Laserfiche WebLink
General Conditions, and completed and ready for final payment in accordance with <br />paragraph 14.07 of the General Conditions on or before the 1501 calendar day after the <br />date when the Contract Times commence to run. <br />B. The Work will be fully completed (Final Completion) and ready for final payment in <br />accordance with paragraph 14.07 of the General Conditions on or before the 150th <br />calendar day after the date when the Contract Times commence to run as provided in <br />paragraph 2.03 of the General Conditions. <br />4.03 Liquidated Damages <br />A. CONTRACTOR and OWNER recognize that time is of the'99s'enceJeXthis Agreement and <br />that OWNER will suffer financial loss if the Work is not torted within the times <br />specified in paragraph 4.02 above, plus any ext ions thereof 6116,'Ed in acoodance with <br />Article 12 of the General Conditions. Liquidated d'ar mages will comme"nce for•fffiportion of <br />work. The parties also recognize the dela xpense nd difficulties MIDI, in proving in <br />a legal proceeding the actual loss sufrcifb'jb)11/Nfif the Work is, completed on <br />%.4' G' �L O':. <br />time. Accordingly,instead of re uingg, an surd proof OWNER,> d CONTRACTOR <br />q , J. Y , tiO.. ,� <br />agree that as liquidated damages for Qefa. (but rmbt as a pealty=ONTRACTOR shall <br />pay OWNER 500.00 for ea'i h calenderray &Pepwork.is <br />t expires the time specified in <br />.. <br />., ., <br />paragraph 4.02 for Substantial C�oiipletion u�ti)'substantially complete. After <br />Substantial Completion, if CONI : `'C:OR sh Iae lett refuse, or fail to complete the <br />. 9 p <br />remaining Work within the Contig' ,,bt Tifn�,.or any "per extension thereof granted by <br />OWNER, CONTRA-TjOht,shall payWN1=R 500.Oor each calendar day that expires <br />w:...:. x <br />after the time spec�fi�:dnaragraph #x,02 fo <, pletion and readiness for final payment <br />until the Work is comp et d a 2t early f8"kfinal pkw, ent. <br />5.01 <br />A. <br />Q <br />Written Amount: <br />or completion of the Work in accordance with the <br />A"current funds equal to the sum of the amounts <br />01.A and summarized in paragraph 5.012, below: <br />stated in CONTRACTOR's Bid, attached hereto as an exhibit. <br />to additions and deductions provided in the Contract:: <br />ARTICLE 6 - PAYMENT PROCEDURES <br />6.01 Submittal and Processing of Payments <br />A. CONTRACTOR shall submit Applications for Payment in accordance with Article 14 <br />of the General Conditions. Applications for Payment will be processed by <br />ENGINEER as provided in the General Conditions and the Contract Documents. <br />@BCL@18059934 <br />00520-3 <br />C:\Users\GRANIC-1\AppData\Local\Temp\BCL Technologies\easyPDF 7\(BCL@18059934\@BCL@18059934.doc <br />P79 <br />