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a. Commence Work on site within 30 days from the date of the Notice <br /> to Proceed <br /> b. Time for Substantial Completion. Contractor shall substantially <br /> complete the Work for the Project with 80 calendar days from the <br /> date the Contract Time commences to run given in the Notice to <br /> Proceed. <br /> c. Time for Final Completion. Contractor shall fully complete the <br /> Work for the Project within 90 calendar days from the <br /> commencement date given in the notice to proceed ("Contract <br /> Time"). By signing below, Contractor expressly waives any claim for <br /> delayed early completion. <br /> B. Liquidated Damages <br /> 1. City and Contractor recognize that time is of the essence of this <br /> Agreement and that City will suffer financial loss in the form of lost <br /> revenues, contract administration expenses (including project <br /> management and consultants' expenses), delay and loss of public <br /> use, if the Work and each milestone thereof is not completed within <br /> the time specified in paragraph III.A.1 above plus any extensions <br /> thereof allowed in accordance with the Contract documents. <br /> Consistent with Section 00700 (General Conditions), Contractor and <br /> City agree that because of the nature of the Project, it would be <br /> impractical or extremely difficult to fix the amount of actual damages <br /> incurred by City because of a delay in completion of the Work. <br /> 2. Accordingly, City and Contractor agree that Contractor shall pay City <br /> the amounts listed below for each Day that expires after the time <br /> specified in Paragraph III.A.1 of this Section 00520 for Contractor to <br /> achieve each milestone listed above and Substantial and Final <br /> Completion, until such date as contractor achieves each milestone <br /> listed above and Substantial and Final Completion. <br /> C. Liquidated Damages Amounts <br /> 1. Milestone A.1. ------$100.00 per Day <br /> 2. Milestone A.2. ------$100.00 per Day <br /> 3. Milestone A.3. ------$100.00 per Day <br /> 4. Milestone A.1. -------$500.00 per Day <br /> 5. Substantial Completion (A.2.) -------$1,500.00 per Day <br /> 6. Final Completion (A.3.) ------ $1,000.00 per Day <br /> C. Liquidated damages for delay shall only cover and be in lieu of the actual <br /> damages suffered by City as a result of delay referenced above. Liquidated <br /> damages shall not cover the cost of completion of the Work, damages <br /> resulting from defective work, cost of temporary replacement facilities, <br /> damages suffered by others who then seek to recover their damages from <br /> City (for example, delay claims of other contractors or subcontractors), and <br /> defense costs thereof. <br /> 2014 Jardin De Ninos Park Renovation Project 00520-2 <br />