Reso 2016-2525 - Laserfiche WebLink

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Completion for Work on Collins Avenue before March 31, 2017. However, early completion bonuses shall not, in the aggregate, exceed Thirty One (31) calendar days for a total maximum early completion bonus of One Hundred Two Thousand Three Hundred Dollars ($102,300.00) for Work completed on Collins Avenue before March 31, 2017. Any reduction in the scope of Work, evidenced by written change order, shall commensurately reduce the Contract Time. ARTICLE 3. CONTRACT AMOUNT, PROGRESS PAYMENTS AND FINAL PAYMENT 3.1 The City shall pay to the Contractor, for the faithful performance of all Work in connection with this Project the total amount not to exceed Six Million Eight Hundred Thirty Thousand Dollars (Sa.6,830,000.00). Payment shall be made pursuant to approved applications for payment approved by the City. Payment shall be made within thirty(30)days after the City's receipt of Contractor's Application for Payment, approved by the City, and accompanied by sufficient supporting documentation, and containing sufficient detail, to allow a proper audit of expenditures, should the City require one to be performed. 3.2 Contractor may make Application for Payment for Work completed during the Project in accordance with Article 14.3 of the General Conditions. (A copy of the General Conditions is attached hereto as Exhibit "A" and incorporated hereby by reference.) Contractor's Application for Payment shall include partial release(s) of liens or consent of Surety relative to the portion of the Work, which is the subject of the Application for Payment and any other information required by the City. Each Application for Payment shall be submitted in triplicate to the City for approval. 3.3 The City may retain a portion of the payment amount otherwise due to the Contractor in accordance with Article 14.3 paragraph C of the General Conditions at Exhibit "A" and Section 00800 of the Supplementary General Conditions. (A copy of the Supplementary General Conditions is attached hereto as Exhibit "B" and incorporated hereby by reference.) 3.4 The City may withhold, in whole or in part, payment to such extent as may be necessary to protect itself from loss on account of: 3.4.1 Defective Work not remedied by Contractor. 3.4.2 Claims filed or reasonable evidence indicating probable filing of claims by other parties against Contractor or the City because of Contractor's performance. 3.4.3 Failure of Contractor to make payments properly to Sub-Contractors or for material or labor. 3.4.4 Liquidated damages and costs incurred by the City for extended construction administration. 3.4.5 Failure of Contractor to comply with other provisions of this Agreement. 3.5 Final payment shall be made only after the City has reviewed and approved the final application for payment. The acceptance of final payment shall constitute a waiver of all claims by Contractor, except those previously made in strict accordance with the provisions of the Agreement and identified by Contractor as unsettled at the time of the application for final payment.