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A. All time limits for Milestones, if any, Substantial Completion and completion and <br />readiness for final payment as stated in the Contract Documents are of the essence <br />of the Contract. <br />4.02 Days to Achieve Substantial Completion and Final Payment <br />A. The Work will be substantially completed within 300 consecutive calendar days <br />after the date when the Contract Times commence to run as provided in paragraph <br />2.03 of the General Conditions, and completed and ready for final payment in <br />accordance with paragraph 14.07 of the General Conditions within 330 <br />consecutive calendar days after the date when the Contract Times commence to <br />run. <br />B. Milestone 1 — All submittals will be submitted to ENGINEER within 90 <br />consecutive calendar days of Notice -to -Proceed. Select shop drawings are to be <br />submitted earlier in accordance with Specification Section 0133 00. <br />C. It is expressly understood and agreed, by and between the CONTRACTOR and <br />OWNER, that the Contract Time for completion of the work described herein is a <br />reasonable time, taking into consideration the average climatic and economic <br />conditions and other factors prevailing in the locality of the work and excludes the <br />time for unavoidable delays which were beyond the control and without the fault <br />of the CONTRACTOR. <br />4.03 Liquidated Damages <br />A. CONTRACTOR and OWNER recognize that time is of the essence of this <br />Agreement and that OWNER will suffer financial loss if the Work is not <br />completed within the times specified in paragraphs 4.02A. and 4.02B. above plus <br />any extensions thereof allowed in accordance with Article 12 of the General <br />Conditions. They also recognize the delays, expense and difficulties involved in <br />proving in a legal or arbitration proceeding the actual loss suffered by OWNER if <br />the Work is not completed on time. Accordingly, instead of requiring any such <br />proof, OWNER and CONTRACTOR agree that as liquidated damages for delay <br />(but not as a penalty) CONTRACTOR shall pay OWNER one -thousand dollars <br />($1,000) for each day that expires after the time specified in paragraphs 4.02A. and <br />4.02B. for Substantial Completion until the Work is substantially complete. After <br />Substantial Completion, if CONTRACTOR shall neglect, refuse or fail to <br />complete the remaining Work within the Contract Time or any proper extension <br />thereof granted by OWNER, CONTRACTOR shall pay OWNER five hundred <br />dollars ($500) for each day that expires after the time specified in paragraph <br />4.02A. for completion and readiness for final payment until the Work is completed <br />and ready for final payment. <br />SB W WTP Digester Gas Utilization Design <br />Project No. 116-050 R 00 52 00-2 <br />