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8. It is hereby agreed by the parties to the Agreement that in case all work <br />called for under the Agreement is not finished or completed on or before the time set <br />forth in this Agreement, damage will be sustained by City, and that it is and will be <br />impracticable and extremely difficult to ascertain and determine the actual damage <br />which the City will sustain in event of and by reason of such delay; it is therefore <br />agreed Contractor will pay to City the sum calculated at the rate of Five Hundred <br />Dollars ($500.00) per day as liquidated damages for each and every day's delay in <br />finishing the work in excess of the number of working days prescribed, and Contractor <br />agrees to pay said liquidated damages as herein provided, and in case the same are <br />not paid, agrees that City may deduct the amount thereof from any monies due or that <br />may become due under this Agreement. <br /> <br /> It is further agreed that in case the work called for under this Agreement is not <br /> completed in all of its parts and requirements within the number of calendar days <br /> specified, City shall have the right to increase the number of working days or not, as <br /> may seem best to serve the interest of City; and if it is decided to increase the said <br /> number of working days, City shall further have the right to charge to Contractor, and <br /> deduct from the final payment for the work, all or any part, as City may deem proper, <br /> of the actual cost of engineering, inspection, superintendence, and other overhead <br /> expenses of City which are directly chargeable to this Agreement, except that the cost <br /> of final surveys and the preparation of the final estimate shall not be included in such <br /> charges to be paid by Contractor. <br /> <br />Agmt-477 1 2 <br />FXS:djk <br />Shared/Redwood/Council <br />4/25/01 <br /> <br /> <br />