Common use of Completion of Work Clause in Contracts

Completion of Work. The Shareholder shall use the Shareholder's best efforts to ensure that the Work is completed expeditiously, but in any event all Work shall be completed within an aggregate of 180 calendar days from the date of commencement of the Work, or such other period as the Corporation, in writing, designates (the “Completion Date”). Commencement of Work shall be defined as the first day when Contractor is present at the Building and/or materials are delivered to the Unit. Within such time period, Shareholder agrees that, absent written consent by the Corporation otherwise, all demolition shall occur at the commencement of the Work and shall not exceed twenty (20) days. The Corporation expresses no opinion regarding the feasibility of completion of the Work within this time period. No Work other than decorative work, such as painting, wallpapering or carpeting, may be continued beyond the Completion Date without the Corporation's specific written consent. If the Work shall not have been completed by the Completion Date, the Corporation shall be entitled to apply, from the security funds provided pursuant to paragraph 1(b) of this Alteration Agreement, the sum of $250.00 per day for each calendar day that the Work remains incomplete. These amounts are acknowledged to be liquidated damages, and not a penalty, to compensate the Corporation and the Corporation's shareholders for the costs and inconvenience of the continuation of the Work, it being understood that the damages caused by continuation of the Work would be difficult to determine. The Corporation's application of the security funds provided pursuant to paragraph 1(b) of this Agreement as aforesaid shall be without prejudice and in addition to all other remedies the Corporation may have. If the security funds provided pursuant to paragraph 1(b) are fully applied, the Shareholder agrees to pay all amounts due under this paragraph to the Corporation in weekly installments as additional rent under the proprietary lease. The determination of whether the Work is completed shall be made by the Corporation, and the Corporation's determination shall be conclusive. The Shareholder agrees that any consent by the Corporation to perform Work after the Completion Date may be revoked by the Corporation immediately if the Shareholder fails to comply with any requirement of this Agreement or extension of the Completion Date and only reinstated in the Corporation’s sole and absolute discretion. Notwithstanding anything contained herein to the contrary, the Corporation may in its sole and absolute discretion may, upon written request of Shareholder, waive or lessen the liquidated damages or extend the time periods set forth in this paragraph 11.

Completion of Work. The Shareholder shall use the Shareholder's best efforts to ensure that the Work is completed expeditiously, but in any event all Work shall be completed within an aggregate of 180 calendar 120 days from the date of commencement of the Work, or such other period as the Corporation, in writing, designates (the “Completion Date”). Commencement of Work shall be defined as the first day when Contractor is present at the Building and/or materials are delivered to the Unit. Within such time period, Shareholder agrees that, absent written consent by the Corporation otherwise, all demolition shall occur at the commencement of the Work and shall not exceed twenty (20) days. The Corporation expresses no opinion regarding the feasibility of completion of the Work within this time period. No Work other than decorative work, such as painting, wallpapering or carpeting, may be continued beyond the Completion Date without the Corporation's specific written consent. If the Work shall not have been completed by the Completion Date, the Corporation shall be entitled to apply, from the security funds provided pursuant to paragraph 1(b) of this Alteration Agreement, the sum of $250.00 1,000.00 per day week for each calendar day that week the Work remains incomplete. These amounts are acknowledged to be liquidated damages, and not a penalty, to compensate the Corporation and the Corporation's shareholders for the costs and inconvenience of the continuation of the Work, it being understood that the damages caused by continuation of the Work would be difficult to determine. The Corporation's application of the security funds provided pursuant to paragraph 1(b) of this Agreement as aforesaid shall be without prejudice and in addition to all other remedies the Corporation may have. If the security funds provided pursuant to paragraph 1(b) are fully applied, the Shareholder agrees to pay all amounts due under this paragraph to the Corporation in weekly installments as additional rent under the proprietary leaseinstallments. The determination of whether the Work is completed shall be made by the Corporation, and the Corporation's determination shall be conclusive. The Shareholder agrees that any consent by the Corporation to perform Work after the Completion Date may be revoked by the Corporation immediately if the Shareholder fails to comply with any requirement of this Agreement or extension of the Completion Date and only reinstated in the Corporation’s sole and absolute discretion. Notwithstanding anything contained herein to the contrary, the Corporation may in its sole and absolute discretion may, upon written request of Shareholder, waive or lessen the liquidated damages or extend the time periods set forth in this paragraph 11Date.

