AG 2002 07 22 (Regular) - Laserfiche WebLink

Home Browse Search

t2.2.1 If the Owner fails to make payment when due, the Design/Builder may give written notice of the Design/ Builder's intention to terminate this Part 2 Agreement. If the Design/Builder fails to receive payment within seven (7) days after receipt of such notice by the Owner, the Design/Builder may give a second written notice and, seven (7) days after receipt of such second written notice by the Owner, may terminate this Part 2 Agreement and recover from the Owner payment for Work executed and for proven losses sustained upon materials, equipment, tools, and construction equipment and machinery, including reasonable profit and applicable damages. Insed; AM: 12.3 TERMINATION BY THE OWNERFOR 12.3.1 The Owner may, at any time, terminate the Contract for the Owners convenience and without cause. 12.3.2 Upon receipt of written notice from the Owner of such termination, the Design/Builder shall: (1) cease o~rations as directed by the Owner in the notice: (.2) take all 0ctiQrls uecessary_ ~ or as the Owner ma_v direct, for the protection and preservation of the Work: and (3) except for Work directed to be performed prior to the effective date of termination stated in the notice, terminate all existing subcontracts and purchase orders and enter into no further subgontraets and purchase orders. 12.3.3 Upon such termination, the Design/Builder shall recover as its sole remedy paYment for Work properly performed in eormection with the 'terminated portion of the Work prior to the effective date of termination, for items properly and timely fabricated off the Project site, delivered and stored in accordance with the Owner's instructions. Reasonable termination expenses, excluding anticipated profits, as negotiated between the Owner and the Design/Builder may also be paid. Insert AN: 12.3.4 The Owner shall be credited for (1) payments previously made to the Desi_an/Builder for the terminated portion of the Work; (2) claims which the Owner has against the Desi_;rffBuilder under the Contract Documents: and (3) the value of the materials, supplies, equipment or other items that are to be disposed of by the Deal_ma/Builder that are part of the contract sum. 12.4 Cooperation and Use of Documents. To the maximum extent allowed by North Carolina architect, engi_'neer and desigrffbuild licensing laws: (a) In the event of any termination by the Owner, Desi_ma/Builder consents to Owaefs select/oil of another desi_ma/builder of Owner's choice to assist Owrler in completing_ the Project: (b) Desi~mvrBuilder a_arees to cooperate and provide any information requested by Owner in connection with the completion of the Project and consents to and authorizes the making of any reasonable changes to the deal_an of the Project ~ Owner and such other desi_an/builder ma_v de, ire; (q) Ihawin~. specifications, and other documents and electronic data furnished by the Desi_ma/Builder may be used by the Owner for additions to this Project and for completion of this Project by others: and (d) In the event of termination of the Desi_m~Builder. Desi?ffBuilder shall immediately provide to Owner copies of all drawings_, specifications, and other documents and electronic data in connection w/th the Project to enable Owner to complete the Project. ARTICLE 13 BASIS OF COMPENSATION The Owner shalt compensate the Design/Builder in accordance with Article 5, Payments, and the other provisions of this Part 2 Agreement as described below. 13.1 COMPENSATION t3.1.t For the Design/Builder's performance of the Work, as described in Paragraph 3.2 and including any other services listed in Article 14 as part of Basic Services, the Owner shall pay the Design/Builder in current funds the Contract Sum as follows: Cost of the Work_ as def'med in _rmr~_ apb 13.1.1.2. and the Desi_m~Builder's Fee. which shall be ten percent (10%) of the Cost of the Work. 13.1.].1 GUARANTEED MAXIMUM PRICE (GMP) A. The sum of the Cost of the Work and the Desi_erffBuildefs Fee is _;uaranteed by the Desi_ma/Builder not to exceed the Guaranteed Maximum Price of Four Million Dollars ($4.000.000~. including_ the sum of $85.000 in Part 1 of this A~r_ cement, sub_iect to additions and deductions by Change Order as provided in the Contract Documents. The GMP includes a two percent (2%) eontir~__ency which belon_m to the Owner which can be used for unforeseen conditions, among other things. Such lllaxilIl~m sum is referred to in the Contract Documents as the Guaranteed Maximum Price. Costs which would cause the Guaranteed Maximum Price to be exceeded shall be paid by the Desi_m~/Builder without reimbursement by the owner, VW/499163.4