Common use of TIME FOR COMPLETION AND LIQUIDATED DAMAGES Clause in Contracts

TIME FOR COMPLETION AND LIQUIDATED DAMAGES. 15.1 Execution of Contract by Contractor shall constitute acknowledgement by Contractor that Contractor understands, has ascertained and agrees that the County will sustain damages in the amount fixed in Contract for each and every calendar day during which completion of Work required is delayed beyond expiration of time fixed for completion or extensions of time as have been allowed pursuant to provisions hereof. Contractor and the County agree that such damages shall be presumed to be the damages sustained by Lake County as defined below, and that because of the nature of the project, it would be impracticable or extremely difficult to fix the actual damages. 15.1.1 There shall be deducted from any money due or to become due to Contractor after time for completion of entire Work and extensions of time allowed pursuant to provisions hereof, a sum representing the then accrued liquidated damages. 15.1.2 Liquidated damages shall be considered not as a penalty but as agreed monetary damage sustained by County for loss of revenue and increased project administration expenses, including extra inspection, and architectural and engineering expenses, related to this Contract because Contractor failed to perform and complete Work within time fixed for completion or extensions of time and have been allowed pursuant to provisions hereof. Liquidated damages shall not be deemed to include within their scope additional damages arising from defective work, cost of completion of the Contract, cost of substitute space, or damages suffered by others or other forms of liability claimed against the County as a result of delay (e.g., delay or delay related claims of other contractors, subcontractors or tenants), and defense costs thereof, Contractor shall be responsible for the actual amount of any such damages. 15.1.3 Should the Contractor fall behind approved Progress schedule, County reserves right to deduct liquidated damages based on an estimated period of late completion. The County need not wait until Contract completion to withhold liquidated damages from Contractor's progress payments. Should money due or to become due to Contractor be insufficient to cover agreed liquidated damages, then the Contractor forthwith shall pay remainder to County. 15.1.4 In addition to the liquidated damages set forth in the Agreement, the contractor shall pay for the additional cost charged against the Work for services rendered by the Owner's Inspector and their agents, i.e., Engineer and their consultants, when the Work exceeds the Contract Time and authorized time extensions. The extra inspection cost shall be deducted from any money due or that may become due to the Contractor under the Contract. 15.1.5 If the liquidated damages and inspection costs hereinbefore specified exceed the unpaid balance, the Contractor shall pay the difference to the Owner. 15.2 Contractor will proceed with the Work at such rate of progress to insure full completion within the Contract Time. It is expressly understood and agreed, by and between the Contractor and the Owner, that the completion of the Work described herein is a reasonable time, taking into consideration the average climatic and economic conditions and other factors prevailing in the locality of the Work. 15.3 If the Contractor shall fail to complete the Work within the Contract Time, or extension of time granted by the Owner, then the Contractor will pay to the Owner the specified amount for liquidated damages for each calendar day that the Contractor shall be in default after the time stipulated in the Contract Documents. 15.4 The Contractor shall not be charged with liquidated damages or any excess cost when the delay in completion of the Work is due to the following, and the Contractor has promptly given written notice of such delay to the Owner or Engineer. 15.4.1 To any preference, priority or allocation order duly issued by the Owner. 15.5 Since time is of the essence, the Contractor shall commence work under this Contract on or before the date to be specified in the Notice to Proceed. January 53.7 32.7 71 20 6.74 February 67.2 35.4 76 23 5.93 March 61.9 37.3 82 27 4.75 April 67.8 39.3 91 28 1.70 May 78.5 44.1 99 33 .85 June 84.8 49.9 103 37 .22 July 92.2 54.0 107 41 .05 August 91.9 52.9 108 44 .09 September 85.7 49.0 108 41 .48 October 74.9 43.3 94 31 1.48 November 60.0 36.6 83 24 4.30 December 53.5 32.8 76 23 4.81 Year 31.40 Source: NOAA, National Oceanic and Atmospheric Administration

