2018-90 Resolution - Laserfiche WebLink

Home Browse Search

the design, administrative and construction costs following PURVEYOR'S review and approval of MUNICIPALITY awarding the project construction contract. Actual Costs. Within forty-five (45) days after substantial completion of the entire Capital Improvement, MUNICIPALITY shall determine the actual cost of the water work portion including design, administration and construction of the Capital Improvement. MUNICIPALITY shall, within said forty-five (45) days, either 1) invoice PURVEYOR for any deficiency in the amount paid in advance; or 2) notify PURVEYOR of the amount of any overpayment based on its calculations. In the event of an underpayment, PURVEYOR shall remit the additional amount due to the MUNICIPALITY within forty- five (45) days of its receipt of MUNICIPALITY'S invoice. 2. Reimbursement of Overpayment. In the event of overpayment and following the PURVEYOR'S verification of the amount due, the PURVEYOR shall submit an invoice to the MUNICIAPLITY for reimbursement of the amount of overpayment. MUNICIPALITY shall remit payment of invoice to PURVEYOR within forty-five (45) days of receipt of PURVEYOR'S invoice. V. Reporting Requirements. MUNICIPALITY shall submit progress monthly reports to PURVEYOR. The first report shall be submitted one month after MUNICIPALITY issued its intent to take on the execution of the project. Thereafter, MUNICPALITY shall issue updates on a monthly basis until project close out. The monthly reports shall be in compliance with the format as specified by PURVEYOR which will be more fully defined within a specific project letter to be received by Municipality from the Division of Water Engineering Section that outlines reimbursement terms and reporting requirements. The monthly reports shall cover, but not be limited to the following: • Proposed start and finish dates of design, bidding process, and construction; • Estimated cost of design, construction, and project administration; • Percent of completion of design and construction; • Actual expenditure (cost) of design, construction, and project administration; and • Any complications, delay and delay causes, change orders, or deviation from the original scope. VI. Right to Audit Records. PURVEYOR shall have the right, during the period during which the subject records are required to be retained by MUNICIPALITY, to audit any of MUNICIPALITY's records related to any Capital Improvements performed pursuant to this Agreement, including financial and technical documentation. VII. Cooperation. The parties shall meet as required to ensure that both parties coordinate their efforts for the entire term of the Capital Improvement, and shall cooperate in exchanging any documents and information necessary for the successful completion of any Capital Improvements performed as well as the administration of the Agreement. The parties further agree to cooperate in amending these Terms and Conditions or the Agreement should it become 11