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DAS~mmg o5/18/89 (#40/017) <br /> <br />in case all work called for under the agreement is not finished <br />or completed on or before the time set forth in this agreement, <br />damage will be sustained by the City, and that it is and will be <br />impracticable and extremely difficult to ascertain and determine <br />the actual damage which the City will sustain in the event of, <br />and by reason of such delay; it is therefore agreed the <br />Contractor will pay to the City the sum calculated at the rate of <br />Five Hundred Dollars ($500.00) per day as liquidated damages for <br />each and every working day's delay in finishing the work in <br />excess of the number of working days prescribed, and the <br />Contractor agrees to pay said liquidated damages as herein <br />provided, and in case the same are not paid, agrees that the City <br />may deduct the amount thereof from any monies due or that may <br />become due under this agreement. <br /> <br /> It is further agreed that in case the work called for under <br />this agreement is not completed in all its parts and requirements <br />within the number of working days specified, the City shall have <br />the right to increase the number of working days or not, as may <br />seem best to serve the interest of the City; and if it is decided <br />to increase the said number of working days, the City shall <br />further have the right to charge to the Contractor, and deduct <br />from the final payment for the work, all or any part, as the City <br />may deem proper, of the actual cost of engineering, inspection, <br />superintendence, and other overhead expenses of the City which <br />are directly chargeable to this agreement, except that the cost <br />of final surveys and the preparation of final estimates shall not <br />be included in such charges to be paid by Contractor. <br /> <br /> 11 <br /> <br /> <br />