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April 2, 1992 <br />If the CONTRACTOR is responsible for a delay in progress of the <br />work, the CONTRACTOR shall, without additional cost, work <br />overtime and utilize such additional equipment and manpower as <br />may be necessary to complete the contract work by the stipulated <br />date. Failure to comply will be grounds for termination of this <br />Agreement as stipulated below or assessment of liquidated damages <br />as stipulated under the Liquidated Damages clause of these <br />General Conditions. <br />If the CONTRACTOR should fail to prosecute the work properly and <br />diligently, or default performance of any provision of the <br />purchase order and its collateral documents, the OWNER after <br />seven days written notice to the CONTRACTOR and his surety may, <br />without prejudice to any other remedy the OWNER may have, dismiss <br />the CONTRACTOR and complete the work, and may deduct the cost of <br />so doing from any unpaid balance of the contract price due or to <br />become due the CONTRACTOR. If such cost of completion of the <br />work is in excess of the unpaid balance of the contract price, <br />the CONTRACTOR shall reimburse the OWNER for such excess or the <br />OWNER shall have cause of action at law for the amount of such <br />excess and all costs of prosecution of such action. <br />10. LIQUIDATED DAMAGES <br />If the CONTRACTOR shall neglect, fail or refuse to complete the <br />work within the time agreed upon in this purchase order contract <br />or any extension thereof, the CONTRACTOR shall be liable to the <br />OWNER in the amount specified the Special Conditions for this <br />project for each and every calendar day the completion of the <br />work is delayed beyond the time provided in this purchase order <br />contract, as fixed and agreed liquidated damages and not as a <br />penalty. If the OWNER terminates the CONTRACTOR'S right to <br />proceed, the resulting damage will consist of liquidated damages <br />until such reasonable time as may be required for final <br />completion of the work along with any increased costs incurred by <br />the OWNER in completing the work. If the OWNER does not <br />terminate the CONTRACTOR'S right to proceed, the resulting damage <br />will consist of liquidated damages until the work is completed or <br />accepted. <br />MLRD-7 <br />