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Cl� 5. Stage Construction. City will undertake construction of said underpass on a stage construction basis, as follows: Stage 1: Subject to the prompt execution of this Memorandum of Understanding, the City will arrange for final design and for construction of the underpass bridge structure only. a. Immediately upon execution of this agreement by all the parties, City will give notice to proceed to DeLeuw, Cather and Company to prepare detailed plans and specifications for Stage 1 with instructions to proceed on an accelerated basis to be completed in no more than eight (8) weeks. b. Upon receiving the completed plans and specifications for Stage 1, City shall immediately forward copies to SPTCo and WPRR. Failure of SPTCo or WPRR to respond with specific corrections within four (4) weeks after, receipt shall constitute approval for purposes of putting Stage 1 of the project out to bid. Notwithstanding anything to the contrary herein, City shall continue to work with the railroads to achieve reasonable requested change orders after the four (4) week period. C. Within nine months of execution of this agreement by all parties, or within four months after PUC approval, whichever comes later, City shall award a contract for construction of Stage 1. City's contract with the successful bidder shall specify that work is to be completed within 180 working days from date of award. d. City's contract for construction of Stage 1 shall provide for liquidated damages of at least Five Hundred Dollars ($500.00) per working day if Stage 1 is not completed and ready for reinstallation of WPRR rails within thirty (30) working days from its scheduled -completion date. Contractor shall be advised that SPTCo and WPRR are third party creditor beneficiaries of this liquidated damages provision in that railroads' use of the completed track consolidation all the way from approximately SP MP 42.08 to approximately SP MP 36.00 shall be delayed by the extent of such delay. City will pay the full amount of any liquidated damages which it may collect pursuant to said liquidated damages clause equally to WPRR and SPTCo within thirty (30) days of the time such liquidated damages are collected. City will not compromise the liquidated damages claim without at least 14 days prior notice to SPTCo and WPRR. - Stage 2: Consisting of the roadway approaches, grading, paving, lighting, drainage facilities, lowering of the adjacent roadway of Stanley Boulevard, and related roadway facilities, as necessary to allow vehicular traffic to utilize the bridge structure completed in Stage 1, as well as the construction of the two new public at -grade crossings, may be deferred pending arrangement by City of necessary financing. City's plans for Valley Avenue in conjunction - 3 -