Completion of Work. The Shareholder shall use the Shareholder's ’s best efforts to ensure that the Work is completed expeditiously, but in any event all Work shall be substantially completed within an aggregate of 180 calendar 120 working days from the date of commencement of the Work, or such other period as the Corporation, in writing, designates designates, (the “Completion Date”). Commencement of Work shall be defined as the first day when Contractor is present at the Building and/or materials are delivered to the Unit. Within such time period, Shareholder agrees that, absent written consent by the Corporation otherwise, all demolition shall occur at the commencement of the Work and shall not exceed twenty (20) days. The Corporation expresses no opinion regarding the feasibility of completion of the Work within this time period. Substantial completion means that all work which would produce noise (including without limitation, hammering), dirt or odors has been fully completed. No Work other than minor adjustments which do not produce noise, odors or dirt and decorative work, such as painting, painting wallpapering or carpeting, may be continued beyond the Completion Date without the Corporation's ’s specific written consent. If the Work shall not have been completed by the Completion Date, the Corporation shall be entitled to apply, from the security funds provided pursuant to paragraph 1(b) of this Alteration Agreement, the sum of $250.00 per day for each calendar day that the Work remains incomplete. These amounts are acknowledged to be liquidated damages, and not a penalty, to compensate the Corporation and the Corporation's ’s shareholders for the costs and inconvenience of the continuation of the Work, it being understood that the damages caused by the continuation of the Work would be difficult to determine. The Corporation's ’s application of the security funds provided pursuant to paragraph 1(b) of this Agreement as aforesaid shall be without prejudice and in addition to all other remedies the Corporation may have. If the security funds provided pursuant to paragraph 1(b) are fully applied, the Shareholder agrees to pay all amounts due under this paragraph to the Corporation in weekly installments as additional rent under the proprietary leaseinstallments. The determination of whether the Work is completed shall be made by the Corporation, and the Corporation's Corporations determination shall be conclusive. The Shareholder agrees that any consent by the Corporation to perform Work after the Completion Date may be revoked by the Corporation immediately if the Shareholder fails to comply with any requirement of this Agreement or extension of the Completion Date date. At the completion of the Work, the Shareholder will deliver to the Corporation an amended certificate of occupancy and only reinstated a certificate of the Board of Fire Underwriters, if either be required, all required sign‐ offs from the New York City Department of Buildings and such other proof as may be necessary to indicated that all Work has been done in accordance with all applicable laws, ordinances and government regulations, together with a statement from the architect or engineer who signed the Shareholder’s Plans that the work has been executed in accordance with those Plans. The determination of the Corporation’s sole and absolute discretion. Notwithstanding anything contained herein Designated Engineer as to the contrary, the Corporation may in its sole and absolute discretion may, upon written request need for an amended Certificate of Shareholder, waive or lessen the liquidated damages or extend the time periods set forth in this paragraph 11Occupancy shall be conclusive.

Completion of Work. The Shareholder shall use the Shareholder's best efforts to ensure that the Work is completed expeditiously, but in any event all Work shall be completed within an aggregate of 180 calendar days from the date of commencement of the Work, or such other period as the Corporation, in writing, designates (the “Completion Date”). Commencement of Work shall be defined as the first day when Contractor is present at the Building and/or materials are delivered to the Unit. Within such time period, Shareholder Xxxxxxxxxxx agrees that, absent written consent by the Corporation otherwise, all demolition shall occur at the commencement of the Work and shall not exceed twenty (20) days. The Corporation expresses no opinion regarding the feasibility of completion of the Work within this time period. No Work other than decorative work, such as painting, wallpapering or carpeting, may be continued beyond the Completion Date without the Corporation's specific written consent. If the Work shall not have been completed by the Completion Date, the Corporation shall be entitled to apply, from the security funds provided pursuant to paragraph 1(b) of this Alteration Agreement, the sum of $250.00 per day for each calendar day that the Work remains incomplete. These amounts are acknowledged to be liquidated damages, and not a penalty, to compensate the Corporation and the Corporation's shareholders for the costs and inconvenience of the continuation of the Work, it being understood that the damages caused by continuation of the Work would be difficult to determine. The Corporation's application of the security funds provided pursuant to paragraph 1(b) of this Agreement as aforesaid shall be without prejudice and in addition to all other remedies the Corporation may have. If the security funds provided pursuant to paragraph 1(b) are fully applied, the Shareholder agrees to pay all amounts due under this paragraph to the Corporation in weekly installments as additional rent under the proprietary lease. The determination of whether the Work is completed shall be made by the Corporation, and the Corporation's determination shall be conclusive. The Shareholder agrees that any consent by the Corporation to perform Work after the Completion Date may be revoked by the Corporation immediately if the Shareholder fails to comply with any requirement of this Agreement or extension of the Completion Date and only reinstated in the Corporation’s sole and absolute discretion. Notwithstanding anything contained herein to the contrary, the Corporation may in its sole and absolute discretion may, upon written request of Shareholder, waive or lessen the liquidated damages or extend the time periods set forth in this paragraph 11.

