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Alternative improvements to act as Owner's representative, assume all duties and responsibilities <br />of Engineer, and have the rights and authority assigned to Engineer in the Contract. <br />3.02 The part of the Project that pertains to the Work has been designed by American Structurepoint <br />for the CSO 045 Basin improvements and Arcadis for the Final Clarifiers 1-3 Rehabilitation - <br />Peripheral Feed Alternative. <br />ARTICLE 4 - CONTRACT TIMES <br />4.01 Time is of the Essence <br />A. All time limits for Substantial Completion, as stated in the Contract Documents are of the <br />essence of the Contract. <br />4.02 Contract Times: Dates <br />A. The Work will be substantially complete, including meeting the Owner's Long -Term Control <br />Plan, on or before November 10, 2025. <br />B. The Work will reach final completion on or before December 8, 2025. <br />4.03 Milestones <br />A. Intentionally Deleted. <br />4.04 Liquidated Damages <br />A. Contractor and Owner recognize that time is of the essence as stated in Paragraph 4.01 <br />above and that Owner will suffer financial and other losses if the Work is not completed and <br />Milestones not achieved within the Contract Times, as duly modified. The parties also <br />recognize the delays, expense, and difficulties involved in proving, in a legal or arbitration <br />proceeding, the actual loss suffered by Owner if the Work is not completed on time. <br />Accordingly, instead of requiring any such proof, Owner and Contractor agree that as <br />liquidated damages for delay (but not as a penalty): <br />Substantial Completion: Contractor shall pay Owner $1000.00 for each day that expires after the time (as <br />duly adjusted pursuant to the Contract) specified above for Substantial Completion, until the Work is <br />substantially complete. <br />B. If Owner recovers liquidated damages for a delay in completion by Contractor, then such <br />liquidated damages are Owner's sole and exclusive remedy for such delay, and Owner is <br />precluded from recovering any other damages, whether actual, direct, excess, or <br />consequential, for such delay, except for special damages (if any) specified in this Agreement. <br />ARTICLE 5 - CONTRACT PRICE <br />5.01 Cost -Plus -Fee <br />A. Owner shall pay Contractor for completion of the Work in accordance with the Contract <br />Documents, the Cost of the Work plus Contractor's fee for overhead and profit, both of <br />which will be determined as provided in Articles 6 and 7 below, subject to additions and <br />deletions as provided in the Contract and subject to the limitations set forth in Article 8 <br />below. <br />EJCDC® C-525, Agreement between Owner and Contractor for Construction Contract (Cost -Plus -Fee). <br />Copyright° 2018 National Society of Professional Engineers, American Council of Engineering Companies, <br />and American Society of Civil Engineers. All rights reserved. <br />Page 3 of 9 <br />