Agmt99 W L Butler Construction - Laserfiche WebLink

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Compensation and reimbursement of costs and expenses hereunder shall be payable upon monthly billing therefor by DB to City, which billing shall include a written statement describing the work performed by DB. (b) Payment to DB; Final Aqreed Price. The Final Agreed Price (the "FAP") for the Project shall consist of the following three elements: (1) the sum of all bids from subcontractors (the "Subcontractor Costs"; including DB to the extent that DB is awarded any subcontract for physical work at the Project based upon the competitive bid process applicable to subcontractors); (2) DB's Fee, as defined above. Items (1) and (2) in the previous sentence shall be referred to herein as the "Construction Costs." Upon receipt and approval of all Subcontractors' bids, DB shall execute an FAP, in a form entitled "Listing of Subcontractors - Final Agreed Price" and similar to the form shown on Exhibit "G" attached hereto and incorporated by this reference. The FAP shall not exceed the sum of One Million Two Hundred Thousand and No/100 Dollars ($2,200,000.00), subject to the other conditions of this Agreement and the documents incorporated herein, such as the general conditions. The FAP shall be disbursed to DB in accordance with the terms and conditions of this Agreement, including provisions concerning DB's Fee. (c) Payment to Subcontractors. Payments to Subcontractors shall be made by DB out of the FAP funds and shall be subject to the written approval by the City Engineer, or its designee, and receipt by City of acceptable lien releases. DB's request for payment to Subcontractors shall be made monthly and shall be accompanied by acceptable documentary evidence of Subcontractor's work in progress. 4. ADDITIONAL SERVICES. In the event City desires the performance of additional services not otherwise included within the services described in this Agreement, Agrnt-247 F/sWstVRC/Council FXS:rg 03/29/99R;04/05/99R, 04/07/99R -14-