Resolution 2017-67 - Laserfiche WebLink

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SECTION 3. CONTRACT AMOUNT. In consideration of the faithful performance by Design -Build Firm of the Work to the full satisfaction and acceptance of City, City shall pay the Design -Build Firm, in accordance with Exhibit U, Fee Schedule, for Work requested and rendered under this Agreement, a total not to exceed nine hundred and sixty one thousand six hundred DOLLARS, $961,600 ( "Total Contract Amount"). A. Preconstruction Phases fees. For the performance of the design services set forth herein and for profit and overhead related to these services, a total not to exceed fee of $127,900 shall be paid to the Design -Build Firm. The Preconstruction Phase Fee for the Project shall be paid in monthly payments. The first monthly payment shall become due thirty (30) days following the issuance by the City of the Notice To Proceed with design services for the Project and monthly thereafter based on the project schedule and approval by City of design deliverables. B. Construction Phase Fee GMP. Prior to commencement of the Construction Phase of the Project, the Design -Build Firm will fix a final GMP, guaranteeing the maximum cost to the City for the cost of the Work and the Design -Build Firm's fees. Such GMP will be guaranteed by the Design -Build Firm, subject only to modification for changes in the Work as provided in this Agreement. The final GMP shall be presented to the Owner for approval and shall include such information as required by the City. Acceptance of the GMP by the Owner shall be done by a mutual written GMP Amendment to this Agreement. Upon execution of the GMP Amendment, the GMP shall be part of the Contract Documents, shall supersede all prior summaries, schedules of values and estimates of construction cost; and will be subject to modification only for changes in the Work as provided in this Agreement. The Construction Phase Fee shall be paid in monthly payments. The first monthly payment shall become due thirty (30) days following the issuance of the Construction Phase Notice to Proceed by the City. The final monthly payment shall be paid only when construction of the Project is finally completed and accepted by the City, and only after final settlement and all other conditions to final payment have been satisfied. If construction is authorized only for a part of the Project, the fee paid shall be proportionate to the amount of work authorized by the City. SECTION 4. BONDS. A. Design -Build Firm shall provide Performance and Labor and Material Payment Bonds, in the form prescribed in Exhibit B, in the amount of one hundred (100%) of the Total Contract Amount, the cost of which shall be paid by Design -Build Firm. B. If the surety for any bond furnished by Design -Build Firm is declared bankrupt, becomes insolvent, its right to do business is terminated in the State of Colorado, or it ceases to meet the requirements imposed by the Contract Document, the Design -Build Firm shall, within five (5) calendar days thereafter, substitute another bond and surety, both of which shall be subject to the City's approval. Failure by the Design -Build Firm to maintain its bonds in full force and effect at all times, including the warranty period, shall be grounds for termination of the Agreement. SECTION 5. CONTRACT TIME AND LIQUIDATED DAMAGES. A. Time is of the essence in the performance of the Work under this Agreement. Design - Build Firm shall commence the Work within ten (10) calendar days from the 7