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1) Construction on the first -floor Law Library area must be completed first. Completion shall be measured by the issuance of an Indian River County Building Division Certificate of Occupancy (CO), and the move -in ready condition of the project area. 2) Construction on the second -floor project area may not begin until a CO is issued for the first floor area, and the occupants of the second floor have fully vacated and moved to the new first -floor area. 4.02 Days to Achieve Substantial Completion, Final Completion and Final Payment A. The Work will be substantially completed on or before the 27Oth,calendar day after the date when the Contract Times commence to run as provided/in paragraph 2.03 of the General Conditions, and completed and ready for final<payment !in/accordance with paragraph 14.07 of the General Conditions on or before ther30Ot alendar day after the date when the Contract Times commence to run. 4.03 Liquidated Damages A. CONTRACTOR and OWNER recognize that t me,is of the essence of,this Agreemel t and that OWNER will suffer financial lossiif th"e Work isnot completed within the times specified in paragraph 4.02 above, plus any extensions thereof,allowd in accordance with Article 12 of the General Conditions'Liquidated damages will commence for this portion of work. The parties also recognize'the delays;,expense, and difficulties involved in proving in a legal proceeding the actual loss suffered by/OWNER if the Work is not completed on time. Accordingly, instead of requi\ngw any�such proof, OWNER and CONTRACTOR agree that as liquidated damages for�delay (but not as a penalty), CONTRACTOR shall pay OWNER $1,665:OO'fo� each realenda?\day that expires after the time specified in paragraph 4.02 for Subst ,ntial-Completion untilthe Work is substantially complete. After Substantial Completion if CONTRACTOR shall neglect, refuse, or fail to complete the remaining Work within the\C tract Time or any proper extension thereof granted by OWNER, CONTRACTOR shall pay OWNER $1,665.00 for each calendar day that expires after the time,specified'in,paaragraph>4.02 for completion and readiness for final payment until the Work is completed and,ready for final payment. V \/`� ARTICLEONTRACT PRICE 5.01 OWNER ssl a I 'pay jCONTRACTOR for completion of the Work in accordance with the Corstract-Documentyn amount in current funds equal to the sum of the amounts dete mined pur udnt to paragraph 5.01.A and summarized in paragraph 5.01.B, below: A. For all Work, at -the prices stated in CONTRACTOR's Bid, attached hereto as an exhibit. B. THE CONTRACT SUM subject to additions and deductions provided in the Contract:: Numerical Amount: $ Written Amount: ARTICLE 6 - PAYMENT PROCEDURES 6.01 Submittal and Processing, of Payments @BCL@F80D340042 00520 - 3 C:\Users\IegistaMppData\Local\Temp\BCL Technologies\easyPDF 8\@BCL@F8003400\@BCL@F801)3400.doc