Reso 2010-1658 - Laserfiche WebLink

Home Browse Search

consequential) to which the claimant is entitled as a result of the occurrence of said event. No resolution of a claim for adjustment in the Guaranteed Maximum Price shall be effective until approved by the City Commission. No claim for an adjustment in the Guaranteed Maximum Price will be valid if not submitted in accordance with this Paragraph. 14.3 The value of any Work covered by a Change Order or of any claim for an increase or decrease in the Guaranteed Maximum Price shall be determined in one of the following ways: 14.3.1 Where the Work involved is covered by unit prices contained in the Contract Documents, by application of unit prices to the quantities of the items involved. 14.3.2 By mutual acceptance ofa lump sum (which may include an allowance for overhead and profit including any subcontractor fees). If the negotiated lump sum change order exceeds the percentages set forth for "Cost of Work," it must be accompanied by a detailed explanation justifYing the increase. 14.3 Cost Breakdown Required: Whenever the cost of any Work is to be determined pursuant to Paragraphs 13.4 or 13.5, CONTRACTOR will submit in form acceptable to Public Services Director an itemized cost breakdown together with supporting data. Whenever a change in the work is to be based upon mutual acceptance of a lump sum, whether the amount is an addition, credit, or no-change-in-cost, the CONTRACTOR shall submit an estimate substantiated by a complete itemized breakdown: 14.3.1 The breakdown shall list quantities and unit prices for materials, labor, equipment and other items of cost. ARTICLE 15 - PAYMENTS TO CONTRACTOR AND COMPLETION OF WORK 15.1 Progress Payments: 15.1.1 CONTRACTOR may requisition payments for Work completed during the project at intervals of not more than once a month. The CONTRACTOR'S requisition shall show a complete breakdown of the project components, the quantities completed and the amount due, together with a certification by the CONTRACTOR that the CONTRACTOR has disbursed to all subcontractors and suppliers their pro-rata shares of the payment out of previous progress payments received by the CONTRACTOR for all work completed and materials furnished in the previous period or properly executed releases of liens by all subcontractors, suppliers and materialmen who were included in the CONTRACTOR'S previous applications for payment, and any other supporting documentation as may be required by the Public Services Director or Contract Documents. Each requisition shall be submitted in triplicate to the Public Services Director for approval; CITY shall have fifteen (15) days to approve or disapprove the requisition. If the requisition is not approved, the reasons therefor shall be stated with particularity. The CITY shall 27