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' principal or a branch office for general administration of the Work and not specifically included in the schedule referred to in subparagraph 11.4.1 - all of which are to be considered administrative costs covered by the CONTRACTOR'S fee. 11.5.2 Expenses of CONTRACTOR'S principal and branch offices other than his office at the site. ' 11.5.3 Any part of CONTRACTOR'S capital expenses, including interest on CONTRACTOR'S capital employed for the Work and charges against CONTRACTOR for delinquent payments. 1 11.5.4 Cost of premiums for all bonds and for all insurance policies whether or not CONTRACTOR is required by the Contract Documents to purchase and maintain the same (except as otherwise provided in subparagraph 11.4.9). ' 11.5.5 Costs due to the negligence of CONTRACTOR, any Subcontractor, or anyone directly or indirectly employed by any of them of for whose acts any of them may be liable, including but not limited to, the correction of defective work, disposal of materials or equipment wrongly supplied and making good any damage to property. 11.5.6 Other overhead or general expense costs of any kind and the costs of any item not specifically and expressly included in paragraph 11.4. 11.6 The CONTRACTOR'S fee which shall be allowed to CONTRACTOR for their overhead and profit shall be ' determined as follows: 11.6.1 A mutually acceptable firm fixed price; or if none can be agreed upon. 1 11.6.2 A mutually acceptable fixed fee based on the estimate of the various portions of the Cost of the Work. 11.7 The amount of credit to be allowed by CONTRACTOR to CITY for any such change which results in a net decrease in cost, will be the amount of the actual net decrease. When both additions and credits are involved in any one change, the net shall be computed to include overhead and profit, identified separately, for both additions and credit, provided however, the CONTRACTOR shall not be entitled to claim lost profits for any Work not performed. ' 11.8 Whenever cost of any Work is to be determined pursuant to paragraphs 11.4 and 11.5, CONTRACTOR will submit in form prescribed by CONSULTANT an itemized cost breakdown together with supporting data. ARTICLE 12 TIME FOR COMPLETION LIQUIDATED DAMAGES AND CHANGE OF THE CONTRACT THE ' 12.1 The date of beginning and the time for completion of the Work are essential conditions of the Contract Documents and the Work shall be commenced on the date specified in the Notice to Proceed. 12.2 The 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 CITY, that the Contract Time for 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. 12.3 If the CONTRACTOR shall fail to complete the Work within the Contract Time, or extension of time granted by the CITY, then the CONTRACTOR will pay to the CITY the amount for liquidated damages as specified in the Agreement, Paragraph 6, for each calendar day that the CONTRACTOR shall be default after the time stipulated in the Contract Documents. 00710-20