Reso 2023-3503 - Laserfiche WebLink

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City of Sunny Isles Beach 18070 Collins Avenue, Sunny Isles Beach, Florida 33160 (305) 947-0606 phone (305) 949-3113 Fax in the forms required or requested by the City, the City's Representative, or the City's Consultant Engineer. 3.3 Time is of the Essence 3.3.1 All limitations of time set forth in the Contract Documents are of the essence of this Contract. 3.4 The Terms of Sections 1.8, 7.15, and 7.5 entitled "Compliance with Laws", "Indemnity" and "Warranty", respectively, shall survive the expiration or termination of this Agreement. ARTICLE IV CONTRACT PRICE 4.1 The Contract Price 4.1.1 The City shall pay, and the Contractor shall accept, as full and complete payment for all of the Work required herein, the fixed sum of Seven Hundred Forty -Five Thousand Nine Hundred Ninety Dollars and Fifty -One Cents ($745,990.51). The fixed sum set forth in this Paragraph 4.1.1 shall constitute the Contract Price which shall not be modified except by Change Order as provided in this Contract. 4.2. Contingency 4.2.1 In addition to the Contract Price set forth in Paragraph 4.1.1, there shall be a contingency in the amount of Seventy -Four Thousand Five Hundred Ninety -Nine Dollars and Five Cents ($74,599.05). The contingency accounts for all labor, materials, equipment, overhead, and services necessary for modification or extra work.required to complete the Work because of unforeseen conditions, unforeseen conflicts between existing elements of work and the proposed work; for minor changes required to resolve any unforeseen conditions, Revised Regulations, Technological and Products Development, Operational Changes, Schedule Requirements, Program Interface, Emergencies, and Other Miscellaneous Costs, and for adjustments to estimated quantities installed, and associated time related to the Work. Unforeseen conditions or conflicts as used in this Paragraph 4.2.1, are those conditions which could not have been determined or ascertained from a thorough and careful examination and inspection of the site as provided by Paragraph 1.5.8. The disbursement of all or part of the contingency is entirely at the discretion of the City and must be authorized by the City's Representative and approved by the City. ARTICLE V PAYMENT OF THE CONTRACT PRICE 5.1 Schedule of Values 5.1.1 At least seven (7) days before the first Pre -Construction Meeting, the Contractor shall submit to the City and to the City's Representative a Schedule of Values allocating the Contract Price to the various portions of the Work in conformance to the revised bid form