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A. All time limits for Milestones, if any, Substantial Completion, and completion and readiness for final payment as stated in the Contract Documents are of the essence of the Contract. 4.02 Days to Achieve Substantial Completion, Final Completion and Final Payment A. The Work will be substantially completed on or before the 690th 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 the 720th calendar day after the date when the Contract Times commence to run. /\ 4.03 Liquidated Damages A. CONTRACTOR and OWNER recognize that tim&is of the essence of this"Agreement and that OWNER will suffer financial loss -if the Work is not completed within/the times specified in paragraph 4.02 above, pilus any extensions thereof allowed in/accordance with Article 12 of the General Conditioris. Liquidated damages v ll,\ommence for this portion of work. The parties also�recognizeNithe delay`\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 requiring any such proof, OWNER and CONTRACTOR agree that as liquidated damages for delay (but not as a penalty), CONTRACTOR shall7payOWNER� 4'698.00 for each calendar day that expires after the time -specified in` pa%ragraph 4.62�for Substantial Completion. until the Work is substantially -complete. After Substantial Completion, if CONTRACTOR shall neglect, refuse, or fail to complete the remaining,Work within the Contract Time or any proper extension thereof g anted -bye OWNER, CONTRACTOR shall pay OWNER $4,698.00, for each calendar day that expires after the time specified in paragraph 4.02 for completion -and-readiness for final payment until the Work is completed and, ready for final payment. nGLE'6 - CONT `CTSP.RICE�� 5.01 `OWNER-shall_payCONTRACTOR for completion of the Work in accordance with the Contract_Documents, an amount in current funds equal to the sum of the amounts determined pursuant 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: 193