RE-BID ITB # 23-10-01 JOINT PROCUREMENT CENTRAL ISLAND

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ITB 23-03-01 Sunny Isles Beach Central Island Area Drainage Improvement and North Miami Beach Distribution System Watermain Replacements 6.2TheContractPriceconstitutesthecompensationpayabletoCONTRACTORforperforming the Work plus any Work done pursuant to a Change Order. All duties responsibilities and obligations assigned to or undertaken by CONTRACTOR shall be at CONTRACTOR’s expense without change in the Contract Price. ARTICLE 7 – PAYMENT PROCEDURES 7.1 CONTRACTORshall submit Applications for Payment in accordance with the Contract Documents. Applications for Payment will be processed by CITY as provided in the General Conditions. 7.2 Progress Payments. CITY shall make progress payments on account of the Contract Price on the basis of CONTRACTOR’s monthly Applications for Payment, which shall be stth submitted by the CONTRACTOR between the first (1) and the tenth (10) day after the end of each calendar month for which payment is requested. All progress payments will be made on the basis of the progress of the Work completed. 7.3 Prior to Final Completion, progress payments will be made in an amount equal to ninety five percent (95%) of the value of Work completed less in each case the aggregate of payments previously made. 7.4 Final Payment. Upon final completion of the Work in accordance with the General Conditions, as may be supplemented, the CITY shall pay CONTRACTOR an amount sufficient to increase total payments to one hundred percent (100%) of the Contract Price. However, not less than five percent (5%) of the Contract Price shall be retained until Record Drawings (as-built), specifications, addenda, modifications and shop drawings. Including all manufacturers’ instructional and parts manuals are delivered to and accepted by the CITY. 7.5 The CITY shall make payment to the CONTRACTOR in accordance with the Florida Prompt Payment Act, Section 218.70, Florida Statutes. ARTICLE8 –CONTRACTOR’S REPRESENTATIONS In order to induce the CITY to enter into this Agreement, CONTRACTOR makes the following representations upon which the CITY has relied: 8.1 CONTRACTOR is qualified in the field of public construction and in particular to perform the Work and services set forth in this Agreement. 8.2 CONTRACTOR has visited the Work Site, has conducted extensive tests, examinations and investigations and represents and warrants a thorough familiarization with the nature and extent of the Contract Documents, the Work, locality, soil conditions, moisture conditions and all year-round local weather and climate conditions (past and present), and, in reliance on such tests, examination and investigations conducted by CONTRACTOR and the CONTRACTOR's experts, has determined that no conditions exist that would in any manner affect the Proposed Price and that the project can be completed for the Proposed Price submitted within the Contract Time as defined in this Agreement. Furthermore, CONTRACTOR warrants and confirms that he is totally familiar with, understands and PAGE 8 OF 38