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<br />"'1 <br />I <br /> <br />e <br /> <br />e <br /> <br />Ar1idt 3. CONl"RACr TIMES. <br /> <br />. <br />.. <br /> <br />1.. The Wort waf ~ M.~Iy,~ on.Of bclore '0 ' ".,..,.... ',-_,_ . 19.-'" ,o_-.'Md' .... <br />. . ... ., --, <br />~ and lady fOr final pa)'lnd1t in ~ With ~ 1<4.13 of the GcnenI Coc~ Go or <br />bd~ ... ,. . .19_, .. <br /> <br />3.1 The Wort Will be subsLantiaJly completed within 75 . days after the date when the Contract <br />limes commence to run as provided in paragraph 2.3 of the General Conditions. and corrtPleted and ready for <br />final payment in accordance with paragraph 14.13 of the General Condition!' within 90 daY" after the <br />date when the Contracl Times commence to run, <br /> <br />( <br /> <br />.." <br />I <br />i <br /> <br />3.2 Liqllidtl/~tI /)QlrItlg~s. OWNER and CONTRACTOR recognize that time is of the essence of this <br />A,recment and that OWNER will suffcr financial loss if the Work is not complcted within (be Limes <br />apocified in paragraph 3.1 abovc, plus any cxtensions thcreof allo.wed in accordance with Article 12 of the <br />GcncraJ Conditions. Thcy also ~izc the delays, cxpensc and difficulties involved in proving the <br />actual loss sutrcrcd by OWNER if the Wor1c is no( complcted on, time. Accordingly, instead of requiring <br />aay sucla proo(, OWNER and CONTRACroR agree that as liquidated darnucs for delay (bel( no( as a <br />penalty) CONTRACI'OR shall pay OWNER o. TWO HUNDRED' FIFTY DOlLARS <br />dollars (S 250 . 00 ) for each day that cxpires aftcr the time specified in paragraph 3. J for Substantial <br />Complction unt11 the Wor1c is substantially complete. Aftcr Substantial Completion, if CON1lV.CroR.. <br />shall nqIect. rdusc or fail to comp/ctc the remaining Work within the time spcc:ificd in parqrapb 3.1 for <br />c:omplctioa &ad readiacss for final payment or any proper cxtcasioa therc:o(graa~ .by. OWNER. <br />CON1lV.CroR shall pay OWNER doliars (S 250: 00 ' ') for eaCh day that <br />cxpires after the time specified in paragraph 3.1 for completion and readiness for final pa)"lDClll. <br /> <br />/WMrr ftziJurr 10 ~tlch tl MiJ~sIOll~ 011 tirM is of such cOfU~qU~IIC~ 10 OWNER IIuzt 1M QS~SSlMfIl of <br />liquidat~d dtJlrItlg~s is 10 ~ provid~d. tlppropritlU am~nding or suppl~m~nlillg lcurguag~ should ~ <br />ifU~rt~d Mr~.J <br /> <br />.... <br /> <br />i <br />, j <br /> <br />; '''J <br /> <br />"I <br />i <br /> <br />,I <br /> <br />~~1 <br /> <br />J <br /> <br />(Slrk tlny of Ih~ tlbov~ paragraphs Ihat ar~ iruzpplicabl~) <br /> <br />c <br /> <br />0, <br /> <br />. <br />I <br />I <br />.,J <br /> <br />1 <br />_.J <br /> <br />'"l <br />J <br />J <br />f <br />. <br />..J <br />f ( <br />:., <br />I <br />