Reso 2013-2040 - Laserfiche WebLink

Home Browse Search

entitled as a insult 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. The CONTRACTOR understands and agrees that the CrrY shall have the right and discretion to deny the approval of any Change Order, for any reason, despite the CONTRACTOR'S compliance with this Paragraph and/or the existence of an executed written Work Change Directive. If the CITY decides not to approve a Change Order for the work, then the CONTRACTOR will not be entitled to receive compensation under any theory of recovery whether at law or in equity. 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 of a 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. 14.4 Cost Breakdown Recuired. Whenever the cost of any Work is to be determined, CONTRACTOR will submit in form acceptable to City Manager 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. 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 during construction phase. 15.1.1 CONTRACTOR may requisition payments for Work completed during the project at intervals of not more than once a month. The CONTRACTOR shall submit a proposed schedule of values in a form acceptable to the Crl-Y and which will be required to be approved by the CITY before any design Work on this Project can commence. The proposed schedule of values shall be broken into two phases for design and for construction. Once approved all applications for payment shall be submitted in a form that shows 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 SID 28 1' �J