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Accordingly, Liquidated Damages have been negotiated and agreed to by both parties as <br /> set forth herein. Contractor shall, accordingly, prosecute all work specified herein <br /> diligently, using such means and methods as will assure full and satisfactory completion. <br /> The amount of liquidated damages assessable by the Town upon any material breach of <br /> the terms hereof by the Contractor is Five Hundred Dollars ($500.00) per day for each <br /> day, or portion thereof, upon which such breach persists after written notice from the <br /> Town thereof. Said Liquidated Damages shall be cumulative and may, at the Town's <br /> option, be deducted, in whole or in part, as a credit from any amounts then owed by the <br /> Town to the Contractor or which may have been paid to the Contractor under this <br /> Agreement. If no amounts are then owed to Contractor, Contractor shall forthwith pay <br /> to Owner the amount of liquidated damages upon written demand therefor. The <br /> liquidated damages shall cease once the Contractor has fully and completely remedied <br /> any breach of its duties and obligations hereunder. <br /> IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to be <br /> executed on the day and year referenced below. <br /> GOTTA DO CONTRACTING LLC TOWN of MASH PE E <br /> By: By its Town Manager: <br /> Rodney C. Collins <br /> Printed Name and Title <br /> Dated: Dated: <br /> 5 <br />