R2012-180 AUTHORIZING AGREEMENT WITH BLACK & VEATCH CONSTRUCTION INC.

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e 5.3 Time is of the Essence. Owner and Design/Builder mutually agree that time is of the essence with respect to the dates and times set forth in the Contract Documents, subject to 5.4 herein. 5.4 Liquidated Damages. Design/Builder understands that if Substantial Completion is not attained by 1) the Interim Scheduled Substantial Completion Date or the 2) Scheduled Substantial Completion Date, Owner will suffer damages which are difficult to determine and accurately specify. Design/Builder agrees that if Substantial Completion is not attained by the date to be agreed in Exhibit A as the Interim Scheduled Substantial Completion Date (the "Interim LD Date"), Design/Builder shall pay two-hundred Dollars ($200.00) as liquidated damages for each day that Interim Substantial Completion extends beyond the Interim LD Date subject to an aggregate cap not to exceed ten percent of the Contract Price. Further, Design/Builder agrees that if Substantial Completion is not attained by the date to be agreed in Exhibit A as the Scheduled Substantial Completion Date (the "LD Date"), Design/Builder shall pay two- hundred Dollars ($200.00) as liquidated damages for each day that Substantial Completion extends beyond the LD Date subject to an aggregate cap not to exceed ten percent of the Contract Price. In no event shall Design/Builder be required to pay liquidated damages for both scheduled substantial completion dates and if Design/Builder fails to meet the Interim Scheduled Substantial Completion Date and pays liquidated damages, then Design/Builder shall be permitted an extension in the Scheduled Substantial Completion Date on a one to one basis for each day liquidated damages are due (for example and not limitation Design/Builder is late 5 days for the Interim Substantial Completion Date and pays $200 for each of those days, then the Substantial Completion Date is extended 5 days). Payment of the liquidated damages provided herein shall be Owner's exclusive remedy and Contractor's exclusive liability and in lieu of all liability for any and all extra costs, losses, expenses, claims, penalties and any other damages, whether special or consequential, and of whatsoever nature incurred by Owner which are occasioned by any delay in achieving Substantial Completion or any other Contract Times or times for performance of the Works. Article 6 Contract Price 6.1 Contract Price .1 Owner shall pay Design/Builder in accordance with Article 6 of the General Conditions of Contract Between Owner and Design/Builder June 2012 and Article 7 of this Agreement a contract price ("Contract Price") equal to Design/Builder's Management Fee (as defined in Section 6.2 hereof) plus the Cost of the Work (as defined in Section 6.3 hereof), plus the Specific Work defined in 6.1.2 below subject to any adjustments made in accordance with the Contract Documents. .2 For the specific Work set forth below, Owner agrees to pay Design/Builder, as part of the Contract Price, on the following basis: .1 Direct and indirect labor costs, expenses, and profit for direct employees of Design/Builder performing Design Services (as defined and set forth in Exhibit A) shall be calculated and compensated as an amount equal to the cumulative hours charged by each of Design/Builder's employees performing Design Services times the direct and indirect labor costs, expenses and profit for each employee performing Design Services subject to a not to exceed amount for the Design Services of One Hundred Fifty-Four Thousand Seven Hundred Dollars ($154,700.00) subject to any adjustment to such not to exceed limit in accordance with the Contract Documents. DB Agreement October 2012 Decatur, Illinois Page 4