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. 2. Notice to Proceed No. 2: Contractor shall achieve Substantial Completion of the Work within 120 Calendar Days from the date the Notice to Proceed No. 2 commences to run. 3. Contractor shall achieve Final Completion of the entire Work 127 Days from the Notice to Proceed No. 2 Date. B. Liquidated Damaqes 1. City and Contractor recognize that time is of the essence of this Agreement and that City will suffer financial loss in the form of lost revenues, contract administration expenses (including project management and consultants' expenses), delay and loss of public use, if the Work is not completed within the time specified in paragraph III.A.1 above plus any extensions thereof allowed in accordance with the Contract documents. Consistent with Section 00700 (General Conditions), Contractor and City agree that because of the nature of the Project, it would be impractical or extremely difficult to fix the amount of actual damages incurred by City because of a delay in completion of the Work. 2. Accordingly, City and Contractor agree that Contractor shall pay City $2,000 for each Day that expires after the time specified in Paragraph III.A.1 and Paragraph III.A.2 of this Section 00520 for Contractor to achieve Substantial Completion, until such date as contractor achieves Substantial Completion. 3. As liquidated damages for delay Contractor shall pay Owner Two-Thousand dollars $2,000 for each Day that expires after the time specified herein for Contractor to achieve Final Completion of the entire Work, until achieved. 4. See Document 00700 (General Conditions) Paragraph 7.09.D for liquidated damages provisions pertaining to Key Personnel. C. Liquidated damages for delay shall only cover and be in lieu of the actual damages suffered by City as a result of delay referenced above. Liquidated damages shall not cover the cost of completion of the Work, damages resulting from defective work, cost of temporary replacement facilities, damages suffered by others who then seek to recover their damages from City (for example, delay claims of other contractors or subcontractors), and defense costs thereof. IV. PROJECT REPRESENTATIVES A. Owner's Proiect Manaqer 1. Owner has designated Gilbane Building Company as its Project Manager to act as Owner's Representative in all matters relating to the Contract Documents. Project Manager is the beneficiary of all Contractor obligations to Owner including, without limitation, all releases and indemnities. 2. Project Manager shall have final authority over all matters pertaining to the Contract Documents and shall have sole authority to modify the Contract Documents on behalf of Owner, to accept work, and to make decisions or actions binding on Owner, and shall have sole signature authority on behalf of Owner. 3. Owner may assign all or part of the Project Manager's rights, responsibilities and duties to a Construction Manager, or other Owner Representative. AGREEMENT Red Morton Park Synthetic Turf and Tennis Court Renovation Project No.2015-22 June 2015 00520-2