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<br />expenses (including project management and consultants' expenses), delay and loss of <br />public use, if the Materials are not available. <br /> <br />2. Accordingly, City and Supplier agree that if Supplier cannot provide materials, Supplier <br />shall assist City in locating alternate material sources. <br /> <br />c. Contract Period and Asphalt Price Adjustments <br /> <br />The purchase agreement shall cover one (1) fiscal year period from approximately <br />September 1,2008 through August 30,2009. This contract can be extended by the <br />City for up to four (4) consecutive years at the discretion and approval of the city. The <br />compensation for unit prices shall be based on the following formula allowing for <br />asphalt price adjustment as set forth below. <br /> <br />1. Asphalt concrete materials pricing: <br />The bid will be awarded based on the unit prices for the estimated bid quantities. <br />The unit price may fluctuate based on a monthly comparison of the California <br />Statewide Paving Asphalt Price Index (Index). The Index in place the date the <br />contract is awarded shall become the Base Index. A current Index is established <br />on the first day of each month. On the fifth (5th) day of each month, the unit price <br />payable for asphalt concrete will be increased or decreased in conformance with <br />the provisions of this section for paving asphalt price fluctuations exceeding ten <br />(10%) percent (Iullb is greater than 1.10 or less than .90) which occur during the <br />length of this agreement. <br /> <br />2. The adjustment in price for the asphalt concrete materials will be <br />determined in conformance with the following formulae - the formulae will be <br />appropriately adjusted for English tons from the Metric ton formula constant <br />(1.1023) for the asphalt concrete materials purchased during the month: <br /> <br />E. Total monthly adjustment = AQ <br />F. For an increase in paving asphalt price index exceeding ten (10%) <br />percent: <br />A = 0.90 (1.1023) lu/lb - 1.10) Ib <br />G. For a decrease in asphalt paving price index exceeding ten (10%) <br />percent: <br />A = 0.90 (1.1023) lu/lb - .90) Ib <br />H. Where: <br />A = Adjustment in price per metric ton of paving asphalt used to <br />produce asphalt concrete rounded to the nearest $0.01. <br />lu = The California Statewide Paving Asphalt Price Index which is in <br />effect on the first business day of the month in which the asphalt <br />concrete materials are purchased . <br />Ib = The California Statewide Paving Asphalt Price Index for the <br />month in which the bid award for the agreement occurred. <br />Q = Quantity in tons of paving asphalt that was used in producing the <br />quantity of asphalt concrete purchased. <br /> <br />3. The adjustment in price for the English Tons of asphalt concrete <br />purchased shall be shown on the payment invoices. <br /> <br />4. The California Statewide Paving Asphalt Price Index is determined each <br /> <br />19 <br />