AgdaPkt 2005-03-14 - Laserfiche WebLink

Browse Search

G � I . �- �3 finished nor shall it be relieved from its obligations hereunder. If the City/Agency's costs in completing the Project (including administration and additional professional services made necessary by CM/GC's default) exceed the FAP, CM/GC shall pay City/Agency all sums in excess of the FAP within 10 days after City's/Agency's written demand for payment. D. Savinqs Clause. If City/Agsncy terminates CM/GC for cause, and if it is later determined that the termination was wrongful, such default terminatior� shall automatically be converted to and treated as a termination for convenience. In such event, CM shall be entitled to receive only the amounts payable under this section, and specifically waives any claim for any other amounts or damages, including but not limited any claim for consequential damages or lost profits. E. Assignment to new CM/GC. In the event that this Agreement is terminated for cause or otherwise, City/Agency shall have the option to retain another CM/GC in connection with the Project. All contracts between CM/GC and Trade Contractors and/or suppliers shall, upon City's/Agency's exercise of the option, be assigned to the City/Agency or the new CM/GC. F. Suspension. City/Agency may suspend CM/GC's performance under this Agreement for one or more periods not to exceed one hundred and finrenty (120) days without incurring any liability to CM/GC. The suspension shall be effective upon City's/Agency's written notice to CM/GC. CM/GC may present invoices to City/Agency during a suspension for costs associated with general conditions costs during the suspension period, provided that CM/GC will make all reasonable efforts to reduce general conditions charges during the suspension, including temporary reassignments of staff. CM/GC shall resume its performance under this Agreement promptly upon receipt of City's/Agency's written notice to proceed. Section 16. RECORDS: CM/GC shall keep and maintain accurate records of all time expended and costs and expenses incurred relating to Services and Work to be performed by CM/GC and Trade Contractors hereunder and all other costs related to the Project. City/Agency reserves the right to fully audit all amounts paid by CM/GC under this Agreement, including the terms of all Trade Contracts and the amounts paid to third parties by CM/GC relating to the Project. The City's/Agency's right to audit shall include Trade Contractors and suppliers at any level for the purposes of determining compliance with this Agreement, the Contract Documents and legal requirements, includin� but not limited to payment of prevailing wages. Upon five (5) Work Days after written request from City/Agency, CM/GC shall make available for review and copying any and all books, accounts and records necessary for such audit during normal business hours until seven (7) years after completion of the Project. Atty/Agr/2005.003 030805/L.Beck/607588v7 Page 11 of 30