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manner,information requued by the Contractor and to make payments to the Contractor in accordance with the requirements of the Contract Documents. ARTICLE 4 DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION § 4.1 The date of commencement of the Work shall be the date of this Agreement unless a different date is stated below or provision is made for the date to be fixed in a notice to proceed issued by the Owner. (Insert the date of commencement,if it diff'ers from the date of this Agreement or,if applicable,state that the date will be frxed in a notice to proceed.) Date of Commencement shall be one(1)business day after the last of the following dates to occur: Contractor's receipt of executed contract,Contractor's receipt of recorded copy of Notice of Commencement,receipt of all required permits,Contractor's receipt of verification of Owner's financing. If,prior to commencement of the Work,the Owner requires time to file mortgages and other security interests,the Owner's time requirement shall be as follows: § 4.2 The Contract Time shall be measured from the date of commencement. I § 4.3 The Contractor shall achieve Substantial Completion of the entire Work not later than One Hundred Fifty ( 150 )days from the date of commencement,or as follows: (Insert number of calendar days.Alternatively, a calendar date may be a{sed when coordinated with the date of commencement.Ijappropriate, insert requirements for earlier Substantial Completion oJcertain portions of the Work.) Portion of Work Substantial Completion date ,subject to adjustments of this Contract Time as provided in the Contract Documents. (Insert provisions, if any,for liquidated damages relating to failure to achieve Substantial Completion on time, or for bonus payments for early completion of the Work.) I See section 15.6.1. ARTICLE 5 CONTRACT SUM § 5.1 The Owner shall pay the Contractor the Contract Sum in current funds for the Contractor's performance of the Contract.The Contract Sum is the Cost of the Work as defined in Article 7 plus the Contractor's Fee. § 5.1.1 The Contractor's Fee: (State a lump sum,percentage of Cost of the Work or other provision for determining the Contractor's Fee.) � Lump sum of$70,000.00(based on$14,000.00 per month). § 5.1.2 The method of adjustment of the Contractor's Fee for changes in the Work: I5%of the Cost of the Work,plus 1.23%of the cost of subcontracted work for Subguard,0.5%of Cost of Work for GL insurance,0.5%of Cost of Work for Builder's Risk insurance. § 5.1.3 Limitations,if any,on a Subcontractor's overhead and profit for increases in the cost of its portion of the Work: I 15%of the subcontractor's Cost of Work Ir1it AIA Document A102T"—2007(fortnerly A111 TM-1997).Copyright�O 1920,1925,1951,1958,1961,1963,1967,1974,1978,1987,1997 and 2007 by The American Institute ofArchitects.All rights reserved.WARNING:This AIA�Document is protected by U.S.Copyright Law and International Treaties. 3 Unauthorized reproduction or distribution of this AIA� Document,or any portion of it,may result in severe civil and criminal penalties,and will be � prosecuted to the maximum extent possible under the law.This document was produced by AIA sofhvare at 15:32:56 on 1 210 4/201 3 under Order No.7858055208_1 which expires on 07/15/2014,and is not for resale. User Notes: (827749426)