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

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new Certificate of Acceptance shall be executed which date shall be the Commencement Date for purposes of this Contract as to those projects only. B. In the event the Owner issues change orders that increase costs, the amount of those cost increases shall be identified by ESCO and accounted for in a separate budget beyond the original GMIC [see Section 4.2]. It will be the Owner's responsibility to pay these costs as the Project is being constructed. ESCO shall use the mark-up structure indicated in Schedule C, Project Budget Summary Table, as the original basis for the pricing of change orders. However, if either party believes that the scale and/or scope of the change order is not properly reflected in the pricing in Schedule C, then the parties will negotiate a mutually agreed upon fee for the specific change order and record it in writing, which writing may be satisfied by authorized persons from both parties signing the change order. SECTION 5. PAYMENTS BY ESCO Section 5.1. Energy Savings Guarantee. ESCO has formulated and, subject to the adjustments provided for in Section 15 (Material Changes), has guaranteed the annual level of energy savings to be achieved as a result of the installation and operation of the Equipment and provision of services provided for in this Contract, such services being those specified in Schedule I (ESCO's Maintenance Responsibilities) and in accordance with the Savings Calculation Formula as set forth in Schedule E (Savings Measurement & Calculation Formulae; Methodology to Adjust Baseline). The Energy Savings Guarantee is set forth in annual increments for the term of the Contract as specified in Schedule B. The guarantee period ("Guarantee Period") for the Energy Savings Guarantee begins on the Commencement Date and continues for the term of this Contract, unless earlier terminated pursuant to this Contract. Section 5.2 Review and Reimbursement/Reconciliation. Annually, during the Guarantee Period, and no more than sixty (60) days after the end of the Guarantee year, ESCO shall perform a review and reconciliation to determine the actual achieved energy savings (subject to any adjustments made for Material Changes) when compared to the Energy Savings Guarantee for that Guarantee year and shall submit to the Owner a report with a precise calculation of savings. If ESCO has failed to achieve the annual Cost -Avoided Energy Savings Guarantee specified in Schedule B, ESCO shall pay to Owner the difference between the annual Cost -Avoided Energy Savings Guarantee and the amount of actual cost -avoided energy savings achieved at the Premises. Any payment due will be made by ESCO within thirty (30) days after signed acceptance of the annual report by the Owner. Interest at a rate equal to 4% per annum will accrue on all unpaid balances commencing ten (10) calendar days after the payment was due. In the event of any disagreement in the amount payable by ESCO, the Owner shall notify ESCO in writing of the alleged discrepancy within 30 days. Any amounts not in dispute shall be paid in accordance with this section. When the actual total cost -avoided savings in any one-year, during the Guarantee Period, exceeds the Energy Savings Guarantee as set forth in Schedule C, such excess savings shall be credited toward the actual achieved savings for the following year to the fullest extent allowed by law. Excess savings from any group of work can be credited to any other group of work within any one year. Also, excess energy savings in any one Guarantee year will be used to reimburse the ESCO for any payments made by ESCO to cover a shortfall in previous years on any phase of ESCO (McKinstry)/OWNER/PERFORMANCE CONTRACT 7