Completion of Work. The Shareholder shall use the Shareholder's ’s best efforts to ensure that the Work is completed expeditiously, but in any event all Work shall be completed within an aggregate of 180 calendar working days from the date of commencement of the Work, or such other period as the CorporationBoard of Directors, in writing, designates (the “Completion Date”). Commencement of Work shall be defined as the first day when Contractor is present at the Building and/or materials are delivered to the Unit. Within such time period, Shareholder agrees that, absent written consent by the Corporation otherwise, all demolition shall occur at the commencement of the Work and shall not exceed twenty (20) days. The Cooperative Corporation expresses no opinion regarding the feasibility of completion of the Work within this time period. No Work other than decorative work, such as painting, wallpapering or carpeting, may be continued beyond the Completion Date without the Corporation's Board of Directors specific written consent. If the Work shall not have been completed by the Completion Date, the Cooperative Corporation shall be entitled to apply, from the security funds provided pursuant to paragraph 1(b) of this Alteration Agreement, the sum of $250.00 100.00 per day for each calendar day that the Work remains incomplete. These amounts are acknowledged to be liquidated damages, and not a penalty, to compensate the Cooperative Corporation and the Cooperative Corporation's shareholders ’s Shareholders for the costs and inconvenience of the continuation of the Work, it being understood that the damages caused by continuation of the Work would be difficult to determine. The Cooperative Corporation's ’s application of the security funds provided pursuant to paragraph 1(b) of this Agreement as aforesaid shall be without prejudice and in addition to all other remedies the Corporation may have. If the security funds provided pursuant to paragraph 1(b) are fully applied, the Shareholder agrees to pay all amounts due under this paragraph to the Cooperative Corporation in weekly installments as additional rent under the proprietary leaseinstallments. The determination of whether the Work is completed shall be made by the CorporationBoard of Directors, and the Corporation's Board of Directors determination shall be conclusive. The Shareholder agrees that any consent by the Corporation Board of Directors to perform Work after the Completion Date may be revoked by the Corporation Board of Directors immediately if the Shareholder fails to comply with any requirement of this Agreement or extension of the Completion Date and only reinstated in the Corporation’s sole and absolute discretion. Notwithstanding anything contained herein to the contrary, the Corporation may in its sole and absolute discretion may, upon written request of Shareholder, waive or lessen the liquidated damages or extend the time periods set forth in this paragraph 11Date.

