Reso 2023-3557 - 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 sum of material and labor costs as defined under Material costs and Labor costs below, but excluding equipment rental costs and bond allowance. (e) Contractor's profit may then be added into the above material costs and labor costs, including the Overhead allowance at the rate of SEVEN PERCENT (7%) of the sum of those costs, excluding equipment rental costs. 10.3.3.5 Bond Allowance: For maintaining the Public Construction Bond at 100% of the Contract Price, a sum of ONE PERCENT (1%) of the total cost of the change (including material, labor, overhead and profit, and equipment rental) shall be allowed on all change orders. 10.3.3.6 Material costs actually recorded by the Contractor and the subcontractor as materials are delivered to the site and, as evidenced from originally receipted invoices, listing appropriate quantities and unit prices. Records in proper form shall be maintained and made available to the City's Representative and the City at all times. Material costs shall be at actual cost inclusive of conduit, couplers, elbows, glue, end caps, pull string / tape, and delivery charges based on the Consumer Pricing Index (CPI) effective August 1, 2023. The parties agree that a subsequent evaluation of material costs will be accomplished every sixty (60) days after the issuance of the Notice to Proceed to assess variances in market pricing for material. Should it become necessary or proper during the term of the Contract to adjust the Contract Price for variations in material costs based upon the CPI, the parties agree that an equitable adjustment to the material costs for either increases or decreases shall be accomplished by either a change in the Contract Price utilizing a Change Order, or by contingency expenditure. 10.3.3.7 Labor Costs represented by the actual wages paid to all laborers, apprentices, journeymen, and foremen involved in and necessary to completing the particular construction operations, for each day and every hour such labor teams and foremen are actually employed on the extra work required, including the net cost of insurance, social security and Worker's Compensation. Records in proper form shall be maintained and be made available to the Engineer/Architect and the City at all times. 10.3.3.8 Rentals for special equipment or machinery such as power driven roller, tractors, trucks, shovels, drills, mixers, pumps, hoists, etc. required for the economical performance of the work at reasonable rental prices agreed upon before work commences, shall be allowed to the Contractor and subcontractors by the City's Representative and the City for each and every hour such special equipment is in use on the particular work. To the sum of such equipment rentals, no additional percentage shall be added. 10.3.3.9 Owned Equipment for certain owned heavy or specialized equipment (defined as tools and equipment with an individual purchase cost of more than Ten Thousand Dollars ($10,000)) brought on to the job site specifically 27