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have conducted an inspection of the Project; shall have reasonably Approved of same; and shall <br />have reasonably determined that all Work has been completed substantially in compliance with <br />the Contract Documents, subject only to completion of punch=list items. <br />ARTICLE 4. CONTRACT TIME, TIME FOR COMPLETION <br />AND LYQUIDATED.OAMAGES <br />4.1 The Commencement Date shall be no later than five (5) days -after City's issuance of the. <br />Notice to Proceed. Contractor shall perform the Work in accordance with the Contract Docurnents- <br />and shall achieve Substantial Completion of.the Project no later than Onc Hundred and Fifty <br />(150) calendai days from the issuance of the Notice to Proceed ("Substanthil Complellon" ). <br />Thereafter, Contractor shall be required to obtain Final Completion of the Project no later -than <br />One Hundred Eighty (180) calendar days from the'issuance-of the_Notice to Proceed ("Finnl <br />Completion"). <br />4.2 Contractor shall complete -all applications for1ltc Permits, and submit all required <br />documents,including but not limited, to the Bonds and the Insurance Certificate, within ten._(10) <br />calendar -days'after issuance of a Notice'to Proceed b. the City. In the event Contractor fails to <br />deliver to the City the required documents within tail (10) days sifter issuance. of a Notice to <br />Proceed, or fails to apply for the Permits within ten (10). days after issuance of a Notice to <br />Proceed, or fails to commence the Work .within five (5) days tiger issuance ofa Notice to <br />Proceed, then Contractor shall be in default. In such event the.City; in addition to all remedies <br />provided for an event of Contnictor's default hereunder, shall have the right to collect from <br />Contractor:ell expenses incurred by the City in the procurement of the Work in connection with <br />the Regional Hybrid Skatepark/Pumpirack Initiative of HauloverPark. <br />4.3 Upon failure of Contractor to achieve -Final Completion of the Work- no later than. One. <br />Hundr"ed El 911 <br />ty (180).calendar days.from the Commencement Date specified in the.Notice to <br />Proceed, or Substantial Completion within One Hundred and Fifty (150) calendar days from <br />American the Commencement, Date specified in ilia Notice to P bdecd, plus any, approved. time extensio <br />Ramps(ifapplicable),Contractorshttll,payto'theCttythesum;of ;_ . Dollar $500 <br />for .each calendar day date beyond these deadlines These. amounts are not <br />intials penalties but are liquidated damages to the City 'for its- inability to obtain beneficial <br />occupancy and/or use of the Project. Liquidated 'damages are hereby fixed and 'agreed Subject to <br />upon between the. parties, recognizing the impossibility of precisely ascertaining the City <br />amount of damages that will be sustained by the City -as a consequence,of such delay, aiid'both Manager's <br />parties desiring to obviate any question of dispute conccrningthe amount of said damages and signed <br />the cost and .'effector the failure of Contractor to complete the Work- on time. approval. <br />4.4 Construction of the Work. shall.,be deemed tohave been completed once all of the work <br />upon the occurrence of all of the following: (i) the architect of record <br />'has signed and delivered to <br />City a certificate of Finial Completion in accordance with the Plans and Specifications; (ii)_punch <br />list items for -the -Work have been completed;.and (iii):Contractor has achieved Final Completion <br />of the Work. <br />030.6178-AMERICAN RAMP COMPANY '5 <br />S 1 no <br />