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Project Extension Agreement <br />November 5, 2024 <br />Veterans Memorial Building/Senior Center— YMCA Joint Project—Phase 1 <br />NOW, THEREFORE, in consideration of the following mutual promises, undertakings and <br />representations, and other good and valuable consideration, the Parties agree as follows: <br />AGREEMENT <br />1. Recitals <br />The Parties acknowledge the accuracy of the foregoing recitals and make them part of <br />this Agreement by incorporation. <br />2. Completion of Sidewalk <br />TBC will complete the sidewalk on Madison Ave by December 1, 2024. If this date is not <br />achieved, TBC will immediately tender payment of $30,000 of the liquidated damage amount <br />previously invoiced by the City. TBC's payment must be no later than December 3, 2024. TBC <br />waives any rights to contest the $30,000 payment. The City reserves the right to assess and collect <br />all remaining liquidated damages. Failure to make this payment is a material breach of the contract <br />and is grounds for a termination for cause. <br />3. Completion of Plaza Flatwork <br />TBC will complete plaza flatwork by January 1, 2025. If this date is not achieved, TBC will <br />immediately tender payment of $30,000 of the liquidated damage amount previously invoiced by <br />the City. TBC's payment must be no later than January 3, 2025. TBC waives the right to contest <br />the $30,000 payment. The City reserves the right to assess and collect all remaining liquidated <br />damages. Failure to make this payment is a material breach of the contract and is grounds for a <br />termination for cause. <br />4. Minimum Number of Superintendents. <br />