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Completion. <br />(c) From 251 calendar days to 280 calendar days from the effective date of Notice <br />to Proceed, the CONTRACTOR shall complete the following tasks: <br />1. Clean up project area. <br />2. Remove all equipment and material from project site. <br />3. Perform contract closeout procedures. <br />4. Demobilize. <br />3.2 Completion of all tasks outlined above (i.e., Subparagraphs a, b, and c) constitute <br />Final Completion. <br />3.3 Liquidated Damages. OWNER and CONTRACTOR recognize that time is of the essence <br />of this Agreement and that OWNER will suffer financial loss if the work is not completed within <br />the times specified in Paragraph 3.1 above, plus any extensions thereof allowed in accordance <br />with Article 12 of the General Conditions. They also recognize the delays, expense and <br />difficulties involved in proving in a legal proceeding the actual loss suffered by OWNER if the <br />work is not completed on time. Accordingly, instead of requiring any such proof, OWNER and <br />CONTRACTOR agree that as liquidated damages for delay (but not as a penalty) <br />CONTRACTOR shall pay OWNER four -hundred and fifty dollars ($450.00) for each day that <br />expires after the time specified in Paragraph 3.1 for Substantial Completion, if CONTRACTOR <br />shall neglect, refuse or fail to complete the remaining work within the Contract Time or any <br />proper extension thereof granted by OWNER, CONTRACTOR shall pay OWNER four -hundred <br />and fifty dollars ($450.00) for each day that expires after the time specified in Paragraphs 3.1 <br />and 3.2 for completion and readiness for final payment. <br />3.3.1 The CONTRACTOR and OWNER agree that OWNER is authorized to deduct <br />all or any portion of the above -stated liquidated damages due to the Owner from <br />payments due to the Contractor; or, in the alternative, all or any portion of the <br />above -stated liquidated damages may be collected from the Contractor or its <br />Surety or Sureties. These provisions for liquidated damages shall not prevent <br />the OWNER, in case of the CONTRACTOR's default, from terminating the <br />Contractor's right to proceed as provided in this AGREEMENT. <br />3.3.2 In addition to the above -stated liquidated damages, the CONTRACTOR shall be <br />responsible for reimbursing OWNER to third party consultants in administering <br />the Project beyond the Final Completion date specified in this Agreement, or <br />beyond an approved extension of time granted to CONTRACTOR, whichever <br />date is later. <br />ARTICLE 4 CONTRACT PRICE <br />4.1 OWNER shall pay CONTRACTOR for completion of the work in accordance with the Contract <br />Documents in current funds in the amount of $ 958,434.00 <br />ARTICLE 5 PAYMENT PROCEDURES <br />00530-2 <br />