TIME FOR COMPLETION AND LIQUIDATED DAMAGES. 15.1 Execution of Contract by Contractor shall constitute acknowledgement by Contractor that Contractor understands, has ascertained and agrees that the County will actually sustain damages in the amount fixed in Contract for each and every calendar day during which completion of Work required is delayed beyond expiration of time fixed for completion or extensions of time as have been allowed pursuant to provisions hereof. Contractor and the County agree that such damages shall be presumed to be the damages actually sustained by Lake County as defined below, and that because of the nature of the project, it would be impracticable or extremely difficult to fix the actual damages. 15.1.1 There shall be deducted from any money due or to become due to Contractor after subsequent to time for completion of entire Work and extensions of time allowed pursuant to provisions hereof, a sum representing the then accrued liquidated damages. 15.1.2 Liquidated damages shall be considered not as a penalty but as agreed monetary damage sustained by County for loss of revenue and increased project administration expenses, including extra inspection, and architectural and engineering expenses, related to this Contract because Contractor failed to perform and complete Work within time fixed for completion or extensions of time and have been allowed pursuant to provisions hereof. Liquidated damages shall not be deemed to include within their scope additional damages arising from defective work, cost of completion of the Contract, cost of substitute space, or damages suffered by others or other forms of liability claimed against the County as a result of delay (e.g., delay or delay related claims of other contractors, subcontractors or tenants), and defense costs thereof, Contractor shall be responsible for the actual amount of any such damages. 15.1.3 Should the Contractor fall behind approved Progress schedule, County reserves right to deduct liquidated damages based on an estimated period of late completion. The County need not wait until Contract completion to withhold liquidated damages from Contractor's progress payments. Should money due or to become due to Contractor be insufficient to cover agreed liquidated damages, then the Contractor forthwith shall pay remainder to County. 15.1.4 In addition to the liquidated damages set forth in the Agreement, the contractor shall pay for the additional cost charged against the Work for services rendered by the Owner's Inspector and their agents, i.e., Engineer and their consultants, when the Work exceeds the Contract Time and authorized time extensions. The extra inspection cost shall be deducted from any money due or that may become due to the Contractor under the Contract. 15.1.5 If the liquidated damages and inspection costs hereinbefore specified exceed the unpaid balance, the Contractor shall pay the difference to the Owner. 15.2 Contractor will proceed with the Work at such rate of progress to insure full completion within the Contract Time. It is expressly understood and agreed, by and between the Contractor and the Owner, that the completion of the Work described herein is a reasonable time, taking into consideration the average climatic and economic conditions and other factors prevailing in the locality of the Work. 15.3 If the Contractor shall fail to complete the Work within the Contract Time, or extension of time granted by the Owner, then the Contractor will pay to the Owner the specified amount for liquidated damages for each calendar day that the Contractor shall be in default after the time stipulated in the Contract Documents. 15.4 The Contractor shall not be charged with liquidated damages or any excess cost when the delay in completion of the Work is due to the following, and the Contractor has promptly given written notice of such delay to the Owner or Engineer. 15.4.1 To any preference, priority or allocation order duly issued by the Owner. 15.5 Since time is of the essence, the Contractor shall commence work under this Contract on or before the date to be specified in the Notice to Proceed. January 53.7 32.7 71 20 6.74 February 67.2 35.4 76 23 5.93 March 61.9 37.3 82 27 4.75 April 67.8 39.3 91 28 1.70 May 78.5 44.1 99 33 .85 June 84.8 49.9 103 37 .22 July 92.2 54.0 107 41 .05 August 91.9 52.9 108 44 .09 September 85.7 49.0 108 41 .48 October 74.9 43.3 94 31 1.48 November 60.0 36.6 83 24 4.30 December 53.5 32.8 76 23 4.81 Year 31.40 Source: NOAA, National Oceanic and Atmospheric Administration

