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Standard Form of Agreement <br />00 52 00-2   <br />TABLE OF LIQUIDATED DAMAGES <br /> <br /> Original Contract Amount Charge Per <br />From More than <br />($) <br />To and Including <br />($) <br />Calendar Day <br />($) <br />0 25,000 300 <br />25,000 100,000 400 <br />100,000 500,000 900 <br />500,000 1,000,000 1,200 <br />1,000,000 2,000,000 1,500 <br />2,000,000 5,000,000 2,500 <br />5,000,000 10,000,000 3,000 <br />10,000,000 ------- 3,500 <br /> <br />ARTICLE 5 – CONTRACT PRICE <br /> <br />5.1 Owner shall pay Contractor for completion of the Work in accordance with the Contract Documents an amount in <br />current funds equal to the sum of the amounts determined pursuant to Paragraphs 5.01.A below: <br /> <br />A. For all Unit Price Work, an amount equal to the sum of the established unit price for each separately identified <br />item of Unit Price Work times the estimated quantity of that item as indicated in Contractor’s Bid, attached hereto <br />as an exhibit. <br /> <br />As provided in Paragraph 11.03 of the General Conditions, estimated quantities are not guaranteed, and <br />determinations of actual quantities and classifications are to be made by Engineer as provided in Paragraph 9.07 of <br />the General Conditions. Unit prices have been computed as provided in Paragraph 11.03 of the General <br />Conditions. <br /> <br /> <br />ESTIMATED TOTAL OF ALL UNIT PRICE WORK $ One hundred and seventy-nine $179,990.00 <br /> thousand, nine hundred and ninety <br /> dollars. <br /> (use words) (figure) <br /> <br />ARTICLE 6 – PAYMENT PROCEDURES <br /> <br />6.1 Submittal and Processing of Payments <br /> <br />A. Contractor shall submit Applications for Payment in accordance with Article 14 of the General Conditions. <br />Applications for Payment will be processed by Engineer as provided in the General Conditions. <br /> <br />6.2 Progress Payments; Retainage <br /> <br />A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications <br />for Payment on or about the 15th day of each month during performance of the Work as provided in Paragraphs <br />6.02.A.1 and 6.02.A.2 below. All such payments will be measured by the schedule of values established as <br />provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number <br />of units completed) or, in the event there is no schedule of values, as provided in the General Requirements: <br /> <br />1. Subject to the provisions of SC-14.02, progress payments will be made in an amount equal to the percentage <br />indicated below but, in each case, less the aggregate of payments previously made and less such amounts as <br />Engineer may determine or Owner may withhold, including but not limited to liquidated damages, in <br />accordance with Paragraph 14.02 of the General Conditions: <br /> <br />a. Ninety-five percent (95%) of Work completed (with the balance being retainage).