Common use of SCHEDULE, TIME OF COMMENCEMENT AND SUBSTANTIAL COMPLETION Clause in Contracts

SCHEDULE, TIME OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 6.1 At the time a Guaranteed Maximum Price (GMP) is established in the Project Agreement, a project substantial completion date, a project final completion date and an Owner Occupancy date for completion of the project in accordance with the master project schedule, shall also be established by the Construction Team. Contractor agrees to complete the construction in accordance with the agreed upon substantial completion date, final completion date and owner occupancy date. Contractor acknowledges that failure to complete the project within the construction time set forth in the approved schedule will result in substantial damages to the Owner. Failure to complete the work on time. It is mutually agreed by and between parties hereto that time shall be an essential part of this contract, and that in case of the failure on the part of the Contractor to achieve contractually schedule completion of the milestones established in the Contractor’s project schedule within the time specified and agreed upon, the Owner will be damaged thereby; and the amount of said damages, inclusive of expensed for inspection, Architect’s additional fees, as well as additional personnel superintendence, and necessary traveling expenses, being difficult if not impossible of definite sum set forth below in the Schedule of Liquidated Damages as liquidated damages for every calendar day delay in finishing the work in excess of the number of calendar days prescribed; and the Contractor hereby agrees that said sum shall be deducted from monies due Contractor hereby agrees to pay to the Owner as liquidated damages and not by way of penalty, such total sum as shall be due for such duly computed aforesaid. Liquidated Damages: Less than $2,500,000 $500 per day Between $2,500,000 and $10,000,000 $1,000 per day Between $10,000,000 and $20,000,000 $2,500 per day Over $20,000,000 $5,000 per day Liquidated damages daily rates after Substantial Completion are at 25% of the daily rate prior to Substantial Completion. Warranties called for by this Agreement or by the drawings and specifications shall begin on the date of owner occupancy of the project as set forth in the Project Agreement.

SCHEDULE, TIME OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 6.1 Project Substantial Completion Date, Project Final Completion Date & Owner Occupancy Date 6.1.1 At the time a Guaranteed Maximum Price (GMP) is established in of the Project Agreementexecution of the GMP Amendment, a project duration shall be determined and established. 6.1.2 A Project substantial completion date, a project Project final completion date and an Owner Occupancy date for completion of the project Project in accordance with the master project Project schedule, shall also be established by the Construction TeamTeam and included in the GMP Amendment, and confirmed in the Notice to Proceed. Contractor The Construction Manager agrees to complete the construction in accordance with the agreed upon substantial completion date, final completion date and owner occupancy Owner Occupancy date. Contractor , subject to extensions as set forth herein. 6.1.3 The CM acknowledges that failure to complete the project be at Substantial Completion within the construction time set forth outlined in the approved schedule Article 2 will result in substantial damages to the Owner. Failure Inasmuch as failure to complete the work on time. It is mutually agreed by and between parties hereto that time shall be an essential part of this contract, and that in case of the failure on the part of the Contractor to achieve contractually schedule completion of the milestones established in the Contractor’s project schedule within the time specified fixed above will result in substantial injury to the Owner, and as damages arising from such failure cannot be calculated with any degree of certainty, it is hereby agreed uponthat if the Project is not at Substantial Completion, according to the definition hereinabove, or within such further time, if any, as in accordance with the provisions of the Contract Documents shall be allowed for such Substantial Completion, the CM shall pay to Owner will be damaged thereby; and the amount of said damages, inclusive of expensed for inspection, Architect’s additional fees, as well as additional personnel superintendence, and necessary traveling expenses, being difficult if not impossible of definite sum set forth below in the Schedule of Liquidated Damages as liquidated damages for such delay, and not as a penalty, an amount to be decided for each project and shall be set forth in each Notice to Proceed, per day for each and every calendar day delay day, thereafter, elapsing between the date fixed for substantial completion above and the date such substantial completion shall have been fully accomplished. It is also hereby agreed that if the Project is not at Final Completion, in finishing accordance with the work in excess requirements of the number of calendar days prescribed; and Contract Documents, the Contractor hereby agrees that said sum CM shall be deducted from monies due Contractor hereby agrees to pay to the Owner as liquidated damages for such delay, and not by way of as a penalty, such total sum as one-fourth of the liquidated damages rate indicated above. Said liquidated damages shall be due for such duly computed aforesaid. Liquidated Damages: Less than $2,500,000 $500 per day Between $2,500,000 payable in addition to any excess expenses or costs payable by the CM to the Owner under the provisions herein and $10,000,000 $1,000 per day Between $10,000,000 and $20,000,000 $2,500 per day Over $20,000,000 $5,000 per day Liquidated shall not exclude the recovery of damages daily rates after Substantial Completion are at 25% by the Owner under other provisions of the daily rate prior Contract Documents, except for CM’s delay. This provision of liquidated damages for delay shall in no manner affect the Owner's right to Substantial Completionterminate the contract as provided herein or elsewhere in the Contract Documents. Warranties called for by this Agreement or The Owner's exercise of the right to terminate shall not release the CM from his obligation to pay said liquidated damages in the amounts set out above. The amount of the final payment to the CM shall be reduced by the drawings and specifications amount of liquidated damages assessed under this contract. It is further agreed that the Owner shall begin on deduct from the date of owner occupancy of balance retained by the project Owner, under the provisions above, the liquidated damages stipulated therein for delay or termination or such portions thereof as set forth in the Project Agreementsaid retained balance will cover.

