Cost Determination and Payment of Betterments Sample Clauses

Cost Determination and Payment of Betterments. Upon written notification by City that it desires to pursue a Betterment, Authority shall obtain a cost proposal from the D/B Contractor for such Betterment in accordance with the terms of the D/B Contract. Authority shall provide City with a detailed written cost proposal and schedule for the Betterment, including a draft Work Order for the performance of such Betterment, based upon the obtained prices from the D/B Contractor. Concurrently with obtaining the cost proposal from the D/B Contractor, Authority shall perform an independent assessment of the cost of the Betterment and consult with City on its independent assessment upon delivery of the cost proposal for the Betterment. Authority shall work in good faith to assist City in negotiating a reasonable cost for the performance of the Betterment; provided, however, that City shall have 20 Days from receipt of the cost proposal and independent assessment consultation to approve a final cost estimate for the Betterment in writing, as may be extended by mutual agreement. Each Party agrees and understands that the final determination and approval of any Betterment may be subject to approval by the City's City Council, by Authority’s Board of Directors and, in the event of a material change to the Project, by Metro's Board of Directors. In the event City is unable or otherwise fails to agree to the cost of a Betterment in writing within the 20 Day period (as may be extended), then City shall be deemed to have disapproved the performance of the Betterment and Authority shall not be required to cause the Betterment to be performed. Authority shall not be deemed to have acted in bad faith for failing to extend the 20 Day City approval period of a Betterment or any additional extension thereof. If City is unable to agree on a lump sum price for the performance of a Betterment, then during the 20 Day City approval period, City may request that the Betterment be performed on a time and materials basis. Authority, in its sole discretion, may approve or disapprove City’s request to pay for a Betterment on a time and materials basis. Authority shall not instruct the D/B Contractor (or otherwise issue a Work Order) to perform any Betterment until such time as City has specifically approved in writing the cost and payment obligations for such Betterment. City shall reimburse the Authority for all Costs associated with the independent assessment and negotiations with respect to determining the price for a Betterment. C...
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Related to Cost Determination and Payment of Betterments

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