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28 <br /> This Early Completion Bonus,if earned,will be included in the final payment to the CMAR. If the <br /> CMAR decides that any action must be taken in order to meet its contractual responsibility to <br /> complete the Project on time or to mitigate liquidated damages payable to the Owner,including for <br /> example and without limitation forcing Subcontractors to work overtime, increase labor forces or <br /> staffing,or work out of sequence,then the CMAR may,upon written notice to the Owner,waive its <br /> right to the Early Completion Bonus. Upon notice that the CMAR waives its right to the Early <br /> Completion Bonus, the Owner shall make the funds budgeted for the Early Completion Bonus <br /> available to the CMAR to pay the actual costs of such action as a Cost of the Work. The CMAR <br /> will enforce all rights and remedies that it has against any and all Subcontractors that are <br /> responsible for the failure to complete the Project within the schedule,and reimburse the Owner for <br /> the sums contributed under this paragraph to the extent the CMAR is able to recover those costs <br /> from those Subcontractors.If the Project is not substantially complete by the substantial completion <br /> date as extended, the Early Completion Bonus shall be deemed automatically waived without <br /> further notice, and the funds shall be made available to take action to maintain the Project on <br /> schedule. Once the funds budgeted for the Early Completion Bonus are exhausted, all costs <br /> associated with any action taken to stay within the completion schedule are the CMAR's <br /> responsibility within the GMP. If the CMAR finds that the schedule is likely to be impacted by an <br /> action or inaction on the part of the Owner,the CMAR must review the situation with the Owner in <br /> a timely manner, and if necessary, to obtain a change order amendment for such Work prior to <br /> taking any action which has a time and/or cost impact. All change orders will be settled in full.No <br /> caveats for later settlement of time extensions or delays will be accepted. <br /> 24.5. Request for extension of time shall be made in writing within ten (10) days following the event <br /> that is the cause of delay. In case of continuing cause for delay,the CMAR shall notify the Project <br /> Designer of the delay within 20 days of the beginning of the delay and only one claim is necessary. <br /> Failure to make a timely claim will constitute a waiver of said claim for extensions of time or for <br /> monetary compensation. <br /> 24.6. The CMAR shall notify its surety in writing of each extension of time granted. <br /> 24.7. The schedule for all responses by the Project Designer to submittals by the CMAR shall be part of <br /> the Project schedule,as amended from time to time in accordance with the Contract.No request for <br /> a time extension shall be allowed on account of failure of the Project Designer to process any type <br /> of submittals, furnish drawings, or provide instructions unless and until the CMAR provides <br /> written notice of the request and processes it in accordance with paragraphs 24.4 and 24.5. <br /> 24.8. Should the CMAR fail to bring the Project to substantial completion within the time prescribed by <br /> the schedule that is established at the time the final GMP is accepted (or such later date as may <br /> result from extension of time granted by the Owner), the CMAR shall be liable to the Owner for <br /> delay damages as set forth herein. The CMAR acknowledges that delays will damage the Owner, <br /> but also acknowledges that proof of such damages would be difficult and costly for both parties, <br /> and that the injury to the Owner which could result from a failure of the CMAR to complete on <br /> schedule is uncertain and cannot be computed with exact precision. In order to liquidate in advance <br /> the delay damages that the Owner will be entitled to recover from the CMAR in the event of <br /> unexcused delays in the completion of the Project, the CMAR agrees that it will pay, and that the <br /> Owner may retain from the funds otherwise to be paid to the CMAR, the following liquidated <br /> damages, which sums are agreed upon as a reasonable and proper measure of damages which the <br /> Owner will sustain by failure of the CMAR to complete Work within the time stipulated: <br /> 24.8.1. After a grace period of thirty(30)calendar days the sum of$ per additional day for <br /> each consecutive calendar day that the CMAR fails to achieve substantial completion of <br /> the entire Project; provided that the daily liquidated damages to be assessed against and <br /> paid by the CMAR through the date of substantial completion shall not exceed and <br /> No/100 dollars <br /> Page 25 of 52 <br /> Revised 12/24,4/25 <br />