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price, not fio exceed $39,695.09. Such amount is fihe Construction Contract Price and includes the aggregate amounfi of all allovvances and any unit price items to be furnished or installed. 5.2 Within fwenty (20) days after execufiion of the Contract for Construction, the Contrac- tor shall prepare and present to fhe Ov►rner, the Contractor's Compensation Schedule a Com- pensation Schedule shall.be based on the amounts set forfh above. Applications for payment shall be submitted in detail sufficient for an audit thereof in accordance with Owner's policies on the subject in effect at the time the Contractor commences construcfion of the Work. 5.3 Wifhin tuvent 20 da s after recei t b Ov►rner of Co , y ( ) y p y ntracfiors invoice, properly pre- pared pursuant to Owner's policies on the subjecfi in effecfi at the time the Contraetor com- mences construction of the Work, the Owner shall pay the Contractor the amount approved by Prafessional, less retainage, unless there is a dispufe about the amounfi of compensation due to fihe Confiractor. AF2TICLE 6. LIQUIDATED DAiVIAGES FOR DELAY 6.1 Inasmuch as failure to Substantially Compfete the Work uvithin the fiime fixed in Exhi- bifi A will resulfi in injury to the Owner, and as damages arising from such failure cannot be cal- culated with any degree of certainty,.it is agreed that if the Work is not Substantially Completed � within the time provided in Exhibit A, or within such further time, if any, as shall be allowed for time extensibns in accordance with the provisions of the Contract for Construction, the Contrac- tor shall pay to the Owner as liquidated damages for such delay, and not as a penalty, the amount set forth in Exhibit A for each calendar day elapsing between the date fixed for Substan- fiial Completion and the dafie such Substantial Completion is fully accomplished. The parties agree that said liquidated damages are reasonable given existing circumstances, including, ' vuithout limitation, the range of harm that is foreseeable and the anticipation that proof ofi dam- ages would be costly and impractical. 6.2 The liquidated damages shall be payable in addition#o any excess expenses or costs payable by the Contractor to the Owner under the General Terms and Conditions, and shall not preclude the recovery of damages by the Owner under other provisions of the Contract for Construction, except claims related to Contractor's delays in Substantial Completion. Own- er's right to receive liquidated damages shall in no manner affect the Owner's right to terminate the Contract for Construction, as provided in the General Terms and Conditions or elsewhere in , the Contract for Construction. The Owner s exercise of the right to term inate shall not release the Contractor from the obligation to pay said liquidated damages. 6.3 When the Owner reasonably believes (i)that Substantial Completion will be inexcus- ably delayed; or(ii) that the Contractor will fail to.achieve Final Completion by the date of Final Completion, the Owner shall be entitled, but not required, to withhold from any amounts other- wise due the Contractor the daily amount specified for liquidated damages in this Article for each calendar day of the unexcused delay. If and when the Contractor overcomes the delay in timely achieving Substantial Completion or Final Completion, or any part thereof, for which the Owner has withheld payment, the Owner shall promptly release to the Contractor those funds withheld, but no longer applicable, as liquidated damages. ARTICLE 7. INTENTIONALLY LEFT BLANK