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<br />.. <br /> <br />commences to run. <br /> <br />B. Liauidated Damaaes <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 III.A.1 above plus any extensions thereof <br />allowed in accordance with the Contract Documents. Consistent with <br />Section 00700 (General Conditions), Contractor and City agree that because <br />of the nature of the Project, it would be impractical or extremely difficult to fix <br />the amount of actual damages incurred by City because of a delay in <br />completion of the Work. <br /> <br />2. Accordingly, City and Contractor agree that Contractor shall pay City One <br />Thousand Five Hundred and No/100 Dollars ($1500.00) for each Day that <br />expires after the time specified in Paragraph III.A.1 of this Document 00520 <br />for Contractor to achieve Substantial Completion, until such date as <br />contractor achieves Substantial Completion. <br /> <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 /> <br />IV. CITY'S ENGINEER AND REPRESENTATIVES <br />Reserved <br /> <br />V. CONTRACTOR'S REPRESENTATIONS AND WARRANTIES <br /> <br />In order to induce City to enter into this Agreement, Contractor makes the following <br />representations and warranties: <br /> <br />A. Contractor has visited the Site and has examined thoroughly and understood the <br />nature and extent of the Work, Site, locality, actual conditions, as built conditions, <br />and all local conditions and federal, state and local laws and regulations that in any <br />manner may affect cost, progress, performance or furnishing of Work or which <br />relate to any aspect of the design and the means, methods, techniques, sequences <br />or procedures of construction to be employed by Contractor and safety precautions <br />and programs incident thereto. <br /> <br />B. Contractor has examined thoroughly and understood all reports of exploration and <br />tests of subsurface conditions, drawings or reports, available for design and <br />construction purposes, of physical conditions, or which may be apparent at the Site <br />and accepts the determination set forth in these documents and Section 00700 <br />(General Conditions) of the limited extent of the information contained in these <br />documents upon which the Contractor may be entitled to rely. Contractor agrees <br />that except for the information so identified, Contractor does not and shall not rely <br />on any other information contained in these documents. <br /> <br />C. Contractor has considered the physical conditions at or contiguous to the Site or <br />otherwise which may affect the cost, progress, performance or furnishing of Work, <br />as Contractor considers necessary for the performance or furnishing of Work at the <br /> <br />EI Camino Real "Grand Boulevard" Streetscaping Project (Broadway to Brewster Avenue) <br /> <br />2 <br />