2018-325-E AMS - Bordeaux Construction Co. Northern Campus construction

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DocuSign Envelope ID: 04E136D1 -507C- 4219- BF16- 446F8D2192F8 from those Subcontractors. If the Project is not substantially complete by the substantial completion date as extended, the Early Completion Bonus shall be deemed automatically waived without further notice, and the funds shall be made available to take action to maintain the Project on schedule. Once the funds budgeted for the Early Completion Bonus are exhausted, all costs associated with any action taken to stay within the completion schedule are the CMAR's responsibility within the GMP. If the CMAR finds that the schedule is likely to be impacted by an action or inaction on the part of the Owner, the CMAR must review the situation with the Owner in a timely manner, and if necessary, to obtain a change order amendment for such Work prior to taking any action which has a time and/or cost impact. All change orders will be settled in full. No caveats for later settlement of time extensions or delays will be accepted. 24.5. Request for extension of time shall be made in writing within ten (10) days following the event that is the cause of delay. In case of continuing cause for delay, the CMAR shall notify the Project Designer of the delay within 20 days of the beginning of the delay and only one claim is necessary. Failure to make a timely claim will constitute a waiver of said claim for extensions of time or for monetary compensation. 24.6. The CMAR shall notify its surety in writing of each extension of time granted. 24.7. The schedule for all responses by the Project Designer to submittals by the CMAR shall be part of the Project schedule, as amended from time to time in accordance with the Contract. No request for a time extension shall be allowed on account of failure of the Project Designer to process any type of submittals, furnish drawings, or provide instructions unless and until the CMAR provides written notice of the request and processes it in accordance with paragraphs 24.4 and 24.5. 24.8. Should the CMAR fail to bring the Project to substantial completion within the time prescribed by the schedule that is established at the time the final GMP is accepted (or such later date as may result from extension of time granted by the Owner), the CMAR shall be liable to the Owner for delay damages as set forth herein. The CMAR acknowledges that delays will damage the Owner, but also acknowledges that proof of such damages would be difficult and costly for both parties, and that the injury to the Owner which could result from a failure of the CMAR to complete on schedule is uncertain and cannot be computed with exact precision. In order to liquidate in advance the delay damages that the Owner will be entitled to recover from the CMAR in the event of unexcused delays in the completion of the Project, the CMAR agrees that it will pay, and that the Owner may retain from the funds otherwise to be paid to the CMAR, the following liquidated damages, which sums are agreed upon as a reasonable and proper measure of damages which the Owner will sustain by failure of the CMAR to complete Work within the time stipulated: 24.8.1. The sum of $1,000.00 per day for each consecutive calendar day that the CMAR fails to achieve substantial completion of the entire Project. 24.8.2. If the Project is not finally complete within sixty (60) days after the time prescribed for final completion by the schedule that is established at the time the final GMP is accepted (or such later date as may result from extension of time granted by Owner) then on the sixty -first (61S) day after the final completion date and on each calendar day thereafter, the CMAR shall pay as liquidated damages the sum of $500.00 per day. 24.9. In addition to the foregoing liquidated damages, the Owner may recover extended utility charges as expressly set forth elsewhere in this Contract. 24.10. The CMAR shall not use its unexpended GMP Contingency to pay liquidated damages. The CMAR may in its discretion provide in its construction contracts that its Subcontractors will be liable for liquidated delay damages, in the amount of the Owner's liquidated damages or in different amounts. Notwithstanding anything in this Contract that might be construed to the contrary, in the event the CMAR deducts liquidated damages from a particular construction Page 25 of 53 Revised 10/17