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6.1 B Page 3 B. Liquidated Damages 1. City and Contractor recognize that time is of fhe essence of this Agreement and that Cit}/will suffer financial loss in the form of last revenues, cort#ract administration expenses (including project management and consultants' expenses), delay and loss af public use, if the Work is not completed within the time speafied in paragraph IlLA.1 above plus any exte�sions thereof allowed in accordance with the Contraet documents. Consistent with Section 00700 (Genera!Conditions}, Contractar and Cit�+agree that because of the nature of the Project, it would be impractical or extremeiy difficuft ta fix the amaunt of actual damages incurred by City because of a delay in campletion of the Work. 2. Accordingly, City and Contractor agree that Contractor shall pay City [$x,000J for each Day that expires after the time spec�ed in Paragraph Ill.A.1 af this Section 00520 for Contractor to achieve Substantial Comp4etian,until such date as cantractor achieves Substar�tiai Campietian. C. Liquidated damages for delay shall only cover and be in lieu of the actual damages su{�ered by City as a result o#delay referenced above. Liquidated damages shall not cover the c�st of completion of the Wark, damages resulting from defective work, cost of temporary replacement facilities, damages suffered by others who then seek to recaver their damages frorn Cify (for example, detay ciaims of other contractors or subcontractors},and defense costs thereof. IV. CITIf'S ENGINEER AND REPRESENTATNES Reserved , V. CONTRACTOR'S REPRESENTATIONS AND WARRANTIES In orcter to induce City to enter into this Agreement, Cantractor makes the following representations and warrarrties: A. Contractor has visited t�e Site and has examined #horoughly and understood fhe nature and extent af the Work, Si�e, locality, actual conditions, as built conditions, and all local conditions and federal,state and local laws and regulations that in any manner may affect cost, progress, perFormance or fumishing of Work or which relate to any aspec�of the design and the means,methods,techniques,sequences or procedures of ct�nstruction to be employed by Contractor and safety precautions and programs incident thereto. B. Contractor has examined thoroughly and understood all re�orts af exploration and tests of subsurfac� conditions, drawings or reports, availabie for design and construction purposes, of physical conditions,or which may be apparent at the Site and acoepts the determinatian set forth in these Sections and Section 00700 (General Conditions) of the fimited extent of the ir�formation contained ER tI1�SE Sections upon which the Contractar may be entitled to rely. Contractor agrees that except for the information so identifled, Cantractor does not and shall not rely on any other information contained in these Sections. C. Cantractor has considered the physicai conditions at or contiguous to the Site or otherwise which may affect the cost, prngress, performance or fumishing of Work, as Contractor considers necessary for the performance or fumishing of Wark at the Contrac�Sum,within the Corrtract Time and in accordance with the other terms and conditions of Contract documer�ts, including specifically the provisions of the Generai Conditions. AGREEMENT 00520-2