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to this Agreement. The parties also recognize the delays, expense, and difficulties involved in proving in a k*oa| proceeding the actual loss suffered by OWNER if the VVnMk is not oonnp|ateU on time. Accordingly, instead of requiring any such proof. OWNER and CONTRACTOR agree that as liquidated damages for de/@y (but not as g pnna|ty). CONTRACTOR shall pay OWNER $450.00 for each calendar day that expires after the time specified in paragraph 3.01 for completion and readiness for final payment until the Work is completed and ready for final payment. ARTICLE 4 - CONTRACT PRICE 4.01 OWNER shall pay CONTRACTOR for completion of the Work an amount in current funds equal to the ounn of the amounts determined pursuant to paragraph 4.01.A and summarized in paragraph 4.01.13, below: A. For all Work, at the prices stated in sBid, attached hereto asanexhibit. B. THE CONTRACT 8UKX subject to additions and deductions provided in the Contract Numerical Amount: $154,319.50 Written Amount: one hundred fifty four thousand three hundred nineteen dollars and fifty cents ARTICLE 5 - COMPENSATION CONTRACTOR shall submit Applications for Payment on a monthly basis. Applications for Payment will be processed by ENGINEER as provided in the Contract Documents. 5.1 Progress Payments, The OWNER shall make progress payments to the CONTRACTOR on the basis of the approved partial payment request as recommended by ENGINEER in accordance with the provisions of the Local Government Prompt Payment Aot, Florida Statutes section 218.70 ET. seq. The OWNER shall retain ten percent (101/6) of the payment amounts due to the CONTRACTOR until fifty percent (50Y6) C0rnp|eUon of the work. After fifty percent (5UY6)completion ofthe work isattained as certified tnOWNER byENGINEER in wTdinQ. OWNER shall retain five percent (5%) Of the payment amount due to CONTRACTOR until final completion and 8000p(anoe of all work to he performed by CONTRACTOR under the Contract Documents. Pursuant to Florida Statutes section 218735(8) (b), fifty percent (50%) completion means the point at which the County as OWNER has expended fifty percent (50%) of the total cost of the construction services work purchased under the Contract Doounnmnto, together with all costs associated with existing change orders and other additions or modifications to the construction services work provided under the Contract Documents. 5.2 Pay Requests. Each request for a progress payment shall be submitted on the application for payment form supplied bvOWNER and the application for payment shall contain the CONTRACTOR's certification. All progress payments will be on the basis of progress of the work measured by the schedule of values established, or in the case of unit price work based on the number ofunits completed. After fifty percent /50%\ oonnp|eUon, and pursuant to Section 00530-3