Common use of Diligent Construction Clause in Contracts

Diligent Construction. The Project must be completed within the time schedule presented with the application approved by the Architectural Review Committee. Extensions may be granted at the Board’s discretion for delays caused by strikes, fires, holidays or other events beyond Owner’s control. If the Project is not completed within the agreed time frame and no extensions have been granted, FINES SHALL ACCRUE at the rate of $300.00 per day until the Project is completed. If work has not begun within two (2) months of the date of the Architectural Review Committee’s approval, the approval shall expire, and a new Submittal Package will be required.