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6.1C <br /> Page 8 <br /> Condlt€ons,and General Requirements;and <br /> 1. Supp(ier shaN provide materiais for the duration of the current agreemen#fiscal <br /> year period. The agreement cyde shalt run from.luly 1'�through June 30�' of <br /> the folfowing calendar year. <br /> B. Material Availai�ilitv: <br /> 1. City and Suppli�r recflgnize that time is af the essence during this Agreement <br /> and that City wiil suffer ftnanciat loss ir� the form of lost revenues, contract <br /> administration expenses (induding project management and consuitants' <br /> expenses)�c�lay and loss of pubEic use, if the Materials ane no#avaitable. <br /> 2. Accordingly, C�ty and Suppiier agree that if Supplier cannot pravid� <br /> materials, Supplier shall assist City in locating attema#e material sources. <br /> �. Conhact Period and Asphalt P�ivs Adjustments <br /> This contract will cover three (3) consecx�tive years. The compensa�on for <br /> unit prices shali be based on tha foltowing farmula ailowing for asphalt price <br /> adjustment as se#forth below. <br /> 1. Asphalt concrete materia{s pricing: <br /> The bid wi11 be awarded based on the unit prices for the estimated bid <br /> quarrtities. The unit p�ice may fluduate based on a monthiy comparisan of <br /> the Califomia Statewide Paving Asphaft Price Index(Index). The index fn <br /> place the date the contract is awarded shafl become the Base Index. A <br /> currerrt Index is estabtished on the f�st day of each month. On the fifih{5"') <br /> day of each month>the unit price payabie for asphatt concrete wi(t be <br /> increased or decreased in oonformanc�with the pravisians of this section <br /> for paving asphalt price fluctuations exceeding ten (10%}percent(tullb is <br /> greatec than 1.10 or less than .90)which occur during the length of this <br /> agreerr�nt. <br /> 2. The adjustment En price for the asphalt concrete materiais will be <br /> determined in conformance witt�the follawing formuiae-the <br /> tormu{ae will be appropriateiy adjustcd far English tons from itre <br /> Metric tan formula constant(1.9023)for the asphalt concrete <br /> materials purchased during the month: <br /> A. Totai monthly ac�}ustmeM=AQ <br /> 8. For an increase in paving asphalt pnce index exceeding ten <br /> (10%}percent; <br /> A=0.90(1.1023) lu/lb—'l.10) Ib <br /> C. For a decrease in asphalt paving price index exceeding ten <br /> {10�0}percent: <br /> A=0.90(9.1023)lu/lb-.90)Ib <br /> D. Where: <br /> A=Acljustme�t in p�ioe per metric ton ofi paving asphal#used <br /> to produce aspha{t c�ncrete rounded ta fhe nearest$0.0'!. <br /> iu=The California Statewide Paving Asphalt Price Index <br /> which is in effect an the first business day of the month in <br /> Asphait Materiais Agreement <br /> Page 2 of 6 <br />