Common use of FAILURE TO COMPLETE WORK ON TIME Clause in Contracts

FAILURE TO COMPLETE WORK ON TIME. Should Contractor fail to complete the Work on or before the Contract Time, taking into consideration all agreed upon extensions, the City may permit Contractor to proceed and in such case there shall be deducted from any monies due or that may become due Contractor the amount agreed upon as liquidated damages under section 4 the Special Conditions of the Agreement. Liquidated damages shall continue to accrue until the unfinished Work is completed whether Contractor finishes the Work or the Work is finished by an alternate contractor. Permitting Contractor to continue and finish the Work or any part of it after the Contract Time, or after the date to which the Contract Time may have been extended, shall in no way operate as a waiver on the part of the City of any of its rights under the Contract. Neither by the taking over of the Work by the City, nor by the annulment of the Contract, shall the City forfeit the right to recover liquidated damages from Contractor or Contractor’s Surety for failure to complete the Contract.