Completion of Work. The Shareholder shall use the Shareholder's best efforts to ensure that the Work is completed expeditiously, but in any event all Work shall be completed within an aggregate of 180 calendar days from the date of commencement of the Work, or such other period as the Corporation, in writing, designates (the “Completion Date”). Commencement of Work shall be defined as the first day when Contractor is present at the Building and/or materials are delivered to the Unit. Within such time period, Shareholder agrees that, absent written consent by the Corporation otherwise, all demolition shall occur at the commencement of the Work and shall not exceed twenty (20) days. The Corporation expresses no opinion regarding the feasibility of completion of the Work within this time period. No Work other than decorative work, such as painting, wallpapering or carpeting, may be continued beyond the Completion Date without the Corporation's specific written consent. If the Work shall not have been completed by the Completion Date, the Corporation shall be entitled to apply, from the security funds provided pursuant to paragraph 1(b) of this Alteration Agreement, the sum of $250.00 200.00 per day for each calendar day that the Work remains incomplete. These amounts are acknowledged to be liquidated damages, and not a penalty, to compensate the Corporation and the Corporation's shareholders for the costs and inconvenience of the continuation of the Work, it being understood that the damages caused by continuation of the Work would be difficult to determine. The Corporation's application of the security funds provided pursuant to paragraph 1(b) of this Agreement as aforesaid shall be without prejudice and in addition to all other remedies the Corporation may have. If the security funds provided pursuant to paragraph 1(b) are fully applied, the Shareholder agrees to pay all amounts due under this paragraph to the Corporation in weekly installments as additional rent under the proprietary leaseinstallments. The determination of whether the Work is completed shall be made by the Corporation, and the Corporation's determination shall be conclusive. The Shareholder agrees that any consent by the Corporation to perform Work after the Completion Date may be revoked by the Corporation immediately if the Shareholder fails to comply with any requirement of this Agreement or extension of the Completion Date and only reinstated in the Corporation’s sole and absolute discretion. Notwithstanding anything contained herein to the contrary, the Corporation may in its sole and absolute discretion may, upon written request of Shareholder, waive or lessen the liquidated damages or extend the time periods set forth in this paragraph 11Date.

Completion of Work. The Shareholder shall use Trade Contractor agrees to prosecute the Shareholder's best efforts work to ensure be performed hereunder in such manner as to cause no delay to the Contractor or other Trade Contractors on the project. Should the Trade Contractor fail to provide sufficient materials, equipment, or workmen to meet work schedules, become insolvent or unable to perform, refuse to follow the plans, specifications and scope of work or in anyway fail to act in accordance with the terms hereof, and in doing so cause delay or expense to the Contractor or other parties, it is agreed that the Work Contractor shall have the right to: Withhold payments on account of labor and material already furnished until such time as satisfactory progress is completed expeditiouslyresumed and maintained; Terminate this contract in accordance with applicable provisions of the Contract documents after three (3) days written notice given the Trade Contractor in person or by registered mail at his last known address; Upon two (2) days written notice given to the Trade Contractor in person or at his last known address, but hire additional workmen, purchase materials, rent equipment or employ others to perform such portions of the work under this agreement and for the account of the Trade Contractor, and at the expense of said Trade Contractor without terminating this agreement. Any such action shall be taken only when in the opinion of the Contractor, such action is required to protect the Contractor’s interest and/or the interests of any others involved by maintaining a satisfactory rate of progress on the project. Any such action shall not in any event all Work shall be completed within an aggregate of 180 calendar days way void the Contractor’s right to recover damages from the date Trade Contractor for delay or mal-performance or recourse for the recovery of commencement damages otherwise provided for. Satisfactory progress is understood to mean a degree of progress, which will enable the Contractor and other Trade Contractors to meet required work schedules, and ultimate completion dates. The Trade Contractor further agrees to perform all work under this contract in accordance with scope of work; to execute all work in such a manner as not to delay the work of the Work, Contractor or such any other period as Trade Contractors in the Corporation, in writing, designates (the “Completion Date”). Commencement of Work shall be defined as the first day when Contractor is present at the Building and/or materials are delivered to the Unit. Within such time period, Shareholder agrees that, absent written consent by the Corporation otherwise, all demolition shall occur at the commencement general process of the Work whole work of which this contract forms a part, and shall not exceed twenty (20) days. The Corporation expresses no opinion regarding the feasibility of completion of the Work within this time period. No Work other than decorative work, such as painting, wallpapering or carpeting, may be continued beyond the Completion Date without the Corporation's specific written consent. If the Work shall not have been completed by the Completion Date, the Corporation shall be entitled to apply, from the security funds provided pursuant to paragraph 1(b) of this Alteration Agreement, the sum of $250.00 per day for each calendar day that the Work remains incomplete. These amounts are acknowledged to be liquidated damages, and not a penalty, to compensate the Corporation and the Corporation's shareholders responsible for the costs and inconvenience of the continuation of the Work, it being understood that the damages caused by continuation of the Work would be difficult to determine. The Corporation's application of the security funds provided pursuant to paragraph 1(b) of this Agreement as aforesaid shall be without prejudice and in addition to all other remedies the Corporation may have. If the security funds provided pursuant to paragraph 1(b) are fully applied, the Shareholder agrees to pay all amounts due under this paragraph to the Corporation in weekly installments as additional rent under the proprietary lease. The determination of whether the Work is completed shall be made by the Corporation, and the Corporation's determination shall be conclusive. The Shareholder agrees that any consent by the Corporation to perform Work after the Completion Date may be revoked by the Corporation immediately if the Shareholder fails to comply with any requirement of this Agreement or extension of the Completion Date and only reinstated in the Corporation’s sole and absolute discretion. Notwithstanding anything contained herein to the contrary, the Corporation may in its sole and absolute discretion may, upon written request of Shareholder, waive or lessen the liquidated damages or extend actual damages assessed under terms of contract specifications which are attributable to work under this Trade Contractor Agreement. The Trade Contractor expressly agrees to accept and to abide by the time periods set forth above clauses and further agrees that termination of contract shall not be made the basis of any legal action against the Contractor to secure additional compensation or damages. Trade Contractor further agrees that in the event it becomes necessary to invoke this paragraph 11clause, or the Trade Contractor defaults on or abandons his work that none of Trade Contractor’s materials, temporary facilities, tools, or equipment shall be removed, but shall remain for the Contractor’s use in completing work under this contract. The Contractor shall not be liable for any rent or other expense incurred in the use of Trade Contractor’s materials, temporary facilities, tools or equipment in order to complete this contract.

