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Exhibit K MILESTONES AND LIQUIDATED DAMAGES1. The parties hereby agree that the damages which CITY will sustain as a result of Contractors failure to meet Contract Milestones are difficult or impossible

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What is milestones and liquidated damages?

Milestones are specific project goals or achievements that must be reached within a certain timeframe. Liquidated damages are a predetermined amount of money that must be paid if milestones are not met.

Who is required to file milestones and liquidated damages?

The parties involved in a contract or project are typically required to file milestones and liquidated damages.

How to fill out milestones and liquidated damages?

Milestones and liquidated damages are typically filled out by detailing the specific goals to be achieved and the predetermined amount of money to be paid if those goals are not met.

What is the purpose of milestones and liquidated damages?

The purpose of milestones and liquidated damages is to ensure that projects are completed on time and to provide a financial incentive for meeting project goals.

What information must be reported on milestones and liquidated damages?

Milestones must include specific project goals and deadlines, while liquidated damages must include the predetermined amount of money to be paid if those goals are not met.

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