SCHEDULE, TIME OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 6.1 At the time a Guaranteed Maximum Price (GMP) is established in the Project Agreement, a project substantial completion date, a project final completion date and an Owner Occupancy date for completion of the project in accordance with the master project schedule, shall also be established by the Construction Team. Contractor agrees to complete the construction in accordance with the agreed upon substantial completion date, final completion date and owner occupancy date. Contractor acknowledges that failure to complete the project within the construction time set forth in the approved schedule will result in substantial damages to the Owner. Failure to complete the work on time. It is mutually agreed by and between parties hereto that time shall be an essential part of this contract, and that in case of the failure on the part of the Contractor to achieve contractually schedule completion of the substantial milestones established in the Contractor’s project schedule within the time specified and agreed upon, which may be amended by Change Order, the Owner will be damaged thereby; and the amount of said damages, inclusive of expensed for inspection, Architect’s additional fees, as well as additional personnel superintendence, and necessary traveling expenses, being difficult if not impossible of definite sum set forth below in the Schedule of Liquidated Damages as liquidated damages for every calendar day delay in finishing the work in excess of the number of calendar days prescribed; and the Contractor hereby agrees that said sum shall be deducted from monies due Contractor hereby agrees to pay to the Owner as liquidated damages and not by way of penalty, such total sum as shall be due for such duly computed aforesaid. Liquidated Damages: Less than $2,500,000 $500 per day Between $2,500,000 and $10,000,000 $1,000 per day Between $10,000,000 and $20,000,000 $2,500 per day Over $20,000,000 $5,000 per day Liquidated damages daily rates after Substantial Completion are at 25% of the daily rate prior to Substantial Completion. Warranties called for by this Agreement or by the drawings and specifications shall begin on the date of owner occupancy of the project as set forth in the Project Agreement.

SCHEDULE, TIME OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. 6.1 At the time a the Guaranteed Maximum Price (GMP) is established established, as provided for in the Project AgreementArticle 7, a project Project substantial completion date, which shall be September 1, 2021, a project Project final completion date and an Owner Occupancy date for completion of the project Project in accordance with the master project scheduleProject schedule and in substantial compliance with Exhibit B and for occupancy by the Owner, shall also be established by the Construction Team. The Contractor agrees to complete the construction in accordance with within the agreed upon substantial completion date, final completion date and owner occupancy date. The Contractor acknowledges that failure to complete the project Project within the construction time set forth in the approved schedule will result in substantial damages to the Owner. Failure to complete the work on time. It is mutually agreed by and between parties hereto that time The Contractor shall be an essential part of this contract, and that in case of the failure on the part of the Contractor to achieve contractually schedule completion of the milestones established assessed liquidated damages in the Contractor’s project schedule within amount of $1000.00, per calendar day for each day completion is extended beyond the time specified agreed upon substantial completion date. The Owner and agreed uponContractor acknowledge and agree that (1) if the Project is not substantially complete by September 1, 2021, the Owner will suffer damages which are impossible to compute accurately at this time; (2) the Owner and Contractor have agreed on a daily liquidated damages rate as provided herein; (3) imposition of which shall be damaged therebythe sole remedy of the owner for Contractor delays in the Project (other than if the Contractor fails to comply with Grant requirements or Paragraph 2.5 above, which shall entitle Owner to xxx Contractor for all damages and claims); and (4) the amount of said damages, inclusive of expensed liquidated damages provided herein are for inspection, Architect’s additional fees, as well as additional personnel superintendencedamages incurred by the College only, and necessary traveling expenses, being difficult if are not impossible a penalty. 6.2 The date of definite sum set forth below in the Schedule of Liquidated Damages as liquidated damages for every calendar day delay in finishing the work in excess Substantial Completion of the number of calendar days prescribed; Project or a designated portion thereof is the date when construction is sufficiently complete in accordance with the Drawings and the Contractor hereby agrees that said sum shall be deducted from monies due Contractor hereby agrees to pay to Specifications so the Owner as liquidated damages and not by way of penalty, such total sum as shall be due can occupy or utilize the Project or designated portions thereof for such duly computed aforesaid. Liquidated Damages: Less than $2,500,000 $500 per day Between $2,500,000 and $10,000,000 $1,000 per day Between $10,000,000 and $20,000,000 $2,500 per day Over $20,000,000 $5,000 per day Liquidated damages daily rates after Substantial Completion are at 25% of the daily rate prior to Substantial Completionuse for which it is intended. Warranties called for by this Agreement or by the drawings Drawings and specifications Specifications shall begin commence on the Date of Substantial Completion of the Project or designated portion thereof. 6.3 Notwithstanding anything in the Agreement to the contrary, if the Contractor is delayed at any time in the commencement or progress of the Work by an act or negligence of the Owner or Architect-Engineer, or of an employee of either, or of a separate contractor employed by the Owner, or by changes ordered in the Work, or by adverse weather, including, but not limited to tropical depressions, tropical storms, or hurricanes, or by labor disputes, fire, war, terrorism, incidence of disease or other illness that reaches outbreak, epidemic, endemic and/or pandemic proportions or other causes affecting the area in which the Project is located and/or the Contractor’s labor and/or supply chain, unusual delay in deliveries, unavoidable casualties or other causes beyond the Contractor's reasonable control or responsibility hereunder, or by delay authorized by the Contract Documents, or by the Owner pending mediation and arbitration, or by other causes that the Architect determines may justify delay, and such delay extends the completion date of owner occupancy the Project, then the construction time and Substantial Completion shall be extended by Change Order for such reasonable time and amounts as arise out of or relate to such cause as the project as set forth in the Project AgreementOwner may determine.