Reso 2026-4001 - Laserfiche WebLink

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(b) Payment to the Contractor shall be made at the Contract Unit Prices applicable to each integral part of the Contract. The Contract Unit Prices shall be full compensation for all costs associated with completion of all unit price work in full conformity with the requirements of the Contract Documents; (C) Where the quantity of Work with respect to any item that is covered by a Contract Unit Price is increased or decreased by more than twenty percent (20%) from the quantity of such Work indicated or estimated in the Contract Documents, an appropriate Change Order shall be issued to adjust the Contract Unit Price, if warranted and justified, and if fully supported by documentation submitted to the City and the Engineer / Architect and if a timely claim is made for same in accordance with the terms and provisions of this Contract. ARTICLE V PAYMENT OF THE CONTRACT PRICE 5.1 Schedule of Values 5.1.1. Within ten (10) calendar days of the effective date hereof, the Contractor shall submit to the City and to the Engineer / Architect a Schedule of Values allocating the Contract Price to the various portions of the Work. The Contractor's Schedule of Values shall be prepared in such form, with such detail, and supported by such data as the Engineer / Architect or the City may require to substantiate its accuracy. The Contractor shall not imbalance its Schedule of Values nor artificially inflate any element thereof. Any violation of this provision by the Contractor shall constitute a material breach of this Contract. The Schedule of Values shall be used only as a basis for the Contractor's Applications for Payment and shall only constitute such basis after it has been acknowledged in writing by the Engineer / Architect and the City. 5.2 Payment Procedure 5.2.1. The City shall pay the Contract Price to the Contractor as provided below. : 5.2.2. Progress payments shall be considered based upon the Contractor's Applications for Payment submitted to the Project Manager and upon Certificates for Payment subsequently issued to the City by the Project Manager. The City shall make progress payments to the Contractor on account of the Contract Price subject to the terms and conditions of the Contract, and in accordance with Florida's Prompt Payment Act. Each invoice or payment application must be accompanied by all supporting documentation and other information reasonably requested by City, including, but not limited to a Partial Release of Lien or Final Release of Lien as appropriate in the forms set forth in Chapter 713.20, Florida Statutes. Reference herein to Chapter 713, Florida Statutes is for convenience, and shall not be construed as a waiver of sovereign immunity or authority for imposition of liens against public property. Each progress payment shall be reduced by five percent (5%) retainage. Subject to other requirements of the Contract Documents, retainage shall be released after final completion of the Work and City's receipt of acceptable reports and other documentation including certification of payment to subcontractors, if any, and Page 8 of 44