Common use of DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION Clause in Contracts

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1. The date of commencement is the date from which the Contract Time of Paraqraph 4.2 is measured; it shall be the date of this Agreement, as first written above, unless a different date is stated below or provision is made for the date to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute the work and achieve Substantial Completion of the entire Work by September 15, 2013, subject to adjustments of this Contract Time as provided in the Contract Documents Attached hereto as Exhibit D is the Construction Sched uIe for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will be extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the Owner will incur as a result of delayed Substantial Completion of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein from any unpaid amounts then or thereafter due the Contractor under the is Agreement. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable to the Owner at the demand of the Owner, together with interest from the date of the demand at a rate equal to the lower of the twelve percent (12%) per annum or the highest lawful rate of interest payable by the Contractor.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion Work, no later than ninety (90) calendar days from the date of the entire Work by September 15, 2013commencement, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of five hundred dollars ($500.00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion Work, no later than July 14, 2017 from the date of the entire Work by September 15, 2013commencement, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of five hundreddollars ($500.00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion Work, no later than thirty nine ( 39 ) calendar days from the date of the entire Work by September 15, 2013commencement, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of two thousand five hundred_dollars ($2,500_.00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion of the entire Work by September 15Work, 2013no later than December 3, 2018, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of five hundreddollars ($500.00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion of the entire Work by September 15Work, 2013no later than August 1 2018, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of _five hundred_dollars ($500.00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion of the entire Work by September 15Work, 2013no later than May 25, 2018, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of five hundred dollars ($500.00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion Work, no later than ( ) calendar days from the date of the entire Work by September 15, 2013commencement, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of dollars ($ .00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion Work, no later than ninety (90 ) calendar days from the date of the entire Work by September 15, 2013commencement, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of two thousanddollars ($2,000.00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1. § 3.1 The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless a different date is stated below or provision is made for the date to be fixed in a notice to proceed issued by the Owner to the Contractor which (Paragraphs deleted) § 3.2 The Contract Time shall be issued no less than five (5) days prior to the Date of Commencement. Unless measured from the date of commencement is established by a notice to proceed issued by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interestscommencement. 4.2. § 3.3 The Contractor shall diligently prosecute the work and achieve Substantial Completion of the entire Work by September 15not later than ninety ( 90 ) days from the date of commencement, 2013or as follows: N/A N/A , subject to adjustments of this Contract Time as provided in the Contract Documents Attached hereto as Exhibit D Documents. In the event Substantial Completion is the Construction Sched uIe for the Work. The Contractor covenants to abide not achieved by the Construction Schedule. The Contractor acknowledges and recognizes that date specified above except as result only of delays for which the Owner and/or is chargeable under the tenants Contract Documents (e.g., section 8.3 of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration AIA Document A201-2007, General Conditions of the Contract Time. The for Construction, as modified.) or from Unavoidable Delay, Contractor further acknowledges and agrees that if Owner shall have the right to deduct from any sums due to Contractor fails to complete substantially or cause hereunder the sum of five thousand dollars ($5,000.00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may commence to make such deductions prior to the scheduled date of any portion of the Work with Substantial completion in the Contract Time, the event Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the Work. The exact event the remaining amount of such funds due hereunder is less than the amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages will for the failure of Substantial Completion would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein from any unpaid amounts then or thereafter due the Contractor under the is Agreement. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable to the Owner at the demand of the Owner, together with interest from the date of the demand at a rate equal to the lower of the twelve percent (12%) per annum or the highest lawful rate of interest payable by the Contractor.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion Work, no later than thirty (30 ) calendar days from the date of the entire Work by September 15, 2013commencement, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of Two Thousand, five hundred_dollars ($2,500.00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion Work, no later than ninety (90 ) calendar days from the date of the entire Work by September 15, 2013commencement, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of _five thousand_dollars ($5,000.00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion Work, no later than sixty ( 60 ) calendar days from the date of the entire Work by September 15, 2013commencement, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of dollars ($ .00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion Work, no later than January 16, 2017.) calendar days from the date of the entire Work by September 15, 2013commencement, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of fifteen hundreddollars ($1500.00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion Work, no later than ninety (90) calendar days from the date of the entire Work by September 15, 2013commencement, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of two thousanddollars ($2,000.00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.

DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 4.1The number of calendar days available to the Contractor to substantially complete the Work is the Contract Time. The date of commencement is of the date from which the Contract Time of Paraqraph 4.2 is measured; it Work shall be the date of this Agreement, as first written above, unless the issuance of a different date is stated below or provision is made for the date Purchase Order and Notice to be fixed in a notice to proceed issued by the Owner to the Contractor which shall be issued no less than five (5) days prior to the Date of Commencement. Unless the date of commencement is established by a notice to proceed issued Proceed by the Owner, the Contractor shall notify the Owner in writing not less than five days before commencing the Work to permit the timely filing of mortgages, mechanic's liens and other security interests. 4.2. The Contractor shall diligently prosecute substantially complete the work and achieve Substantial Completion Work, no later than ninety90 from the date of the entire Work by September 15, 2013commencement, subject to adjustments of this Contract Time adjustment as provided in Article 10 and Article 11. The Purchase Order constitutes the Notice to Proceed. In the event Substantial Completion is not achieved by the date specified above except as result only from delays for which the Owner is chargeable under the Contract Documents Attached hereto as Exhibit D or from Unavoidable Delay, Contractor agrees that Owner shall have the right to deduct from any sums due to Contractor hereunder the sum of five hundreddollars ($500.00) for each day that Substantial Completion is actually delayed, provided, however that (i) Owner may make such deductions prior to the Construction Sched uIe scheduled date of Substantial Completion in the event Owner reasonably projects that the Project will not be completed on the scheduled date of Substantial Completion and (ii) Contractor shall pay to Owner in cash any amounts which Owner is entitled to deduct in the event the remaining amount of funds due Contractor hereunder is less than the remaining amounts Owner has the right to deduct. Owner and Contractor agree and acknowledge that (i) Owner’s actual damages for the Work. The Contractor covenants to abide by the Construction Schedule. The Contractor acknowledges and recognizes that the Owner and/or the tenants failure of Owner are entitled to fuII and beneficial occupancy and use of the Project and the completed Work following expiration of the Contract Time. The Contractor further acknowledges and agrees that if the Contractor fails to complete substantially or cause the Substantial Completion of any portion of the Work with in the Contract Time, the Owner will sustain additional extensive damages, expenses, losses and other economic harm as a result thereof, which may include, without limitation, the loss of rent, the costs of arranging for substitute occupancy and the continued administrative expenses of the Project and the Work. The exact amount of such damages will would be substantial but extremely difficult to ascertain. If the Contractor fails to achieve Substantial Completion ascertain and (ii) such sum represents a fair and reasonable estimate of the Work within the Contract Time, the Owner shall be entitled to retain or recover from the Contractor, as liquidated damages and not as a penalty, pursuant to California, Civil Code Section 1671, the sum of $19,000 per week, commencing on the first day following expiration of the Contract Time and continuing until the actual Date of Substantial Completion, regardless of whether or not the Owner's actual damages are more or less than such liquidated sum. Such liquidated damages are hereby agreed to be a reasonable pre-estimate of damages the costs Owner will incur as a result of delayed Substantial Completion such late achievement of the Work. The Owner's rights to certain liquidated damages as provided above shall not limit Owner's rights against the Contractor for any damages claimed by third parties arising out of the Contractor's delay in achieving Substantial Completion. The Owner may deduct liquidated damages described herein "Unavoidable Delays" means delays due to any of the following, and only the following, (provided that such delay is beyond Contractor’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, floods, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act). In no event shall the application to Contractor or any unpaid amounts then applicable law, regulation, rule or thereafter due the Contractor under the is Agreementother governmental requirement constitute an Unavoidable Delay. Any liquidated damages not so deducted from any unpaid amounts due the Contractor shall be payable use reasonable good faith efforts to the notify Owner at the demand not later than five (5) days after Contractor knows of the Owneroccurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for a period of the Unavoidable Delay, together with interest which period shall commence to run from the date time of the demand at a rate equal to the lower commencement of the twelve percent (12%) per annum or cause of the highest lawful rate of interest payable by the ContractorUnavoidable Delay.