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have conducted an -inspection of the Project; shall hay.'e reasorobly approved of siune; and shall <br />have reasonably determined that till- Work has been completed substadiialty in compliance With <br />the Contraet<Documehts, subject only to complWon'ofpunch?list items. <br />ARTICLE, A CONTRACT TIME, TIMI; FOR COMPLETION <br />AND LIQUIDATED'DAMAOES <br />4,1 The Commertcomont Onto shall be nodater.lhan we (5) days'after City's issuance ofthe., <br />Notice to.Proceed. contractorAnil perform the Work in accordance with the Co'ntraet Documents' <br />and shall achieve Substantial Completion of.the Project no tater than Ono hundred and Fifty <br />(150) calendai'days:from"the issuance of'ihe'Notice to Proceed ("Substantial Compleifon't), <br />Thereafter, Cmitragtor shall be required (o obtain Final Completion of the Project he 181Wthan <br />One Hundred Eighty QI o) Calendar days from thcJssuance of the N666 to'Proceed ("Final <br />Cotnpletiod").. - <br />4.2 Contractor shall complete all upplications for'tlt9 Pehniis, and subinit oll.required <br />documents;. includinglimitedi <br />but,noi n the Bondsandthe lnsomncc Cerlfficafe, within ten._(10) <br />oalendar'days after issuance of a`TJotice to Proceed by the City. In the event Contractor fails to <br />deliver to the City the required' documents within'16 (10) days.dftet Issuance. of a Notice to <br />proceed, or fails in apply for the Permits Within ten (10). days aRer issuance of a Notice to <br />Proceed, or ftils to commence the Work_.MOn five (5) days tiRef Issuance ofa Notice to <br />Proceed, the'ri Contractor shall be in default. In such event the Chyi. in addition to all remedies' <br />provided for an event of Cont'nictor's default hereunder, sliall have the right to collect from <br />Contractor'ell expenses incurred by the'City in.thd procuroment of the' Work in connection ivith <br />the Regional Hybrid Skatepark/Pumplrack Initiative a4laulover;Park. <br />43 Upon. failure of Contractor to achieve Final Completion of the Work 60 later the", 60, <br />Hundred )righty (18D),'cefchad- dnysTfrom the Cominencement batespecife8 in the.N' ioe to <br />Proceed, or Suli'stantial Completion within One llitmored nail Ftfty (150) calendar Boys from <br />Elhtlgaf�: <br />the Cotntnoncamant, Date specified imilte'Nolice to Yroceod, 'alas anx.apbroved. Brno extensiogqss <br />(ifapplicabla), Conimctorsholl,poy to IhcCiCy the sum iof. " vollars� <br />for:each'ctileltdnr day date beyond these deadlines. Those, amounts are not <br />�.penaltles fiat are liquidated datnages to the City for its. inability to obtain beneflAhA <br />occupancy and/or use -6 the Projeot, Liquidated damages are hereby -fixed and 'agreed !, <br />upon between iiia. parties, .recognizing the impossibility of precisely ascedainitig'the <br />amount of damages that will be sustained by theCit'y as a consequence of such delay, aiid both <br />parties desidng to obviate any question of dispute conccrningihe amount of said damages.and <br />ane cost andeffect ofailu <br />f the re OfContractor to comptate the Work on time. <br />4,4 Construeliioh of the Work, shnit.be deemed tq�have been completed once all of I* work <br />uporithe.occurrence'ofall'ofthefollowing: (i)thearc;ntectofrecoidhos iggedanil;doiivi;red,to <br />City o eertificdle,ofPinbi Completion in'aec'ordance with the Plans'and Specifications; (ii).punch. <br />list items for-thd-Work have been oompleted;.and QuitContmolorfias nchieyed Final Completion <br />of the:Work. <br />03$61Is'— MERICAN RAMP MMPAM' <br />Page 25 of X 9 <br />:5 <br />M <br />