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6.1 D <br /> Page 8 <br /> It�. CONTRACT TtME AND LIQUIDATED DAMAGES <br /> A Canfractor shaii complete the Wark within the tollowing ScheduEe re#lecting the date <br /> the Cc►ntract Time commenc�s to run as set forth in Secfiwn 04205 (Notice to <br /> Proceed)and Section 00210(General Conditions);and <br /> 1. Contractar sha(! achieve Sub�fantiat Completion of the Wark as assigned by <br /> #he City for each wQrk assigr►ment far up to 365 Calendar days or the fuA <br /> cantract amoun#, from notice ta proceed. The agreement cycie shafl run from <br /> Sep#ember 1�`through August 39�af the faHowirig calendar year. <br /> 8. l.iquidat�! Qarriaqes <br /> 1. Cify and Contractor reaoc�nize that.time is of the esssnce of this Agreement <br /> and that City wilf suffer financial toss in the form of Iost revenues, contract <br /> administration exp�r�ses (including project management at�d consultanfs' <br /> expenses), deiay and lbss of pub(ic use, ifi the Work is not comp(efied wiihin <br /> the reasonable time specified in the work assignments incfuding any <br /> extensions thereof allowed in accordance with the Contract Doc+�men#s. <br /> Consistent with Document 00210 (Genera! Conditivns), Contractor and City <br /> agree thaf hecause of the na#ure of the ProJect, it would be impraciicai or <br /> extremeiy di#ficult to flx the amount of acfuaf damages incurred by City <br /> because of a delay in completfon of the Wor1c. <br /> 2. Accardingty, City and Coritractor agree that Con#racto� sha�l pay City F)ve <br /> Hundred and Nol�f00 Dollars �$5a0.00) far each Day that expires after the <br /> reasona6le time speclfied in each assignrnent far Contractor to achieve <br /> , Subsfanfia( Gompleflon, unfif such date as cvntractar achieves Substanfial <br /> Completion. <br /> G. Liqukiated d�mages for detay shalk onky cover and be in tieu of ti�e actua( damages <br /> suffered by Gity as a result of delay refer�nced above. l..iquidated darneges shalf not <br /> cover the cost af completion of the Work, damages resutting frorn defecfive work, <br /> cost af temporary replacement facilibes,damages suffered by others who thert seek <br /> to recover their�iamages from City(for e�mple, delay ctaims of other caontractors or <br /> subcor�tractors},anr!defense cos#s th�reof. <br /> t3. Contract Periad <br /> � 1'his cantract wii! caver five {5) consecutive years. The compensation for each subsequent <br /> year shall be subject#a annuat adjustmen#as set for�h below. <br /> (aj The 5an Francisco-Oakland-San Jose Consumer Price tndex�,AlE 1#�ms. 1982-84=10Q <br /> far AIJ Urban Consumers (CPI-l1}pubiished by the U.S. Department of Labo�, 8ureau of <br /> Labor Statistics (the "lndex") shall be used #or the purpose of calculating anrtua! <br /> compensa#ion increases. The max{mur» percentags increase for any subsettue�rt year <br /> shall be 5% increase aver the indiv(dual bid item rate for the initial or preceding contract <br /> year. � <br /> (b} 7he "Beginning Index° shall be the index publ�shed for the initial year priar ta the <br /> commencement of th� subseqe�ent "Extension° year. The "Extension index° shatl be <br /> AGREEM�NT �020Q-2 <br />