Intermediate Contract Time Clause Samples

Intermediate Contract Time. The contractor shall complete the removal and replacement of the existing sidewalk between 5:00 PM on 9/2/16 to 9/6/16 7:00 AM. The parties recognize that the City will suffer financial loss if the Work is not completed within the Contract Time (including adjustments and extensions, if any). They also recognize the delays, expense, and difficulty to both parties involved in proving or contesting the amounts of those losses. Instead of requiring proof of those amounts, it is agreed that Contractor shall be liable for and shall pay the City $1,000 per day of delay as liquidated damages, and not as a penalty, for each day after the Intermediate Contract Time until completion.