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<br /> 1. Contractor shall achieve Substantial Completion of all Griffin/Bechet Field <br /> portions of the Work within ninety (90) Calendar Days from the date the <br /> Contract Time commences to run. <br /> 2. Contractor shall achieve Substantial Completion of all remaining portions of the <br /> Work within Two Hundred Forty (240) Calendar Days from the date the <br /> Contract Time commences to run. <br /> 3. Contractor shall achieve Final Completion of the entire Work within Two <br /> Hundred Seventy (270) Calendar Days from the date the Contract Time <br /> commences to run. <br /> B. liquidated DamaQes <br /> 1. City and Contractor recognize that time is of the essence of this Agreement <br /> and that City will suffer financial loss in the form of lost revenues, contract <br /> administration expenses (including project management and consultants' <br /> expenses), delay and loss of public use, if the Work is not completed within <br /> the time specified in paragraph UI.A. above plus any extensions thereof <br /> allowed in accordance with the Contract Documents. Consistent with <br /> Document 00700 (General Conditions), Contractor and City agree that <br /> because of the nature of the Project, it would be impractical or extremely <br /> difficult to fix the amount of actual damages incurred by City because of a <br /> delay in completion of the Work. <br /> 2. Accordingly, City and Contractor agree that Contractor shall pay City: <br /> a. $1,000 for each Day that expires after the time specified in Paragraph <br /> 1I1.A.1 of this Document 00520 for Contractor to achieve Substantial <br /> Completion of the portion of the Work described therein, until <br /> achieved. <br /> b. $1,000 for each Day that expires after the time specified in Paragraph <br /> 1I1.A.2 of this Document 00520 for Contractor to achieve Substantial <br /> Completion of the portion of the Work described therein, until <br /> achieved. <br /> c. $1,000 for each Day that expires after the time specified in Paragraph <br /> 1I1.A.3 of this Document 00520 for Contractor to achieve Final <br /> Completion of the entire Work, until achieved. <br /> C. Liquidated damages for delay shall only cover and be in lieu of the actual damages <br /> suffered by City as a result of delay referenced above. Liquidated damages shall <br /> not cover the cost of completion of the Work, damages resulting from defective <br /> work, cost of temporary replacement facilities, damages suffered by others who <br /> then seek to recover their damages from City (for example, delay claims of other <br /> contractors or subcontractors), and defense costs thereof. <br />IV. CITY'S ENGINEER AND REPRESENTATIVES <br /> Reserved <br />ATTY/AGR/2006.038 <br />073106 <br /> 2 <br /> _. <br />