first tier vendors for the construction of the project. The second notice to proceed shall be issued by the owner upon receipt of building pennits, granting pennissions to the Contractor to commence on-site construction activities in regards to new improvements. For time related clauses to this contract, the Contract Time shall be measured from the second notice to proceed, plus anytime in 3.1.1
If, prior to the commencement of the Work, the Owner requires time to file mortgages, mechanic's liens and other security interests. The Owner s time requirement shall be as follows:
The Contract Time shall be measured from the Date of Commencement (date of Second Notice to Proceed). The Owner and Contractor have agreed on a Project Schedule, attached as Exhibit "D" which identifies milestones for the Work, including, but not limited to, all major subcontractors: commencement and completion dates as well as dates for substantial completion and temporary occupancy. The Project Schedule considers and includes time required for all activities and events that may be nonnally encountered in the course of project. Project schedule Date of ommencement to be adjusted to the date referenced in the second notice to proceed.
The Contractor shall achieve Substantial Completion of the entire Work no later than 280 calendar days from the date of Commencement, subject to adjustments of this Contract Time as provided in the Contract Documents. The Contractor acknowledges that time is of the essence for this Contract and that timely Substantial Completion of the Work is of critical importance to the Owner.
If Contractor fails to achieve Substantial Completion of the Work within thirty (30) days after the required date for Substantial Completion, Contractor shall pay to Owner as liquidated damages, and as Owner's sole remedy for such late completion, an amount equal to $100 per day for each full business day, Monday through Friday, between the required Substantial Completion date and the date that Contractor achieves Substantial Completion of the Work. The parties agree that Owner's actual damages for late completion are extremely difficult and impracticable to ascertain, and that such liquidated damage calculation is a reasonable estimate of the amount of damages Owner will suffer and is not a penalty.
ARTICLE 4 CONTRACT SUM
The Owner shall pay the Contract Sum in current funds for the Contractor's perfonnance of the Contract. The Contract Sum shall be: ENTER REVISED SUM THAT INCLUDES ADDENDUM #1 REVISIONS Dollars ($X,XXX.OO), subject to additions and deductions as provided in the Contract Documents.
The Contract Sum is based upon the following alternates, if any, which are described in the Contract Documents and are herebyaccepted by the Owner: Reference Exhibit "E", Contractor Clarifications and Alternates available to owner.
Allowances, if any, are as follows:
ARTICLE 5 PAYMENTS
Based upon Applications for Payment submitted to the Architect by the Contractor and Certificates for Payment issued by the Architect, the Owner shaH make progress payments on account of the Contract Sum to the Contractor as provided below and elsewhere in the Contract Documents.
The period covered by each Application for Payment shall be one calendar month ending on the last day of the month, or as follows:
Provided that an Application for Payment is received by the Architect not later than the [25th] day of a month, the Owner shall make payment to the Contractor not later than the [15th] Day of the following month. If an Application for Payment is received by the Architect after the application