Bids shall be for the furnishing of all labor, materials, equipment, plant and superintendence, for performing the Work for the installation of approximately 24,953 LF of drainage channel ditches, 1782, LF of storm sewer pipe, 350 CY of rock rip-rap, and reconstruction of gravel roads all in accordance with the Plans and Specifications. Specified Work is set out in Document No. 00300 of these Contract Documents. OWNER and CONTRACTOR recognize that time is of the essence in this
Agreement and that OWNER will suffer financial loss if the Work is not
substantially complete within the time specified in paragraph .03.a above, plus
any extensions thereof allowed in accordance with Article 12 of the General
Conditions. They also recognize the delays, expense and difficulties involved in
proving in a legal proceeding the actual loss suffered by OWNER if the Work is
not substantially complete on time.
Accordingly, instead of requiring any such proof, OWNER and CONTRACTOR
agree that, as liquidated damages for delay (but not as a penalty),
CONTRACTOR shall pay OWNER THREE HUNDRED DOLLARS ($300.00)
for each day that expires after the time specified in paragraph .03.a. CONTRACTOR hereby agrees that said sum per day is a fair estimate of the
pecuniary damages which will be sustained by OWNER in the event that the
Work is not complete within the agreed time, or within extensions of time
properly granted in accordance with the Contract Documents. Said sum shall be
considered as liquidated damages only and not a penalty, said damage being
caused by loss oftimely use ofthe Work other injury difficult to quantify. For purposes of applying this liquidated damages clause, the CONTRACTOR
agrees to waive as against the OWNER any defense to enforcement ofsaid clause
based on any ofthe following claims: (1) that the clause is a penalty; (2) that the
daily amount stated in the clause is not a reasonable estimate and approximation
as of the time of contracting of OWNER'S actual damages; (3) that the damages
caused to OWNER by reason of delay were not difficult to estimate at the time of
contracting.
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