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A. The Work will be substantially completed on or before the main part of sea turtle nesting <br />season begins in the County on April 30th, 2022 as provided in paragraph 2.03 of the <br />General Conditions, and completed and ready for final payment in accordance with <br />paragraph 14.07 of the General Conditions on or before the date when the Contract Times <br />commence to run. Substantial completion is defined as completion of the heavy equipment <br />portion of the project on the beach, meaning sand hauling processing, testing, compaction, <br />placement and grading. Heavy equipment work will not be allowed on the beach after April <br />30th, but dune vegetation planting will be allowed (please refer to FDEP permit and <br />CONTRACT Technical Specifications for permit allowed working dates). Heavy equipment <br />work not completed by April 30, 2022 will need to cease and all equipment removed from <br />the beach and CONTRACTOR will not be allowed to perform Beach Nourishment activities <br />again until after the sea turtle nesting season ends on October 31, 2022. <br />************************************************************************************************************ <br />4.03 Liquidated Damages <br />A. CONTRACTOR and OWNER recognize that time is of the essence of this Agreement and <br />that OWNER will suffer financial loss if the Work is not completed within the times specified <br />in paragraph 4.02 above, plus any extensions thereof allowed in accordance with Article 12 <br />of the General Conditions. Liquidated damages will commence for this portion of work on <br />November 1, 2022, which excludes the time CONTRATOR is not allowed to work based on <br />sea turtle nesting season as identified in FDEP Permit. The parties also recognize the <br />delays, expense, and difficulties involved in proving in a legal proceeding the actual loss <br />suffered by OWNER if the Work is not completed on time. Accordingly, instead of requiring <br />any such proof, OWNER and CONTRACTOR agree that as liquidated damages for delay <br />(but not as a penalty), CONTRACTOR shall pay OWNER $4,344.00 for each calendar day <br />that expires after the time specified in paragraph 4.02 for Substantial Completion (excluding <br />the period between May 1 and October 31, 2022) until the Work is substantially complete. <br />After Substantial Completion, if CONTRACTOR shall neglect, refuse, or fail to complete the <br />remaining Work within the Contract Time or any proper extension thereof granted by <br />OWNER, CONTRACTOR shall pay OWNER $4,344.00 for each calendar day that expires <br />after the time specified in paragraph 4.02 (excluding the period between May 1 and October <br />31, 2022) for completion and readiness for final payment until the Work is completed and <br />ready for final payment. In the event the CONTRACTOR fails to substantially complete the <br />project by April 30, 2022 and must return to substantially complete the Project after October <br />31, 2022, the CONTRACTOR shall not be compensated for any remobilization or <br />demobilization costs. <br />ARTICLE 5 - CONTRACT PRICE <br />5.01 OWNER shall pay CONTRACTOR for completion of the Work in accordance with the <br />Contract Documents, an amount in current funds equal to the sum of the amounts <br />determined pursuant to paragraph 5.01.A and summarized in paragraph 5.01.13, below: <br />A. For all Work, at the prices stated in CONTRACTOR's Bid, attached hereto as an exhibit. <br />B. THE CONTRACT SUM subject to additions and deductions provided in the Contract: <br />Numerical Amount: $ 14,174,738.00 <br />Written Amount: Fourteen million, one hundred seventy-four thousand, seven hundred thirty-eight dollars <br />Agreement (Public Works) REV 04-07 - 00520 - 3 <br />