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The uizdersigned Uiddei- agrees to coinmcrice woi-k within ten (10) days aftez' the date af <br />written notice to commence work. 'I'lze work will be substantial(y completed in olie <br />htltidred fifty (150) calendai• days subject to the extensions oE tiiiie as are provided by <br />the General Conditions of the Contract. <br />nwner and Coiltractor i•ecogtiize that time is of the essence and that Owner will suffer <br />financial loss if the wark coiitemplated in this Project is not completed witllin the tizlle <br />specified plus any extensions allowed in change orders granted pursuaiit to the General <br />Conditions. Owner and Contraccor recognize the delays, expenses and difficulties <br />involved iat proving the actual Ioss suffered by Owner if the work to be colnpleted in <br />the I'roject is not completed on time. Accordingiy, instead of requiriiig ariy such proof, <br />Owner and Contractor agree that as liquidated damages for delay (but not as a penalty), <br />Cozitractor shall pay Owi1ei- Two fiundred Fifty Dollars ($250.00) pcr calendar day for <br />each day that expires after the time specified herein far completion of the work. <br />Erlc]osed witll this proposal is a casiiiei•'s or cei-tificd check fo►• <br />ar a bid botid in the suin oflL_-,~'~~1 <br />Dollars, which it is agreed shall be collected and z-etained by the Owner as liquidated <br />da»Zages in the event tllis proposal is accepted by the Owner within tiiii•ty (30) days <br />after the date advei•tised for the receptioil ol bids and the undez•szgned fails to execute <br />the contract and the i-eqtiired bonci with tiic Ownet-, undei- the roilditions hc►•eof, withiai <br />fifteen (75) days after the said proposal is acmpted, otherwise, said check or bond shall <br />be returned to the undersigiied upon demand. <br />The undersigned hereby declaz•es that he has visited the site and has carefully examine(l <br />the contract documents relative Eo the work covered by the above Uid. <br />IZespcctfulty subiiiihled <br />BIddC.'1": <br />i <br />Signed: <br />T i t ( e: <br />Ad di•ess: _Ni b~~ '0')iCsrr: ~Uo <br />, <br />Seal - if bidder is a coz•poi•atioii <br />Section J11 - 4 <br />34,90 <br />