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SOURCE SELECTION AND CONTRACT FORMATIONS <br />TERMINATION FOR CONVENIENCE <br />All construction contracts for Indian River County shall <br />contain clauses allowing for the termination of the <br />contract for convenience and prescribe methods in which <br />the vendor may cal-culate__cost -of—vgrk already narformed <br />and termination settlement costs. <br />5.7 LIQUIDATED DAMAGES <br />All construction contracts over an amount to be <br />established in each contract, shall require liquidated <br />damages provisions contained therein that provide for an <br />amount reasonable to the project be deducted from <br />payment to the contractor for failure to complete the <br />project within the contract time frame. <br />29 <br />SmeadSoft Reprint Date: Monday, August 12, 2013 - 15:25:23 - OfficialDocuments:674, Attachment Id 0, Page 36 <br />