Assessment of Liquidated Damages. 13.1.1 If the work is not completed within the time specified in Exhibit “B” to this Agreement plus applicable extensions of time, it is understood that the District will suffer damages. The Construction Manager and District hereby agree that the exact amount of damages for failure to complete the work within the time specified is extremely difficult or impossible to determine. Construction Manager shall be assessed the sum of Three Hundred dollars ($300.00) per day as liquidated damages for each and every day the work required under this Agreement remains unfinished past the time for completion, as set forth in the Agreement, and any extensions of time granted by the DISTRICT under the terms of the contract documents.
Appears in 4 contracts
Samples: Master Agreement for Construction, Master Agreement for Construction, Agreement for Construction
