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ARTICLE 2 ENGINEER <br /> 2 . 1 . The project has been designed by Kimley-Horn and Associates , Inc . hereinafter called <br /> ENGINEER , and who is to act as OWNER'S representative , assume all duties and responsibilities <br /> and have the rights and authority assigned to ENGINEER in the Contract Documents in connection <br /> with completion of the work in accordance with the Contract Documents. <br /> ARTICLE 3 CONTRACT TIME <br /> 3 . 1 . The CONTRACTOR shall be substantially completed with the following timeframe : <br /> The CONTRACTOR shall be substantially completed with the work Ninety (90 ) calendar <br /> days after issuance of the Notice to Proceed , in accordance with Paragraph 2 . 03 of the <br /> General Conditions , and be completed and ready for final payment in accordance with <br /> Paragraph 14 . 07 of the General Conditions within One Hundred and Twenty ( 120 ) <br /> calendar days after the issuance of the Notice to Proceed . <br /> 3 . 2 Liquidated Damages . OWNER and CONTRACTOR recognize that time is of the <br /> essence of this Agreement and that OWNER will suffer financial loss if the work is not completed <br /> within the times specified in Paragraph 3 . 1 above , plus any extensions thereof allowed in accordance <br /> with Article 12 of the General Conditions . They also recognize the delays , expense and difficulties <br /> involved in proving in a legal proceeding the actual loss suffered by OWNER if the work <br /> is not <br /> completed on time . Accordingly, instead of requiring any such proof, OWNER and CONTRACTOR <br /> agree that as liquidated damages for delay (but not as a penalty) CONTRACTOR shall pay OWNER <br /> Four Hundred and Fifty ($450 .00) for each day that expires after the time specified in Paragraph <br /> 3 . 1 for Substantial Completion , if CONTRACTOR shall neglect, refuse or fail to complete the <br /> remaining work within the Contract Time or any proper extension thereof granted by OWNER, <br /> CONTRACTOR shall pay OWNER Four Hundred and Fifty ($450 .00) for each day that expires <br /> after the time specified in Paragraph 3 . 1 for completion and readiness for final payment. <br /> ARTICLE 4 CONTRACT PRICE <br /> 4 . 1 . OWNER shall pay CONTRACTOR for completion of the work in accordance with the <br /> Contract Documents in current funds in the amount of $ 1 , 164 ,853 .40 <br /> ARTICLE 5 PAYMENT PROCEDURES <br /> 5 . 1 . General . CONTRACTOR shall submit Applications for Payment in accordance with <br /> Article 14 of the General Conditions . Applications for Payment will be processed by ENGINEER as <br /> provided in the General Conditions and the Contract Documents . <br /> 5 . 2 . Progress Payments . The OWNER shall make progress payments to the <br /> CONTRACTOR on the basis of the approved partial payment request as recommended by <br /> ENGINEER in accordance with the provisions of the Local Government Prompt Payment Act , Florida <br /> Statutes section 218 .70 et. seq . The OWNER shall retain ten percent ( 10% ) of the payment amounts <br /> due to the CONTRACTOR until fifty percent (50% ) completion of the work . After fifty percent (50% ) <br /> completion of the work is attained as certified to OWNER by ENGINEER in writing , OWNER shall <br /> retain five percent (5% ) of the payment amount due to CONTRACTOR until final completion and <br /> 00530-2 <br />