2023-03-14-minutes-solid-waste-and-maintenance

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Section 3.2. Term of Contract; Interim Period. Subject to the following sentence and to the Owner's termination rights under Section 3.3, the term of this Contract shall be equal to the term of the guarantee as defined in Schedule B for each phase of work, plus the Interim period. Nonetheless, the Contract shall be effective and binding upon the parties immediately upon its execution, and the period from Contract execution, and inclusive of the construction period and until the Commencement Date shall be known as the "Interim Period." All energy savings achieved during the Interim Period will apply towards the first year of the Guarantee Period. Section 3.3 Term of Monitoring and Verification Services. Monitoring and Verification Services ("M&V") are those services as set forth in Schedule B and shall begin upon the Commencement Date. M&V shall continue for the period defined in Schedule B and thereafter can be renewed at the Owner's discretion for one, three, or five-year terms for a fee to be negotiated with the ESCO at that time. After the initial minimum period, the M&V will be cancelled unless renewed by the Owner by providing at least sixty (60) days' advance written notice to ESCO of the Owner's intention to renew the M&V. Such cancellation will terminate this Contract as a whole, except for any remaining warranty obligations. The Owner understands, however, that the guaranteed energy savings, as set forth in Schedule B shall remain in effect only so long as ESCO provides such M&V. If the M&V is cancelled at any time other than the end of a contract year (defined as the period of time lasting 365 days from commencement and renewing upon expiration provided Energy Savings Guarantee is in effect) for reasons other than ESCO's default, ESCO shall have no Guaranteed Energy Savings obligation for that partial year. Section 3.4. Notice of Commencement of Energy Savings. A Notice of Commencement of Energy Savings ("NCES") shall be issued for each Phase of Work when the ESCO has installed and commenced operating all of the scope of work within the Phase of Work, exclusive of punch list items, and the equipment has been started up and commissioned per Schedule G (Systems Start -Up and Commissioning). The Owner shall have ten working days (10) to review the NCES and report any discrepancies to the ESCO. If the Owner does not respond within the ten (10) working day period the NCES shall be considered accepted by the Owner. For purposes of this section, working days shall be Monday through Friday excluding holidays as set by the Owner's calendar. SECTION 4. COMPENSATION TO ESCO Section 4.1. Measurement and Verification Fees. No later than thirty (30) days after the first NCES, the Owner shall pay to ESCO the M&V fee in the amounts and as scheduled in Schedule C. Section 4.2. Proiect Total. The Owner shall pay ESCO the Contract Sum for ESCO's performance of this Contract in accordance with the provisions for open pricing, billing procedures, and progress payments set forth in Sections 4.3, 4.5, and 4.6, respectively. The "Contract Sum" is the total of Construction Costs, ESCO Fees and other costs (as defined in Sections 4.7 and Schedule C) provided that in no event shall the "Contract Sum" exceed the amount shown as the "Guaranteed Maximum Implementation Cost" in Schedule C, Budget Summary Table, other than additional costs approved by the Owner. ESCO acknowledges and agrees that it is the purpose and intent of this Contract and all parties that the FIMs identified in the ESP be designed, installed, measured, and verified, all as specifically provided for in this ESCO (McKinstry)/OWNER/PERFORMANCE CONTRACT 4