Reso 2024-3655 - Laserfiche WebLink

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It. Akil-1. FIRST AMENDMENT TO THE AGREEMENT BETWEEN THE -CITY OF SUNNY ISLES BEACH AND ACADEMY BUS. LLC 1 Ne GQWM=A0.-1Q21-61 This Pim Amendment to the Agreement between the CITY OF SUNNY ISLES BEACR ("City") and ACADEMY BUS, LLC ("Contractor') executed this & '' y of March, 2022, is made a part ofthe original Agreement between the parties dated May 25, 2021("the Agreement"), between the City and Contractor attached hereto as Attachment "A" whose Federal Identification # is 22277038. The City and Contractor hereby agree as follows: 1. EQUITABLE AR USTMENT. Section 4 of the original Agreement, entitled "Compensatlon", Is hereby amended to include subsection (g) as set forth below: (g) F4ultable Adjustment. As a result of extreme or unforeseen volatility in fuel prices, the City may, in Its sole discretion, permit an equitable adjustment in the compensation paid to the Contractor upon the Contractor's request, provided the following criteria are satisfied: 1. the volatility is due to causes wholly beyond the Contractor's control, and not due to any acts or omission of Contractor; ii. the volatility affects the marketplace or industry, not just the Contractor's source of supply; Ill. the effbat on pricing or availability of supply is substantial (effect on pricing must exceed the Contract price by at least 1004); and iv. the volatility so affects the Contractor that continued performance of the Contract would result in substantial loss. Any adjustment shall require irrefutable written documentation submitted to the Purchasing Administrator. The maximum equitable adjustment permitted shall be a five percent (5%) fuel surcharge. The Contractor may not request, and shall not be entitled to, the fitel surcharge described herein in the event that fuel prices fall below the January 2022 diesel average of $3.72 per gallon according to the U.S. Energy information Administration, Bast Coast (PADD 1) Gasoline and Diesel Retail Price. 2. OTHER pBMSIONS 1[2EMAIN IN EFFECT._ Except as specifically modified herein, all terms and conditions of the original Agreement between the parties shall remain in full force and effect. 3. CONFLICTING PROVISIONS. The terns, statements, requirements, and provisions contained in this First Amendment shall prevail and be given superior effect and priority over any conflicting or inconsistent term, statement, requirement or provision contained in any other document or attachment, including but not limited to Attachment "A". IN WITNESS WI[EREOF, the parties hereto have executed thisy document as of the date mentioned above. 1 Signa e "ere PrintName Academy Bus . Phst Amendment