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IF I <br /> If 11h IF If <br /> II IF IFF, f, FfF2;FIII <br /> IF I IF <br /> Conditions , and completed and ready for final payment in accordance with paragraph <br /> 14 . 07 of the General Conditions on or before the 360th day after the date when <br /> the <br /> Contract Times commence to run . <br /> B . Utility relocations will be necessary for this project . Once the clearing and grubbing is <br /> complete and the roadway is deemed ready for utility relocations by the Engineer , the <br /> utility companies ( FPL , ATT , Comcast , Etc . ) will be given a utility window , not to exceed <br /> 90 days , to complete all relocations . Since the utility companies will be given <br /> precedence of the right-of-way to complete their work , the Contractor may continue <br /> working , as long as it does not hinder the utility relocation work . Additional time will be <br /> added to the contract time due to the utility window if deemed necessary by the <br /> Engineer. <br /> 4 . 03 Liquidated Damages <br /> A . CONTRACTOR and OWNER recognize that time is of the essence of this Agreement and <br /> that OWNER will suffer financial loss if the Work is not completed within the times <br /> r ' specified in paragraph 4 . 02 above , plus any extensions thereof allowed in accordance with <br /> Article 12 of the General Conditions . Liquidated damages will commence for this portion of <br /> work . The parties also recognize the delays , expense , and difficulties involved in proving in <br /> a legal proceeding the actual loss suffered by OWNER if the Work is not completed on <br /> 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 <br /> pay OWNER $ 2 , 514. 00 for each calendar day that expires after the time specified in <br /> paragraph 4 . 02 for Substantial Completion until the Work is substantially complete . After <br /> 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 <br /> OWNER , CONTRACTOR shall pay OWNER $ 2 , 514. 00 for each calendar day that expires <br /> after the time specified in paragraph 4 . 02 for completion and readiness for final payment <br /> until the Work is completed and ready for final payment . <br /> ARTICLE 5 - CONTRACT PRICE <br /> 5 . 01 OWNER shall pay CONTRACTOR for completion of the Work in accordance with the <br /> Contract Documents , an amount in current funds equal to the sum of the amounts <br /> determined pursuant to paragraph 5 . 01 . A and summarized in paragraph 5 . 01 . 8 , below : <br /> A . For all Work , at the prices stated in CONTRACTOR ' s Bid , attached hereto as an exhibit . <br /> B . THE CONTRACT SUM subject to additions and deductions provided in the Contract : : <br /> Numerical Amount : $ � , � 8I ocv <br /> Written Amount : sev ,, . M : to ,er,._ moo., v- 1�\vv kN�eA N . vv -e .y ;1�: ,2� <br /> tnQVSCA ,rVX � N ; v�tey -fie � olt �� 5 ! toOS <br /> ARTICLE 6 - PAYMENT PROCEDURES <br /> 6 . 01 Submittal and Processing of Payments <br /> 00520 - Agreement ( Public Works) REV 04-07 (2 ) <br /> 00520 - 3 <br /> C :\Documents and Settings\mmclaughlin\Local Settings\Temporary Internet Files\Content. Outlook\24026LX8\00520 - Agreement (Public Works) REV 04-07 (2).doc <br /> IF <br /> rI <br /> IF <br /> IF IF IF <br /> . IF <br />