OCR

AWARD: January 8, 1963 EXECUTED: January 11, 1963 COMMENCEMENT DATE: Within thirty (30) days after date of receipt of notice to proceed. NOTICE TO PROCEED: January 31, 1963 COMPLETION DATE: September 1967 ESTIMATED PROFIT: $6,000,000; Utah Construction & Mining Co. Share $1,500,000, MOBILIZATION EXPENSE: 310,000,000 allowed as advance. 85% of this amount, less 10% retention, will be paid monthly on proof, of expenditure. Balance will be included in final payment. METHOD OF PAYMENT: Monthly progress payments as the work proceeds, or at more frequent intervals if allowed by the Contracting Officer, based on quantities accomplished. Authorization may be made for payment for materials-delivered to the site or for preparatory work done. Ten percent (10%) shall be retained until final completion. However if, after half of the work has been done, satisfactory progress is being made, the Contracting Officer may authorize the remaining progress payments to be made in full, or may reduce the retention to 10% of the value of the remaining work to be done, until the amount retained equals l-l/2$ of the total contract. LIQUIDATED DAMAGES: In case of failure on the part of the Contractor to complete the work within the time fixed in the contract or any extensions thereof, the Contractor shall pay liqui¬dated damages to the Government as follows: