## Liquidated Damages: Contractor recognizes that EPIC shall suffer financial loss for which Contractor shall be liable if the Work is not completed within the Contract Time and by the Key Completion Times specified in the Contract Documents, including any authorized extensions. Contractor and EPIC also recognize the delays, expense and difficulties involved in proving the actual loss suffered by EPIC if the Work is not completed on time. Accordingly, instead of requiring any such proof, EPIC and Contractor agree that as liquidated damages for delay (but not as a penalty), Contractor shall pay EPIC the sum(s) shown below, per day, for each day that expires after the applicable Key Completion Time until the Work is completed in accordance with the Contract Documents. - A. Phase 1: No Liquidated Damages associated with Phase 1. - B. Phase 2: If EPIC elects to proceed to Phase 2, liquidated damages are to be determined and set forth in the Phase 2 Work and Pricing Amendment. > [!danger]- Language Replaced by Amendment 1 > **Liquidated Damages:** Contractor recognizes that EPIC WATER AUTHORITY shall suffer financial loss for which Contractor shall be liable if the Work is not completed within the [[Contract Time]] and by the [[Key Completion Times]] specified in the [[Contract Documents]], including any authorized extensions. Contractor and EPIC WATER AUTHORITY also recognize the delays, expense and difficulties involved in proving the actual loss suffered by EPIC WATER AUTHORITY if the Work is not completed on time. Accordingly, instead of requiring any such proof, EPIC WATER AUTHORITY and Contractor agree that as liquidated damages for delay (but not as a penalty), Contractor shall pay EPIC WATER AUTHORITY the sum(s) shown below, per day, for each day that expires after the applicable [[Key Completion Times|Key Completion Time]] until the Work is completed in accordance with the [[Contract Documents]]. ^3a0514 > A. [[Phase 1]]: No Liquidated Damages associated with [[Phase 1]]. B. [[Phase 2]]: If EPIC WATER AUTHORITY elects to proceed to [[Phase 2]], ==liquidated damages are to be determined and set forth in the [[Phase 2 Work and Pricing Amendment]].== ^859f2b