Laserfiche WebLink
Mtidc 3. COIYi'Etti(.`I' TIMES. <br />ore .. .. .... .. • .-_ ; 19 ~ •.. ._~ .~~.j~_. <br />aompletod and toady for Ctnal payment in acoordance with paragraph 14.13 of the Get>e~d CondiGiocu oa or _.._., <br />bdorc .. , 19 .. <br />3.1 The Work will be substantially compkted within 75 • <br />days after the date when the Contract <br />commence to run as provided in paragraph 2.3 of the Gcncrat Conditions, and completed and rrad for <br />payment in accordance with 90 y <br />date when the Contract Times commence to ~~ of the Gcncral Conditions within days after the <br />31 Laqu~dated D~anrages. OWNER and CONTRACTOR rccogniu that time is of the essenoc of this <br />Agreement and that OWNER will suffer financial loss if the Work is nol completed within the times <br />specified in paragraph 3, I above, plus any extensions thereof allowed in accordance with Artidc 12 of the <br />!! General Conditions. 'They also rccogniu the delays, expense and diflicultics involved in <br />~~ ~ s~~d by OWNER if the Work is not completed on. time. Acoor~dingly, instead of r+oquiri~ <br />.., nay such proof, OWNER and CONTRACI1pR ~ <br />p«ulty) CONTRAC'IiOR tthall ~ WO HUNDRED aF IFTY DO LABS ~y ~ not ~ a <br />~ pay OWNER <br />ddlarx (S 50.00 j for uch ~y that expires after the time specified in <br />paragraph 3.1 for Substantial <br />Cocnplction until the Work is substantially complete. After Substantial Completion, if CONTRACTOR <br />~) rx~loct, refuse or fail to complete the remaining Work within the time :pccified is paragraph 3.1 for <br />. ooatpktioa and tra~dioess for final payment or nay proper extension thercof..graatod by OWNER, <br />1 CO~'RA+CIbR rha11 pay O WNER dollars (S 2 50:00 ~ -) for each day that <br />1 '~'rcs'~u ~ ~e spaified in paragraph 3.1 for completion and readiness for final payment. <br />l (K'henr failwn to reach a Milestone on time is of such cons~qu~nce to OWNER that 11r~ asussnuRt of <br />liquidated danragts is to be providtd, appropriate airrending or supplementing languagr should lxx <br />~;~ inserttd htrt.J <br />1 (Stru4 any of tht above paragraphs that are inappGcablr) . <br />.~ <br />t <br />..J <br />E <br />_~ <br />_~ <br />>. <br />1 <br />.1 <br />.~ c <br /> <br />