2018-090 Resolution - Laserfiche WebLink

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the design, administrative and construction costs following PURVEYOR'S review and approval 0fMUNICIPALITY awarding the project construction contract. Actual Costs. VV|Lh|O forty-five (45) days after substantial conlo|eUOn of the entire Capital Improvement, MUNICIPALITY shall determine the actual cost of the water work portion iOdUd|Dg design, administration and COnStrU{1i0n of the Capital Improvement. MUNICIPALITY Shd||, within said forty-five (45) days, either 1\ invoice PURVEYOR for any deficiency in the GDlOunL paid in advance; or 2> notify PURVEYOR of the amount Of any overpayment based on its calculations. In the event of an underpayment, PURVEYOR 9hd|| remit the additional amount due tD the MUNICIPALITY within forty- five /45\ days of its receipt 0fMUNICIPALITY'S invoice. 2. Reimbursement of Overp AyMent. In the event Ofoverpayment and following the PURVEYOR'S verification of the amount due, the PURVEYOR shall submit an invoice to the MUNIClAPLITYfor reimbursement 0fthe amount Ofoverpayment. MUNICIPALITY shall n2[D|t payment Ofinvoice Ln PURVEYOR within forty-five (45) days of receipt of PURVEYOR'S invoice. V.me -MUNICIPALITYshallshallY �submit progress monthly reports to PURVEYOR. The first n3pO,tsho|| be submitted one month after MUNICIPALITY issued its intent to take on the execution of the project. Thereafter, MUNI[PALITY shall issue updates on a rDOO1h|y basis until project close out. The monthly reports gh8|| 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 S8(1i0D that outlines reimbursement terms and reporting requirements. The nnVOth|y 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; m Percent ofcompletion of design and construction; • Actual expenditure /[0st\ 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 toany Capital Improvements performed pursuant hzthis Agreement, including financial and technical documentation. VII. CooDeration. 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 becorne 11