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Bid Package 1 - Refrigeration <br />Guidant John Rose MN Oval – Ice System Improvements <br />Roseville, Minnesota Agreement <br />Project No. 900-21-427 0052132 <br />2.All site work on the remaining site/oval outside the refrigeration building: July <br />15, 2022. <br />3.Final Completion for all site work outside the refrigeration building is August 1, <br />2022. <br />4.03 Liquidated Damages <br />A.Contractor and Owner recognize that time is of the essence as stated in Paragraph <br />4.01 above and that Owner will suffer financial and other losses if the Work is not <br />completed and Milestones not achieved within the times specified in Paragraph 4.02 <br />above, plus any extensions thereof allowed in accordance with the Contract. The <br />parties also recognize the delays, expense, and difficulties involved in proving in a <br />legal or arbitration proceeding the actual loss suffered by Owner if the Work is not <br />completed on time. Accordingly, instead of requiring any such proof, Owner and <br />Contractor agree that as liquidated damages for delay (but not as a penalty): <br />1.Substantial Completion: Contractor shall pay Owner, per Table 1 Schedule of <br />Liquidated Damages below, for each day that expires after the time (as duly <br />adjusted pursuant to the Contract) specified in Paragraph 4.02.A above for <br />Substantial Completion until the Work is substantially complete. <br />2.Completion of Remaining Work: After Substantial Completion, if Contractor <br />shall neglect, refuse, or fail to complete the remaining Work within the Contract <br />Time (as duly adjusted pursuant to the Contract) for completion and readiness <br />for final payment, Contractor shall pay Owner, per Table 1 below, for each day <br />that expires after such time until the Work is completed and ready for final <br />payment. <br />3.Liquidated damages for failing to timely attain Substantial Completion and final <br />completion are not additive and will not be imposed concurrently. <br />4.Milestones: Contractor shall pay Owner, per Table 1 Schedule of Liquidated <br />Damages below, for each day that expires after the time (as duly adjusted <br />pursuant to the Contract) specified above for achievement of Milestone 1, until <br />Milestone 1 is achieved. <br />5.Table 1 – Schedule of Liquidated Damages (MNDOT) <br />Original Contract Amount <br />From more than, $To and including, $ <br />Liquidated damage charge <br />per Calendar Day, $ <br />0 25,0000 300 <br />25,000 100,000 400 <br />100,000 500,000 900 <br />500,000 1,000,000 1,200 <br />1,000,000 2,000,000 1,500 <br />2,000,000 5,000,000 2,500 <br />5,000,000 10,000,000 3,000 <br />Attachment D