Agenda - Council - 08/23/2016 - Laserfiche WebLink

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F. If and to the extent that Contractor has Engineer fails to act on any Application for provided a performance bond under the Payment within 30 days after it is submitted, provisions of Paragraph 5.0l.A, the or (iii) Owner fails for 30 days to pay termination procedures of that bond shall Contractor any sum finally determined to be supersede the provisions of Paragraphs due, then Contractor may, upon seven days 15.02.13,and 15.02.C. written notice to Owner and Engineer, and provided Owner or Engineer do not remedy 15.03 Owner May Terminate For Convenience such suspension or failure within that time, temninate the Contract and recover from A. Upon seven days written notice to Contractor Owner payment on the same terms as and Engineer, Owner may,without cause and provided in Paragraph 15.03. without prejudice to any other right or remedy of Owner, terminate the Contract. In such B. In lieu of terminating the Contract and without case, Contractor shall be paid for (without prejudice to any other right or remedy, if duplication of any items): Engineer has failed to act on an Application for Payment within 30 days after it is 1. completed and acceptable Work executed submitted, or Owner has failed for 30 days to in accordance with the Contract pay Contractor any sum finally determined to Documents prior to the effective date of be due, Contractor may, seven days after temlination,including fair and reasonable written notice to Owner and Engineer, stop suns for overhead and profit on such the Work until payment is made of all such Work; amounts due Contractor, including interest thereon. The provisions of this Paragraph 2. expenses sustained prior to the effective 15.04 are not intended to preclude Contractor date of termination in performing from making a Claim under Paragraph 10.05 services and furnishing labor, materials, for an adjustment in Contract Price or or equipment as required by the Contract Contract Times or otherwise for expenses or Documents in connection with damage directly attributable to Contractor's uncompleted Work, plus fair and stopping the Work as permitted by this reasonable suns for overhead and profit Paragraph. on such expenses; ARTICLE 16—DISPUTE RESOLUTION 3. all claims, costs, losses, and damages (including but not limited to all fees and 16.01 Methods and Procedures charges of engineers, architects, attorneys, and other professionals and all A. Either Owner or Contractor may request court or arbitration or other dispute mediation of any Claim submitted to Engineer resolution costs)inured in settlement of for a decision under Paragraph 10.05 before terminated contracts with Subcontractors, such decision becomes final and binding. The Suppliers,and others;and mediation will be governed by the Construction Industry Mediation Rules of the 4. reasonable expenses directly attributable American Arbitration Association in effect as to termination. of the Effective Date of the Agreement. The request for mediation shall be submitted in B. Contractor shall not be paid on account of writing to the American Arbitration loss of anticipated profits or revenue or other Association and the other party to the economic loss arising out of or resulting from Contract. Timely submission of the request such termination. shall stay the effect of Paragraph 10.05.E. 15.04 Contractor May Stop Work or Terminate B. Owner and Contractor shall participate in the mediation process in good faith. The process A. If,through no act or fault of Contractor,(i)the shall be concluded within 60 days of filing of Work is suspended for more than 90 the request. The date of termination of the consecutive days by Owner or under an order mediation shall be determined by application of court or other public authority, or (ii) of the mediation rules referenced above. Standard General Conditions 00 72 00-47