OCR

Continuing Education Center University of Nigeria Page 2 COMMENCEMENT DATE:_June 29, 1963 DATE:_December 29, 1964 ESTIMATED PROJECT: The entire project has been subcontracted to Taylor- Woodrow of Nigeria at a lump sum of D293,444 ($821,643) Against the resulting gross profit of B14,556 ($40,756) we will stand the cost of one-man representation at the site during the contract term. Our net profit to be booked is anticipated to be zero. MOBILIZATION EXPENSE: Monthly progress payments from estimates prepared by Contractor and certified by Architect. Payment made direct to Contractor by A.I.D. The contract number "A.I.D. 620-84" must be referred to in all correspondence with the Agency. Payments will be in pounds sterling. It is anticipated that our out-of-pocket costs will be financed by our subcontractor during the interim periods that any investment would be required. LIQUIDATED DAMAGES: B150 per week ($420.00) RETENTION: 10% up to B20,000 ($50,000) BONDS: None (If a performance bond is required the cost will for the account of the Owner.)