TIME FOR COMPLETION AND LIQUIDATED DAMAGES. 15.1 Execution a. Time is of Contract by Contractor shall constitute acknowledgement by Contractor that Contractor understands, has ascertained and agrees that the County will sustain damages essence in the amount fixed in Contract for each and every calendar day during which completion performance of the Work required is delayed beyond expiration under this Agreement. The date of time fixed for completion or extensions of time as have been allowed pursuant to provisions hereof. Contractor beginning and the County agree that such damages shall be presumed to be the damages sustained by Lake County as defined below, and that because of the nature of the project, it would be impracticable or extremely difficult to fix the actual damages. 15.1.1 There shall be deducted from any money due or to become due to Contractor after time for completion of entire the Work and extensions are essential conditions of time allowed pursuant to provisions hereof, a sum representing the then accrued liquidated damages. 15.1.2 Liquidated damages Contract Documents. The required date of commencement of the Work shall be considered not as a penalty but as agreed monetary damage sustained established in the Notice to Proceed to be issued by County for loss of revenue and increased project administration expenses, including extra inspection, and architectural and engineering expenses, related to this Contract because Contractor failed to perform and complete Work within time fixed for completion or extensions of time and have been allowed pursuant to provisions hereofthe City. Liquidated damages shall not be deemed to include within their scope additional damages arising from defective work, cost of completion of the Contract, cost of substitute space, or damages suffered by others or other forms of liability claimed against the County as a result of delay (e.g., delay or delay related claims of other contractors, subcontractors or tenants), and defense costs thereof, Contractor shall be responsible for the actual amount of any such damages. 15.1.3 Should the Contractor fall behind approved Progress schedule, County reserves right to deduct liquidated damages based on an estimated period of late completion. The County need not wait until Contract completion to withhold liquidated damages from Contractor's progress payments. Should money due or to become due to Contractor be insufficient to cover agreed liquidated damages, then the Contractor forthwith shall pay remainder to County. 15.1.4 In addition to the liquidated damages set forth As noted in the Agreement, the contractor Contractor shall pay for the additional cost charged against commence the Work for services rendered within ten (10) calendar days after the required date of commencement. Any Work performed by Contractor prior to the required date of commencement shall be at the sole risk of Contractor. The Notice to Proceed shall be issued within thirty (30) days of the execution of the Agreement by the Owner's Inspector City. Should there be reasons why the Notice to Proceed cannot be issued within such period, the time may be extended by mutual agreement of the City and their agents, i.e., Engineer and their consultants, when the Work exceeds the Contract Time and authorized time extensionsContractor. The extra inspection cost shall be deducted from any money due or that may become due to the Contractor under the Contract. 15.1.5 If the liquidated damages and inspection costs hereinbefore specified exceed Notice to Proceed has not been issued within the unpaid balancethirty (30) day period or within the period mutually agreed upon, the Contractor may terminate the Agreement without further liability on the part of either party by providing the City written notice of such termination, in which event such termination shall pay be deemed a termination for convenience of the difference City as set forth in Section 15.5 below. Provided, however, notwithstanding anything in the Contract Documents to the Ownercontrary, in the event of such termination pursuant to this Section 15.1, Contractor acknowledges and agrees that no payments will be due Contractor, nor shall the City make any payments to Contractor for any Work that would have been authorized under the Agreement once executed by both parties. 15.2 b. The Contractor will proceed with the Work at such rate of progress to insure full completion ensure Substantial Completion within the Contract Time. It is expressly understood and agreed, by and between the Contractor and the OwnerCity, that the completion of the Work described herein is a reasonable time, taking into consideration the average climatic and economic conditions and other factors prevailing in the locality of the Work. 15.3 If the Contractor shall fail to complete the Work within the Contract Time, or extension of time granted by the Owner, then the Contractor will pay to the Owner the specified amount Time for liquidated damages for each calendar day that the Contractor shall be in default after the time stipulated in the Contract Documents. 