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The date of commencement for this work shall be the date at which all construction documents are released from permitting, or posted at the job site, and Notice of Commencement has been filed by Contractor If, prior to the commencement of the Work, the Owner requires time to file mortgages, mechanic's liens and other security interests, the Owner's time requirement shall be as follows: 3.2 The Contract Time shall be measured from the date of commencement and when all permits are posted on job site. 3.3 The Contractor shall achieve Substantial Completion of the entire Work not later than 120 days from the date of commencement, or as follows: If failure to achieve substantial completion of the project is not achieved within one hundred and twenty day time frame for reasons other than acts of God / weather conditions or material availability, than, a penalty of $100.00 per day shall be assessed. Subject to adjustments of this Contract Time as provided in the Contract Documents. ARTICLE 4 CONTRACT SUM 4.1 The Owner shall pay the Contractor the Contract Sum in the current funds for the Contractor's performance of the Contract. The Contract Sum shall be Fifty Five Thousand Dollars.($55,000.00) Subject to additions and deductions as provided in the Contract Documents. 4.2 The Contract Sum is based upon the following alternates, if any, which are described in the Contract Documents and are hereby accepted by the Owner. Changes ,Alterations and extras: All changes in or departures from agreed work description shall be in writing. Contractor must submit in writing to the owner if Any change order is to occur due to changes made by owner. When change order is agreed in writing by owner, Contractor will charge owner based on cost plus 10% on said change order. 4.3 Unit prices, if any, are as follows: N/A ARTICLE 5 PAYMENTS 5.1 PROGRESS PAYMENTS 5.1.1 Based upon Applications for Payment submitted to the Owner by the Contractor and Certificates for Payment issued by the Contractor, the Owner shall make progress payments on account of the Contract Sum to the Contractor as provided below and elsewhere in the Contract Documents. 5.1.2 The period covered by each Application for payment shall be as follows: