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" f A ft,_a " "f proof, OWNER and CONTRACTOR agree that as liquidated damages for delay (but not as a penalty) CONTRACTOR shall pay OWNER one hundred fifty and 00 /100 dollars ($150.00) for each day that expires after the time specified in paragraph 3.1 for Substantial Completion until the Work is substantially complete.. After Substantial Completion, if CONTRAC- TOR shall neglect, refuse or fail to complete the remaining Work i within the Contract Time or any proper extension thereof granted by OWNER, CONTRACTOR shall pay OWNER fifty dollars ($50.00) for each day that expires after the time specified in paragraph 3.1 for completion and readiness for final payment. Article 5. PAYMENT PROCEDURES. CONTRACTOR shall submit Applications for Payment in accordance with Article 14 of the General Conditions. Applications for Payment will be processed by.ENGINEER as provided in the General Conditions. 5.1 Progress Payments. No progress payments will be-made on this project. One payment, Final Payment, will be made upon the satisfactory completion of the project.. 5.2 Final Payment. Upon final completion and acceptance of the Work in accordance with paragraph 14.13 of the General Condi- tions, OWNER shall pay the remainder of the Contract Price as recommended by ENGINEER as provided in said paragraph 14.13. Article 6. INTEREST. No interest will be paid to the CONTRACTOR on retained money unless required by law. Article 7. CONTRACTOR'S REPRESENTATIONS. In order to induce OWNER to enter into this Agreement, CONTRACTOR makes the following representations: 7.1 CONTRACTOR has familiarized itself with the nature and extent of the Contract Documents, Work, site, locality, and all local conditions and Laws and Regulations that in any manner may' affect cost, progress, performance or furnishing of the Work. 7.2 CONTRACTOR has studied carefully all reports of explorations and tests of subsurface conditions and drawings of physical conditions which are identified in the Supplementary - Conditions as provided in paragraph 4..2 of the-General Conditions, and accepts the determination set forth in paragraph SC -4.2 of the Supplementary Conditions of the extent of the technical data contained in such reports and drawings upon which CONTRACTOR is entitled to reply. 7.3. CONTRACTOR has obtained and carefully studied (or assumes responsibility for obtaining and carefully studying) all such examinations, investigations, explorations, tests, reports and 2