2018-093-E AMS - Century Slate Company Replace roof at SDC

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DocuSign Envelope ID: B49FB256 -4ADF- 4759- AF63- 134AD44FC239 C. Insert a new Paragraph 8.5 as follows: 8.5 "TIMELY ACCOMPLISHMENT OF WORK AND LIQUIDATED DAMAGES" 8.5.1 It is the intent of the Owner to award the Contract immediately after receipt of Bids, providing the Bids received are within funds available. 8.5.2 The Contractor shall commence work within five calendar days after receipt of "Notice to Proceed" unless otherwise stipulated in said notice and shall be substantially complete within 30 calendar days. The final completion date will be 15 calender days after the substantial completion date. 8.5.3 If the Contractor shall fail to complete the Work within the time specified, or any proper extension thereof granted by the Owner, then the Contractor agrees that such failure constitutes a breach. The Contractor agrees that the Owner may elect to forbear its right to terminate for cause under Article 13.2, or to take other corrective actions such as the right to carry out the work authorized by Article 2.4, and in consideration of the Owner's forbearance the Contractor agrees to pay the Owner the fixed amount of $200 for each day of delay as liquidated damages. The Contractor agrees that the liquidated damages may be deducted by the Owner from any funds that are otherwise owed to the Contractor and not yet paid. The parties agree that time is of the essence in this Contract, and that the above amount is fixed and agreed upon due to the impracticality and extreme difficulty of fixing and ascertaining the actual damages the Owner would sustain in the event of such delay. Actual damages may include but not necessarily limited to rental and/or other expenses of the use of other facilities, loss of grant money or other revenues, loss of the use of capital and additional interest expense and financing cost and claims by other parties in contract with the Owner for their delay expenses. 8.5.4 The Contractor shall notify his surety in writing of any extension(s) of time that may be granted. VIII. MODIFICATIONS OF ARTICLE 9 - PAYMENTS AND COMPLETION A. Paragraph 9.3 "APPLICATIONS FOR PAYMENT" 1. In Subparagraph 9.3.1, delete the words "At least ten days" and replace them with "At least thirty days ". 2. Insert at the end of Subparagraph 9.3.1 the following: Applications for payment referenced in this Subparagraph 9.3.1 of the GENERAL CONDITIONS shall be submitted to the Architect on the Owner's standard form and shall include the Schedule of Values and Progress Schedule as described in Paragraph 3.10 herein, adjusted from the original to show actual conditions at time of submission of Application for Payment. 3. Delete Subparagraph 9.3.2 in its entirety and substitute in its stead the following new Subparagraph 9.3.2: 9.3.2 Subject to issuance of Certificates of payment, payments will become due and payable each month in accordance with the provisions of the GENERAL CONDITIONS in the amount of ninety percent of the proportion of the Contract sum properly allocable to labor, materials and equipment incorporated in the SGC - 12