Reso 2010-1620 - Laserfiche WebLink

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.. the re-procurement of the Services. 2.3 Time is of the essence throughout this Agreement. 2.4 Upon failure of Contractor to achieve Substantial Completion of the Work by the Time for Completion, plus approved time extensions (if applicable), Contractor shall pay to the City the sum of five hundred dollars ($500.00) for each calendar day after the Time for Completion plus any approved time extensions (if applicable). These amounts are not penalties but are liquidated damages to the City for its inability to obtain beneficial occupancy and/or use of the Project. Liquidated damages are hereby fixed and agreed upon between the parties, recognizing the impossibility of precisely ascertaining the amount of damages that will be sustained by the City as a consequence of such delay, and both parties desiring to obviate any question of dispute concerning the amount of said damages and the cost and effect of the failure of Contractor to complete the Construction Work on time. 2.5 The City is authorized to deduct liquidated damages from monies due to Contractor for Work under this Agreement or as much thereof as the City may, in its sole discretion, deem just and reasonable. 2.6 Contractor will promptly perform its duties under the Contract Documents and will give the Work as much priority as is necessary to cause the Work to be completed on a timely basis in accordance with the Contract Documents. Time is of the essence of this Agreement. All Work shall be performed strictly (not substantially) within the time limitations necessary to' meet all deadlines established in the Construction Schedule and the Contract Documents. 2.7 All dates and periods of time set forth in the Construction Schedule, and the Contract Documents, including those for the commencement, prosecution, Interim milestones, milestones, and completion of the Work, and for the delivery and installation of materials and equipment, were included because of their importance to the City. 2.8 Contractor acknowledges and recognizes that (i) the City is entitled to full and beneficial occupancy and use of the completed Work following expiration of the Time for Completion, and (ii) the City will schedule the opening of the Project based upon the Contractor's achieving Substantial Completion of the Work on or before the Time for Completion. 2.9 Contractor agrees to the assessment of liquidated damages as provided in this Agreement. 2.10 Except for extensions approved in writing by the City, Excusable Delays, or as otherwise specifically provided in this Agreement, the Contractor understands that the occurrence of events of delay within the Contractor's control, shall not excuse the Contractor from its obligation to achieve Substantial completion of the Work within the time stipulated in this Agreement, and shall not entitle the Contractor to an adjustment of the Contract Amount. All parties under the control or contract with the Contractor shall include, but are not limited to, subcontractors, materialmen and/or laborers. 22