15.4 The Contractor shall not be charged with liquidated damages or any excess cost when the delay in completion Substantial Completion of the Work is due a reasonable period of time. The Construction Schedule shall include the date the Work must be substantially completed by Contractor and all interim milestones required by the City. Substantial Completion of the Work shall be achieved when the Work has been completed to the followingpoint where the City can occupy or utilize the Work for its intended purpose. The entire Work shall be fully completed and ready for final acceptance by the City within 30 calendar days after Substantial Completion of the Work or thirty (30) days after Contractor’s receipt of the punch list, and whichever date occurs last. c. Once the Contractor believes it has promptly given written notice achieved Substantial Completion of the Work, it shall notify the City in writing and request a substantial completion inspection. The Owner shall provide Contractor a copy of the final punch list. Such final punch list shall be in compliance with the Contract Documents and all applicable laws, including Section 218.735 of the Florida Statutes. d. In the event the Work is not fully completed within 30 days from the date of Substantial Completion, the City reserves the right to assess against Contractor its actual damages incurred as a result of such delay to the Owner or Engineerby Contractor. 15.4.1 To any preference, priority or allocation order duly issued by the Owner. 15.5 Since time is of the essence, the Contractor shall commence work under this Contract on or before the date to be specified in the Notice to Proceed. January 53.7 32.7 71 20 6.74 February 67.2 35.4 76 23 5.93 March 61.9 37.3 82 27 4.75 April 67.8 39.3 91 28 1.70 May 78.5 44.1 99 33 .85 June 84.8 49.9 103 37 .22 July 92.2 54.0 107 41 .05 August 91.9 52.9 108 44 .09 September 85.7 49.0 108 41 .48 October 74.9 43.3 94 31 1.48 November 60.0 36.6 83 24 4.30 December 53.5 32.8 76 23 4.81 Year 31.40 Source: NOAA, National Oceanic and Atmospheric Administration

TIME FOR COMPLETION AND LIQUIDATED DAMAGES. 15.1 Execution of Contract by Should the Contractor shall constitute acknowledgement by neglect, refuse, or otherwise fail to complete the Work within the time specified in this Article, the Contractor that Contractor understands, has ascertained and agrees that the County will sustain damages Liquidated Damages in the amount fixed in Contract for of dollars ($ ) shall be assessed per each and every calendar day during which completion that expires after the date of Work required substantial completion, as adjusted by any change order, and until issuance by the County of a certificate of Substantial Completion in accordance with Paragraph 7 (Effective Date and Term) of the General Conditions. A. It is delayed beyond expiration of time fixed for completion or extensions of time as have been allowed pursuant to provisions hereof. hereby understood and mutually agreed, by and between the Contractor and the County agree County, that such damages shall be presumed to be the damages sustained by Lake County as defined below, date of beginning and that because of the nature of the project, it would be impracticable or extremely difficult to fix the actual damages. 15.1.1 There shall be deducted from any money due or to become due to Contractor after time for completion as specified in the contract of entire Work the work to be done hereunder are essential conditions of this contract and extensions of time allowed pursuant to provisions hereof, a sum representing it is further mutually understood and agreed that the then accrued liquidated damages. 15.1.2 Liquidated damages work outlined in this contract shall be considered not as commenced on a penalty but as agreed monetary damage sustained by County for loss of revenue and increased project administration expenses, including extra inspection, and architectural and engineering expenses, related date to this Contract because be specified in the "Notice to Proceed." B. The Contractor failed to perform and complete Work within time fixed for completion or extensions of time and have been allowed pursuant to provisions hereof. Liquidated damages shall not be deemed to include within their scope additional damages arising from defective work, cost of completion of the Contract, cost of substitute space, or damages suffered by others or other forms of liability claimed against the County as a result of delay (e.g., delay or delay related claims of other contractors, subcontractors or tenants), and defense costs thereof, Contractor agrees that work shall be responsible for the actual amount of any such damages. 15.1.3 Should the Contractor fall behind approved Progress scheduleprosecuted regularly, County reserves right to deduct liquidated damages based on an estimated period of late completion. The County need not wait until Contract completion to withhold liquidated damages from Contractor's progress payments. Should money due or to become due to Contractor be insufficient to cover agreed liquidated damages, then the Contractor forthwith shall pay remainder to County. 