2002-097 Ordinance - Laserfiche WebLink

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?.. accordance 5.4 accordance 5.5 accordance with Paragraph 14.9 of the General Conditions on or before (Insert Date). The Phase II Work will be substantially completed on or before (Insert Date), an d completed and ready for final payment in with Paragraph 14.9 of the General Conditions on or before (Insert Date). The Phase III Work will be substantially completed on or before (Insert Date), and completed and ready for final payment in with Paragraph 14.9 of the General Conditions on or before (Insert Date). SECTION 6. LI(?UIDATED AND SPECIAL DAMAGES 6.1 Liquidated Damages: CITY and CONTRACTOR recognize that time is of the essence as to Substantial Completion and that CITY will suffer financial loss, if the Work is not substantially completed within the time specified in Section 5 above, plus any extensions thereof allowed in accordance with Article 12 of the General Conditions. CITY and CONTRACTOR also recognize and the difficulty in deternuning with reasonable certainty the actual loss which will be suffered by CITY if the Work is not substantially completed on time. Accordingly, instead of requiring any such proof, CITY and CONTRACTOR agree that as liquidated damages for delay (but not as a penalty) CONTRACTOR sha11 pay CITY $1,000 for each day that expires after the time specified in Section 5 for Substantial Completion (adjusted for any extensions thereof made in accordance with Article 12 of the General Conditions) until the Work is substantially complete. 6.2 Special Damages: In addition to the amount provided for liquidated damages, CONTRACTOR shall pay CITY the actual casts reasonably incurred by CITY for its engineering and inspection forces employed on the Work for each day that occurs after the time specified in Section 5 for Substantial Completion (adjusted for any extensions thereof made in accordance with Article 12 of the General Conditions) until the Work is substantially complete. 4 .„ , , .. -11„?? ?????? ?"-..",,,->.... , ,, .