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Site work and paving for a road / highway in Ionia, Michigan. Completed plans call for site work for a road / highway; and for paving for a road / highway.
A. Contractor and Owner recognize that time is of the essence as stated in Paragraph 4.01 above and that Owner will suffer financial loss if the Work is not completed within the times specified in Paragraph 4.02 above, plus any extensions thereof allowed in accordance with Article 12 of the General Conditions. The parties also recognize the delays, expense and difficulties involved in proving in a legal or arbitration proceeding the actual loss suffered by Owner if the Work is not completed 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 One Thousand Five Hundred Dollars ($1,500) for each day that expires after the time specified in Paragraph 4.02 above for Substantial Completion until the Work is substantially complete.
Award
Roads / Highways
$1,772,531.00
Public - City
Paving, Site Work
Trades Specified
Division 00 - Lorem Ipsum
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Jones St & Morse St, Ionia, MI
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