Completion of Work. The Shareholder shall use the Shareholder's best efforts to ensure that the Work is completed expeditiously, but in any event all Work shall be completed within an aggregate of 180 calendar days from the date of commencement of the Work, or such other period as the Corporation, in writing, designates (the “Completion Date”). Commencement of Work shall be defined as the first day when Contractor is present at the Building and/or materials are delivered to the Unit. Within such time period, Shareholder agrees that, absent written consent by the Corporation otherwise, all demolition shall occur at the commencement of the Work and shall not exceed twenty (20) days. The Corporation expresses no opinion regarding the feasibility of completion of the Work within this time period. No Work other than decorative work, such as painting, wallpapering or carpeting, may be continued beyond the Completion Date without the Corporation's specific written consent. If the Work shall not have been completed by the Completion Date, the Corporation shall be entitled to apply, from the security funds provided pursuant to paragraph 1(b) of this Alteration Agreement, the sum of $250.00 per day for each calendar day that the Work remains incomplete. These amounts are acknowledged to be liquidated damages, and not a penalty, to compensate the Corporation and the Corporation's shareholders for the costs and inconvenience of the continuation of the Work, it being understood that the damages caused by continuation of the Work would be difficult to determine. The Corporation's application of the security funds provided pursuant to paragraph 1(b) of this Agreement as aforesaid shall be without prejudice and in addition to all other remedies the Corporation may have. If the security funds provided pursuant to paragraph 1(b) are fully applied, the Shareholder agrees to pay all amounts due under this paragraph to the Corporation in weekly installments as additional rent under the proprietary leaseinstallments. The determination of whether the Work is completed shall be made by the Corporation, and the Corporation's determination shall be conclusive. The Shareholder agrees that any consent by the Corporation to perform Work after the Completion Date may be revoked by the Corporation immediately if the Shareholder fails to comply with any requirement of this Agreement or extension of the Completion Date and only reinstated in the Corporation’s sole and absolute discretion. Notwithstanding anything contained herein to the contrary, the Corporation may in its sole and absolute discretion may, upon written request of Shareholder, waive or lessen the liquidated damages or extend the time periods set forth in this paragraph 11Date.

