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LD = Liquidated Damage Value <br /> V = Bid Value remaining at the date of breach of Contract, <br /> which is the unpaid portion of the Contract Price <br /> ID = Initial Deposit paid at date of Contract that has not been <br /> applied to timber payments <br /> R = Unamortized value of roads constructed based on City's <br /> appraised value of road cost for roads built but not utilized <br /> by Purchaser prior to breach of Contract <br /> C = Charges assessed for Contract requirements completed <br /> prior to breach of Contract but not paid for <br /> A = Administrative fee of Two Thousand Five Hundred <br /> Dollars ($2,500.00) <br /> c. In no event shall the liquidated damage be less than zero. Interest on the liquidated <br /> damage is owed from the date of breach until final payment, calculated using the <br /> following formula: <br /> I= rxLDxN <br /> Where: <br /> LD = Liquidated Damage Value <br /> I = Interest <br /> r = One percent(1%)per month <br /> N = Number of calendar days from date of breach to time of <br /> payment <br /> [Signatures on following page) <br /> Page 31 of 34 <br /> 4/15/21 Agreement No.2021-01 <br />