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6.1 E <br /> - Page 8 <br /> Proc:eed)and Section 00700(Gen�rai Conditiona}; and <br /> 1. Contr�tor shati ac�tieve SubstaMiai Compledan�the Wark in phases for 3&� <br /> Caiendar day or tt�e fuli oonfrad amourrt, eac� phase shall have 14 calendar <br /> day frorn natic� #a procaed for that pha�e frum the date the Contract Time <br /> cammences to run. <br /> B. Liguideted Dam�es <br /> 1. City and Contrador recagn�e tha!time is of the esser�oe of this Agreemerrt <br /> and th�t Ciry wil( su�Fer finanaal loss in the form of last revenues, contract <br /> administrativn expenses (inGuding projecE managernent and consuttants' <br /> expenses), clelay and iass of public use, if the Wvric is r�ot oompleted within <br /> the time spec�fied in pa�graph 3.1 above plus any extensions ther�eo�F <br /> allowed in accordance wi#h the CoMrad DocumeMs. Consistent with <br /> Dxument 0070a (General Gonditions), Can#rac�or and C�ty agr�e that <br /> becaeisc of the nature of #he Project, it wauld be impr�i or extr+�mely <br /> difficult to fix the amount of actua! damages incurred by Cityr bacause of a <br /> delay in campletion of tiie Work. � <br /> 2. Aaconiingly, C+ty and CoMrador agt�e that Contractor shall pay City Flve <br /> Hundred and t�/100 Dol#a�s ($500A0) for each Day that �xpires after the <br /> 6me specified in Paragraph 3.1 of this Document 00520 fo� Contrector to <br /> act�ieve Substantia! Completion, urrtit such date as csontractar achieves <br /> Substantial Compietion. <br /> C. Liquidated damages for de[ey shatl on�y cover ar►d be ir� lieu of the actual damages <br /> suffered by City as a result ot'deiay re#erenoed above. Liquidated damages shalt not <br /> cover the cost of completicn of the Work, damages r+�sulting from de�ctive work, <br /> cost of femparary replac�merrt facitities, damages suffered by othe�s who then seek <br /> ta recover their damages from City (for example, deiay ciaims of othet cor►fractors or <br /> subcontt�ctors), $nd defense costs thereof. <br /> D. Cor�t►�act Renewal <br /> � This�ontrad can be extended by the Cit�r for up#o two{2}consecu#ive years a#the <br /> discretion and approval af the City. The price may be increased up to S°k from the <br /> pr�eeeeding year bas�d an approval by the City. The Ci#y sha#i natity the Contractar <br /> in wr�ting of the intent to extend the cbntract by June 1�af the curnent oontract year. <br /> The corrtractor shaii prepare sll bands and in�urance docume�rts in a timety manner <br /> to facff�tate the contract exter�sion. <br /> N. CITIf'S ENGINEER AND REPRESENTATMES <br /> Reserved <br /> V. CONTRAC'TC�R'S REPRESENTAT10N3 AND WARRANTIE3 <br /> In ander to induoe City to errter irrto this Ags�ment, Contractor rnakes the following <br /> nepresentations and warrarrties: <br /> A. Cor�tractor has visited the Site and h�s examined #lwroughly and unders#ood the <br /> na�ture ar�d extent of the Work, Site, iocality, actual conditions, as buiit canditians, <br /> and a11 ioc;al conditions and federat, state and bcal Iaws and regulations that i�any <br />