Completion of Work. a. The Shareholder shall use the Shareholder's all best efforts to ensure that the Work is completed expeditiouslyexpeditiously but, but in any event all event, the Work shall be completed on or before the Projected Completion Date (referred to in Exhibit B as the “Projected Completion Date”), and the demolition phase of the Work shall be completed within an aggregate of 180 calendar days from the date of commencement of the Work, or such other period as the Corporation, in writing, designates ten (the “Completion Date”). Commencement of Work shall be defined as the first day when Contractor is present at the Building and/or materials are delivered to the Unit. Within such time period, Shareholder agrees that, absent written consent by the Corporation otherwise, all demolition shall occur at the commencement of the Work and shall not exceed twenty (2010) consecutive working days. The Corporation expresses ex- presses no opinion regarding the feasibility of completion of the Work within this the required time periodperiods. No Work Work, other than decorative work, such as painting, wallpapering or carpeting, may be continued beyond the Projected Completion Date without the Corporation's specific written consent. If the Work shall not have been completed by the Completion Date, the The Corporation shall be entitled to applydetermine, from the security funds provided pursuant to paragraph 1(b) of this Alteration Agreement, the sum of $250.00 per day for each calendar day that the Work remains incomplete. These amounts are acknowledged to be liquidated damages, and not a penalty, to compensate the Corporation and the Corporation's shareholders for the costs and inconvenience of the continuation of the Work, it being understood that the damages caused by continuation of the Work would be difficult to determine. The Corporation's application of the security funds provided pursuant to paragraph 1(b) of this Agreement as aforesaid shall be without prejudice and in addition to all other remedies the Corporation may have. If the security funds provided pursuant to paragraph 1(b) are fully applied, the Shareholder agrees to pay all amounts due under this paragraph to the Corporation in weekly installments as additional rent under the proprietary lease. The determination of whether the Work is completed shall be made by the Corporation, and the Corporation's determination shall be conclusive. The Shareholder agrees that any consent by the Corporation to perform Work after the Completion Date may be revoked by the Corporation immediately if the Shareholder fails to comply with any requirement of this Agreement or extension of the Completion Date and only reinstated in the Corporation’s sole and absolute discretion. Notwithstanding anything contained herein to the contrary, the Corporation may in its sole and absolute discretion maydiscretion, upon whether an item of Work falls within this Agreement and therefore must be completed on or before the Projected Completion Date or constitutes decoration, which may occur after the Projected Completion Date. The Work may not be continued beyond the Projected Completion Date, and the access to the Building shall be denied to contractors, unless a written request of Shareholder, waive or lessen extension is obtained from the liquidated damages or Corporation in advance thereof. It is understood and agreed that (i) the Corporation has no obligation to extend the Projected Completion Date at all, and (ii) an order to stop the Work, if any, issued by the Corporation under this Agreement, does not extend the Projected Completion Date. If an extension of the Commencement Date (referred to in Exhibit B as the “Commencement Date”) is obtained from the Corporation, the Work may continue through the extended completion date. The Corporation has determined that one hundred eighty (180) construction days, including ten (10) demolition days, constitute a reasonable period of time periods set forth in this paragraph 11.to complete the remodeling of one's apartment and, hence, has imposed fees payable to the Corporation whenever demolition continues beyond ten (10) consecutive days or construction continues beyond one hundred eighty (180) days. The Shareholder acknowledges that the Work constitutes a substantial imposition on other shareholders by reason of extensive noise, dirt, use of elevators and stairwells, interference with electrical and other services, the provision by Royal Summit of extensive xxxxxx and cleaning services and delivery and other trucks which double park and block entrances. Accordingly, and regardless of the Projected Completion Date, the Shareholder shall pay to the Corporation a per diem fee of $150 for each day the Work continues beyond one hundred eighty (180) days from the Commencement Date through the two hundred tenth (210th) day of Work, a per diem fee of $300 for each day the Work continues beyond two hundred tenth (210th) days from the Commencement Date through the two hundred fortieth (240th) day of Work, and a per diem fee of $500 for each day that the Work continues beyond two hundred forty (240) days from the Commencement Date through the Projected Completion Date. These fees continue to accrue whether or not an order to stop the Work is issued by the Corporation hereunder. The Shareholder shall

