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provision, which shall not exceed 5%. For any adjustment to commence on the first day of any exercised option period, the Contractor's request for adjustment shall be submitted no later than ninety (90) days prior to expiration of the then current contract term. In no event will the price be increased or decreased by a percentage greater than the percentage change reflected in the C.P.I. as published by the U.S. Department of Labor. If no adjustment request is received from the Contractor, the City will assume that the Contractor has agreed the optional term may be exercised without pricing adjustment. Any adjustment request received after the commencement of a new option period may not be considered. The City reserves the right to negotiate lower pricing for the additional term(s) based on market research information or other factors that influence price. The City reserves the right to apply any reduction in pricing for the additional term(s) based on the downward movement of the applicable index. The City reserves the right to reject any price adjustments submitted by the Contractor and/or to not exercise any otherwise available option period based on the proposed price adjustments. Any continuation of the contract beyond the initial period, and any option subsequently exercised shall be at the sole discretion of the City, and not a right of the Contractor. Renewals shall be exercised only when such continuation is clearly in the best interest of the City. Should the Contractor decline the City's right to exercise the option period, the City may consider the Contractor in default which decision may affect that Contractor's eligibility for future contracts. 2.6 METHOD OF AWARD The term "lowest responsible and responsive Bidder" as used herein shall mean the Bidder whose bid is the lowest of those Bidders possessing the skill, ability, and integrity necessary for the faithful performance of the work, whose bid best serves the interests of and represents the best value to the City, as determined by the City Commission and/or the City Manager. The Bidder will also be evaluated as part of their "responsibleness" on their quality control plan, safety plan, and proposed project schedule. The City reserves the right to utilize any combination of the base bid, add alternates as they so desire to achieve the proper balance between the required improvements, desired improvements, and the City's available project budget. The City reserves the right to request per unit/each pricing of materials listed on the bid form for clarification or to purchase additional materials. Bidders will be evaluated by relevant experience, preferably with government agencies, successful past performance, no conflicts of interest, approach to the project, and whose bid best serves the interest of and represents the best value to the City in conformity with the criteria set. The City Manager may also reject all proposals received. Section 62-8 of the City Code provides that the City may consider the following: The ability, capacity, and skill of the Contractor to perform the Contract. The character, integrity, reputation, judgment, experience, and efficiency of