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2023-050 Resolution
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2023-050 Resolution
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5/5/2023 1:03:58 PM
Creation date
5/5/2023 12:58:00 PM
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North Olmsted Legislation
Legislation Number
2023-050
Legislation Date
5/3/2023
Year
2023
Legislation Title
Leopardo Energy Contract
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§ 2.3 Substantial Completion <br />§ 23.1 Subject to adjustments of the Contract Time as provided in the Contract Documents, the Contractor shall <br />achieve Substantial Completion of the entire Work not ]mer than six hundred twenty (620) calendar days from the <br />date of commencement of the Work. <br />§ 2.3.2 Subject to adjustments of the Contract Time as provided in the Contract Documents, if portions of the Work <br />are to be completed prior to Substantial Completion of the entire Work, the Contractor shall achieve Substantial <br />Completion of such portions by the following dates: <br />Portion of Work Substantial Completion Date <br />ARTICLE CONTRACT SUM <br />§ 3.1 The Owner shall pay the Contractor the Contract Sum in current funds for the Contractor's performance of the <br />Contract. The Contract Sum shall be the Stipulated Sum, in accordance with Section 3.2 below. <br />§ 3.2 The Stipulated Sum shall be three million nine hundred sixty-two thousand ninety five dollars ($3,962,095), <br />subject m additions and deductions as provided in the Contract Documents but that Stipulated Sum expires if Owner <br />has not confirmed financing to Contractor within ninety (90) days of the EDective Done. <br />ARTICLE PAYMENT <br />§ 4.1 Progress Payments <br />§ 4.1.1 For all payments after the Initial Payment of Section 15.2.1 of this Agreement, based upon Applications for <br />Payment submitted to the Owner by the Contractor, the Owner shall make progress payments on account of the <br />Contract Sum to the Contractor as provided by Ohio Revised Code § 4113.61. <br />§ 4.1.2 The period covered by each Application for Payment shall be one calendar month ending on the last day of the <br />month. <br />§ 4.13 Provided that an Application for Payment is received by Owner not later than the 30th day of a month, the <br />Owner shall make payment of the approved amount to the Contractor not later than the 30th day of the following <br />month. If an Application for Payment is received by the Owner atter the date fixed above, payment shall be made by <br />the Owner not later than thirty (30) days after the Owner receives the Application for Payment. <br />§ 4.1.4 Payments due and unpaid under the Contract shall bear interest from the date payment is due, at the legal rate <br />prevailing from time to time at the place where the Project is located. <br />§ 4.2 Final Payment <br />§ 4.2.1 Final payment, constituting the entire unpaid balance of the Contract Sum, shall be made by the Owner to the <br />Contractor when the Contractor has fully performed the Contract except for the Contractor's responsibility to correct <br />Work as provided in Section 18.2, and m satisfy other requirements, if any, which extend beyond final payment. <br />§ 4.2.2 The Owner's final payment to the Contractor shall be made no later than thirty (30) days after Contractor's <br />submission of Contractor's final Application for Payment. <br />ARTICLE 5 <br />Intentionally deleted <br />ARTICLE6 ENUMERATION OF CONTRACT DOCUMENTS <br />§ 6.1 The Contract Documents are defined in Article 7 and, except for Modifications issued after execution of this <br />Agreement, are enumerated in the sections below in this Article 6. <br />§ 6.1.1 This Agreement. <br />§ 6.1.2 Additional documents forming part of the Contract Documents: <br />.1 Attachment 1, Scope of Work <br />.2 Attachment 2, Performance Guarantee <br />Page 3 of 18 <br />
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