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

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Contract, for the Guaranteed Maximum Implementation Cost (GMIC), and ESCO is responsible to achieve this end, for no additional cost, except as specifically provided for in this Contract. Section 4.3. Open Book Pricing. Open book pricing is required, such that ESCO will fully disclose all direct construction costs, including all Subcontract Costs and Equipment Costs. These costs, excluding ESCO fixed fees (fixed fees: Investment Grade Audit, Design, Construction Administration, Overhead, Fees, ESCO M&V Costs, Warranty Management and Construction Bond) will be reconciled to the Owner upon final completion in the event of any construction cost savings. ESCO will maintain cost accounting records on work performed under actual costs for material. ESCO will afford the Owner access to these records and all related project records and preserve all project records for a period of three (3) years after final payment under this Contract. Section 4.4. Billing Information Procedure. Payments due to ESCO under this Section 4 shall be calculated in accordance with the provisions of the Pricing Breakdown shown in Schedule C, Budget Summary Table. Except for the cost of the DES and M&V costs, ESCO shall provide the Owner with an itemized monthly invoice of amount due along with any other evidence reasonably required by the Owner to demonstrate amount of required payment. ESCO fixed fees (other than ESCO M&V costs) shall be invoiced and substantiated on a percent complete basis. All invoices submitted by ESCO, as shall be due and payable within thirty (30) days of receipt of the invoice. The Owner shall have ten (10) working days from the date of receipt of said invoices and all supporting documentation to notify ESCO of any irregularity in the billing. The failure of the Owner to provide notice of disagreement within said ten (10) working -day period shall be deemed agreement with the information or calculations set forth in that particular invoice, except in cases where Owner does not have full information and later learns of additional information that would cause it to disagree with a particular invoice. The Owner shall remit payment within ten (10) calendar days after the later of receipt of said invoice. Interest at a rate equal to the maximum rate permitted by law will accrue on all unpaid balances commencing ten (10) calendar days after invoice is due. For purposes of this section, working days shall be Monday through Friday excluding holidays as set by the Owner's calendar. ESCO will provide a retention bond at ESCO's expense. Section 4.5. Progress Pam. The application for progress payment shall be made monthly in a form similar to that attached hereto as Exhibit V (Progress Payment Application) and shall constitute a representation by ESCO to the Owner that the design and construction have progressed to the point indicated, and ESCO is entitled to payment in the amount requested. At the time of the Commencement Date, and upon receipt by the Owner of the close out documents identified in Exhibit IV (Close Out Documents), the Owner shall pay to ESCO any outstanding invoices. Section 4.6. Cost of Work (See Schedule C, Project Budget Summary Table). Costs of the Work are: A. Subcontract Costs. These shall include payments made by ESCO to subcontractors in accordance with the requirements of the subcontracts, including sales tax and change orders. Subcontract fees can include, but are not limited to, fees for professional services as required to meet the Owner's requirements, or to perform particular site or building specific studies as requested by the Owner. Subcontract fees can ESCO (McKinstry)/OWNER/PERFORMANCE CONTRACT 5