renegotiation Board (pursuant to Pub. L.
   No. 92-41, 85  Stat. 97 (1971)).  The parties have further agreed
   to  submit  certificates  of  finality  on  the  basis  of   this
   stipulated judgment,  and have set forth mutual releases in their
   settlement agreement.
 
 
        Rule   136(e)  permits  the  Board  to  adopt  the  parties'
   stipulation of settlement, by decision, and it provides that such
   decisions are adjudications of the appeals on their merits.  See,
   e.g.,  PJR Construction  Corp., GSBCA  6062, et  al., 85-1  BCA  
   17,752.
 
                                Decision
 
        This  appeal  is  GRANTED in  accordance  with  the parties'
   stipulated  settlement.  The termination for default is converted
   to  a termination for convenience of the Government and appellant
   is awarded  $500,000, to  be paid  from the permanent  indefinite
   judgment fund, 31  U.S.C.   1304 (Supp.   III 1997), by  check to
   Fireman's Fund Insurance Company.   If payment is not made within
   sixty days of the date  of this decision, interest shall also  be
   paid, in accordance with the terms of the parties' agreement.
 
 
 
                                 ________________________
                                 ALLAN H. GOODMAN
                                 Board Judge
   We concur:
 
 
   _____________________________ __________________________
   STEPHEN M. DANIELS            CATHERINE B. HYATT
   Board Judge                        Board Judge