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y ' <br /> HVAC <br /> ERHIBIT 8 <br /> 14. Tiine for ComDletion of Components and Liquidated Damages . <br /> (a) The date of beginning on each of the component parts of <br /> the project as stated in the Owner' s Time Schedule ( "OTS" ) and the <br /> time for completion of the work on each of the Component parts of <br /> the project as stated in the Owner' s Time Schedule �( "OTS" ) are of <br /> the essence of this Contract and essentiai conditions of the <br /> Contract documents . <br /> (b) The Contractor will proceed with the work at such rate of ', <br /> progress to insure that each component part is operable by the last <br /> day shown in the OTS for work to be performed on such component <br /> part, and, fully complete by April 30, 1999 . It is expressly <br /> ag�eed by and between the Contractor and the Authority that the OTS <br /> Contract time ior the completion of the work described herein for <br /> each component part is a reasonable ti.me, taking into consideration <br /> climatic, economic and all other factors prevailing in the locality <br /> of the work. <br /> (c) It is further expressly understood and agreed by and <br /> between the Contractor and the Authority that a delay in having <br /> each component part operabie by the last date shown in the OTS for <br /> work to be performed on such component part and fully complete by <br /> April 30, 1999, will cause an injury and damages to the Authority <br /> which are incapable or very difficult of accurate estimation and <br /> such actual delay damages by reason of non-compietion of a <br /> E�IBIT 8 Page 1 <br /> i <br /> � <br />