Reso 2002-433 - Laserfiche WebLink

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13.2 The Contract may be terminated by the Owner for cause as provided in Article 14 of AlA Document A20 1-1997. The amount, if any, to be paid to the Contractor under Subparagraph 14.2.4 of AlA Document A201-1997 shall not cause the Guaranteed Maximum Price to be exceeded, nor shall it exceed an amount calculated as follows: 13.2.1 Take the Cost of the Work incurred by the Contractor to the date of termination; 13.2.2 Add the Contractor's Fee computed upon the Cost of the Work to the date of termination at the rate stated in Subparagraph 5.1.2 or, if the Contractor's Fee is stated as a fixed sum in that Subparagraph, an amount that bears the same ratio to that fixed-sum Fee as the Cost of the Work at the time of termination bears to a reasonable estimate of the probable Cost of the Work upon its completion; and 13.2.3 Subtract the aggregate of previous payments made by the Owner. 13.3 The Owner shall also pay the Contractor fair compensation, either by purchase or rental at the election of the Owner, for any equipment owned by the Contractor that the Owner elects to retain and that is not otherwise included in the Cost of the Work under Subparagraph 13.2.1. To the extent that the Owner elects to take legal assignment of subcontracts and purchase orders (including rental agreements), the Contractor shall, as a condition of receiving the payments referred to in this Article 13, execute and deliver all such papers and take all such steps, including the legal assignment of such subcontracts and other contractual rights of the Contractor, as the Owner may require for the purpose of fully vesting in the Owner the rights and benefits of the Contractor under such subcontracts or purchase orders. 13.4 The Work may be suspended by the Owner as provided in Article 14 of AlA Document A20 1-1997; in such case, the Guaranteed Maximum Price and Contract Time shall be increased as provided in Subparagraph 14.3.2 of AlA Document A201- 1997 except that the term "profit" shall be understood to mean the Contractor's Fee as described in Subparagraphs 5.1.2 and Paragraph 6.4 of this Agreement. ARTICLE 14 MISCELLANEOUS PROVISIONS 14.1 Where reference is made in this Agreement to a provision AlA Document A201-1997 or another Contract Document, the reference refers to that provision as amended or supplemented by other provisions of the Contract Documents. 14.2 Payments due and unpaid under the Contract shall bear interest from the date payment is due at the rate stated below, or in the absence thereof, at the legal rate prevailing from time to time at the place where the Project is located. (Insert rate of interest agreed upon. if any.) 14.2.1 Payments due and un,paid under the Contract shall bear interest from the date payment is due at a rate equal to 2% per annum plus the prime rate of interest as published by The Wall Street Journal. (Usury laws and requirements under the Federal Truth in Lending Act. similar state and local consumer credit laws and other regulations at the Owner's and Contractors principal places of business, the location of the Project and elsewhere may affect the validity of this provision. Legal advice should be obtained with respect to deletions or modifications, and also regarding requirements such as written disclosures or waivers.) 14.3 The Owner's representative is: (Name, address and other information.) Christopher J. Russo City of Sunny Isles Beach 17070 Collins Avenue. Suite 250 Sunny Isles Beach. Florida Phone (786) 202-1131 14.4 The Contractor's representative is: (Name, address and other information.) James Marshiano 560 Village Boulevard. Suite 120 West Palm Beach. Florida 33409 Phone (561) 686-5511 Fax (561) 686-7774 ~ AlA DOCUMENT AlII -OWNER - CONTRACTOR AGREEMENT - 1997 EDITION - AlA - COPYRIGHT 1997 - THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE N.W., WASHINGTON, D.C. 20006-5292. WARNING: Unlicensed photocopying violates U.S. copyright laws and will subject the violator to legal prosecution. This document was electronically produced with permission of the AlA and can be reproduced without violation until the date of expiration as noted below. expiration as noted below. expiration as noted below. User Document: alII city of sunny.aia -- 4/11/2002. AlA License Number 1000746, which expires on 8/8/2002. Electronic Format All 1-1997'1 \, . 12- u