Completion of Work. The Shareholder Unit Owner shall use the ShareholderUnit Owner's best efforts to ensure that the Work is completed expeditiously, but in any event all Work shall be completed within an aggregate of 180 calendar days from the date of commencement of the Work, or such other period as the CorporationCondominium, in writing, designates (the “Completion Date”). Commencement of Work shall be defined as the first day when Contractor is present at the Building and/or materials are delivered to the Unit. Within such time period, Shareholder agrees that, absent written consent by the Corporation otherwise, all demolition shall occur at the commencement of the Work and shall not exceed twenty (20) days. The Corporation Condominium expresses no opinion regarding the feasibility of completion of the Work within this time period. No Work other than decorative work, such as painting, wallpapering or carpeting, may be continued beyond the Completion Date without the Corporation's specific written consent. If the Work shall not have been completed by the Completion Date, the Corporation Condominium shall be entitled to apply, from the security funds provided pursuant to paragraph 1(b) of this Alteration Agreement, the sum of $250.00 500.00 per day week for each calendar day that week the Work remains incomplete. These amounts are acknowledged to be liquidated damages, and not a penalty, to compensate the Corporation Condominium and the CorporationCondominium's shareholders Unit Owners for the costs and inconvenience of the continuation of the Work, it being understood that the damages caused by continuation of the Work would be difficult to determine. The CorporationCondominium's application of the security funds provided pursuant to paragraph 1(b) of this Agreement as aforesaid shall be without prejudice and in addition to all other remedies the Corporation Condominium may have. If the security funds provided pursuant to paragraph 1(b) are fully applied, the Shareholder Unit Owner agrees to pay all amounts due under this paragraph to the Corporation Condominium in weekly installments as additional rent under the proprietary leaseinstallments. The determination of whether the Work is completed shall be made by the CorporationCondominium, and the CorporationCondominium's determination shall be conclusive. The Shareholder Unit Owner agrees that any consent by the Corporation Condominium to perform Work after the Completion Date may be revoked by the Corporation Condominium immediately if the Shareholder Unit Owner fails to comply with any requirement of this Agreement or extension of the Completion Date and only reinstated in the Corporation’s sole and absolute discretion. Notwithstanding anything contained herein to the contrary, the Corporation may in its sole and absolute discretion may, upon written request of Shareholder, waive or lessen the liquidated damages or extend the time periods set forth in this paragraph 11Date.

Completion of Work. The Shareholder Unit Owner shall use the Shareholder's Unit Owner’s best efforts to ensure that the Work is completed expeditiously, but in any event all Work shall be completed within an aggregate of 180 calendar days 150 work days, or such other period approved by the Condominium in writing, from the date of commencement of the Work, or such other period as the Corporation, in writing, designates Work (the “Completion Date”). Commencement of Work shall be defined , as the first day when Contractor is present at the Building and/or materials are delivered to the Unit. Within such time period, Shareholder agrees that, absent written consent evidenced by the Corporation otherwise, all demolition shall occur at written notification of approval from the commencement of the Work and shall not exceed twenty (20) daysCondominium. The Corporation Condominium expresses no opinion regarding the feasibility of completion of the Work within this time period. No Work other than decorative work, such as painting, wallpapering or carpeting, may be continued beyond the Completion Date without the Corporation's specific written consent. If the Work shall not have been completed by the Completion DateDate or upon any other breach hereunder, the Corporation Condominium shall be (a) permitted to stop all work, (b) revoke its consent to the Work, (c) cause to be withdrawn any permits for the Work; and (d) entitled to apply, from the security funds provided pursuant to paragraph 1(b) of this Alteration Agreement, the sum of $250.00 500 per work day up to 30 days and $1000 for each calendar work day thereafter that the Work remains incomplete. These amounts are acknowledged to be liquidated damages, and not a penalty, to compensate the Corporation Condominium and the Corporation's shareholders Condominium’s Unit Owners for the costs and inconvenience of the continuation of the Work, it being understood that the damages caused by continuation of the Work would be difficult to determine. The Corporation's Condominium’s application of the security funds provided pursuant to paragraph 1(b) of this Agreement as aforesaid shall be without prejudice and in addition to all other remedies the Corporation Condominium may have. If the security funds provided pursuant to paragraph 1(b1(c) are fully applied, the Shareholder Unit Owner agrees to pay an amount equal to the amount(s) so applied upon demand and to pay all amounts amount(s) due under this paragraph to the Corporation Condominium within seven (7) days of demand. Any unpaid sums will remain on the Unit Owner’s account until paid in weekly installments as full. Any unpaid amounts shall be deemed additional rent under the proprietary lease. The determination of whether the Work is completed shall be made by the Corporation, and the Corporation's determination shall be conclusive. The Shareholder agrees that any consent by the Corporation to perform Work after the Completion Date may be revoked by the Corporation immediately if the Shareholder fails to comply with any requirement of this Agreement or extension terms of the Completion Date and only reinstated in the Corporation’s sole and absolute discretion. Notwithstanding anything contained herein to the contrary, the Corporation may in its sole and absolute discretion may, upon written request of Shareholder, waive or lessen the liquidated damages or extend the time periods set forth in this paragraph 11By-laws.