15.1.4 In addition to the liquidated damages set forth in the Agreement, the contractor shall pay for the additional cost charged against the Work for services rendered by the Owner's Inspector diligently and their agents, i.e., Engineer and their consultants, when the Work exceeds the Contract Time and authorized time extensions. The extra inspection cost shall be deducted from any money due or that may become due to the Contractor under the Contract. 15.1.5 If the liquidated damages and inspection costs hereinbefore specified exceed the unpaid balance, the Contractor shall pay the difference to the Owner. 15.2 Contractor will proceed with the Work uninterruptedly at such rate of progress to as will insure full completion thereof within the Contract Timetime specified. It is expressly understood and agreed, by and between the Contractor and the OwnerCounty, that the time for the completion of the Work work described herein is a reasonable timetime for the completion of the same, taking into consideration the average climatic range and economic usual industrial conditions and other factors prevailing in the locality of the Workthis locality. 15.3 C. If the Contractor shall neglect, fail or refuse to complete the Work work within the Contract Time, time herein specified or any proper extension of time thereof granted by the OwnerCounty, then the Contractor will does hereby agree, as a part consideration for the awarding of this contract, to pay to the Owner County the amount specified amount for in the contract, not as a penalty but as liquidated damages for such breach of contract as herein set forth, for each and every calendar day that the Contractor contract shall be in default after the time stipulated in the Contract Documentscontract for completing the work. 15.4 D. The amount is fixed and agreed upon by and between the Contractor and the County because of the impracticability and extreme difficulty of fixing and ascertaining the actual damages the County would in such event sustain, and the amount is agreed to be the amount of damages which the County would sustain and the amount shall be retained from time to time by the County from current periodical estimates. E. It is agreed that time is of the essence of each and every portion of this contract and of the specifications wherein a definite and certain length of time is fixed for the performance of any act whatsoever and where under the contract an additional time is allowed for the completion of any work, the new time limit fixed by such extension shall be of the essence of this contract. Provided that the Contractor shall not be charged with liquidated damages or any excess cost when the County determines that the Contractor is without fault and the Contractor's reasons for the time extension are acceptable to the County. Provided that the Contractor shall not be charged with liquidated damages or any excess cost when the delay in completion of the Work work is due to the following, and the Contractor has promptly given written notice of such delay to the Owner or Engineer.due: 15.4.1 1. To any preference, priority or allocation order duly issued by the OwnerCounty; 2. To unforeseeable cause beyond the control and without the fault or negligence of the Contractor, including but not restricted to, acts of God, or of the public enemy, acts of the County, acts of another contractor in the performance of a contract with the County, fires, floods, epidemics, quarantine restrictions, strikes, freight embargoes, and severe weather; 3. To any delays of subcontractors or suppliers occasioned by any of the causes specified in subsections above. 15.5 Since F. Provided further, that the Contractor shall, within ten days from the beginning of such delay, unless the County shall grant a further period of time is prior to the date of final settlement of the essencecontract, notify the County in writing of the causes of the delay, who shall ascertain the facts and extent of the delay and notify the Contractor shall commence work under this Contract on or before the date to be specified within a reasonable time of its decision in the Notice to Proceed. January 53.7 32.7 71 20 6.74 February 67.2 35.4 76 23 5.93 March 61.9 37.3 82 27 4.75 April 67.8 39.3 91 28 1.70 May 78.5 44.1 99 33 .85 June 84.8 49.9 103 37 .22 July 92.2 54.0 107 41 .05 August 91.9 52.9 108 44 .09 September 85.7 49.0 108 41 .48 October 74.9 43.3 94 31 1.48 November 60.0 36.6 83 24 4.30 December 53.5 32.8 76 23 4.81 Year 31.40 Source: NOAA, National Oceanic and Atmospheric Administrationmatter.