Proposed Heritage Rail Trail Connection to Mine Falls Park
Paragraph 15.06 of the General Conditions within 190 days after the date when the
Contract Times cormmence to run.
B. It is anticipated that Notice to Proceed will be issued on February 12, 2018 in order
to complete shop drawing review and anticipated prefabricated steel truss lead time
prior to the Contractor taking the site. It is anticipated that the Contractor will be
allowed to take the site on May 7, 2018.
4.03 Liquidated Damages
A. Contractor and Owner recognize that time is of the essence as stated in Paragraph
4.01 above and that Owner will suffer financial and other losses if the Work is not
completed and Milestones not achieved within the times specified in Paragraph 4.02
above, plus any extensions thereof allowed in accordance with the Contract. The
parties also recognize the delays, expense, and difficulties involved in proving in a
legal or arbitration 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):
1. Substantial Completion: Contractor shail pay Owner $520.00 for each day that
expires after the time (as duly adjusted pursuant to the Contract) specified in
Paragraph 4.02.A above for Substantial Completion until the Work is substantiaily
complete.
2. Final Completion of Remaining Work: After Substantial Compietion, if Contractor
shall neglect, refuse, or fail to complete the remaining Work within the Contract
Time (as duly adjusted pursuant to the Contract) for completion and readiness
for final payment, Contractor shall pay Owner $520.00 for each day that expires
after such time until the Work is completed and ready for final payment.
3. Liquidated damages for failing to timely attain Substantial Completion and final
completion are not additive and will not be imposed concurrently.
B. Not Used.
ARTICLE 5 — CONTRACT PRICE
5.01 Owner shall pay Contractor for completion of the Work in accordance with the Contract
Documents the amounts that follow, subject to adjustment under the Contract:
A. For all Unit Price Work, an amount equal to the sum of the extended prices
(established for each separately identified item of Unit Price Work by multiplying the
unit price times the actual quantity of that item):
TOTAL OF ALL UNIT PRICES $ 502,622.75 __(doliars)
(use words)
The extended prices for Unit Price Work set forth as of the Effective Date of the
Contract are based on estimated quantities. As provided in Paragraph 13.03 of the
Hoyle, Tanner Project No. 902603 00520-2
