LATE PERFORMANCE PENALTY. With respect to the work within its direct control, in the event Consultant is unable to perform satisfactory work consistent with the professional skill and care ordinarily provided by professionals practicing in the State of California under the same or similar circumstances within thirty (30) calendar days of the date such work is due pursuant to Exhibit B, Work Schedule, MPWMD may, in its discretion, withhold an additional five percent (5%) of the fees which would otherwise be payable pursuant to the fee schedule set forth in Exhibit B. This amount may be increased to a maximum of 10% after sixty (60) calendar days of the date such work is due. Consultant shall not be responsible for delays to the Schedule due to actions outside of its immediate control. Delays due to lack of performance by other parties shall be documented and the Schedule adjusted to reflect the length of the delay incurred SECTION IV INSPECTION OF WORK The books, papers, records and accounts of Consultant or any subconsultants retained by Consultant insofar as they relate to charges for services, or are in any way connected with the work herein contemplated, shall be open at all reasonable times to inspection and audit by the agents and authorized representatives of MPWMD. Said records shall be retained for a minimum of five (5) years after completion of services.
LATE PERFORMANCE PENALTY. With respect to the work within its direct control, in the event Consultant is unable to perform satisfactory work consistent with the professional skill and care ordinarily provided by professionals practicing in the State of California under the same or similar circumstances within thirty (30) calendar days of the date such work is due pursuant to Exhibit A, Scope of Work, MPWMD may, in its discretion, withhold an additional five percent (5%) of the fees which would otherwise be payable pursuant to the fee schedule set forth in Exhibit B. This amount may be increased to a maximum of 10% after sixty (60) calendar days of the date such work is due. Consultant shall not be responsible for delays to the Schedule due to actions outside of its immediate control. Delays due to lack of performance by other parties shall be documented and the Schedule adjusted to reflect the length of the delay incurred.
LATE PERFORMANCE PENALTY. Should Consolidated fail to substantially complete the Town- Funded Network within 2 years and 30 days of the date when the Town provided written notice to Consolidated that the Town has received Project funding and that the Project Work may proceed, Consolidated shall pay a $1,000.00 per day penalty for such day that the Town-Funded Network Work remains uncompleted. WE THE UNDERSIGNED PARTIES AGREE TO BE BOUND BY THIS AGREEMENT. Consolidated Communications Enterprise Services, Inc. By: Name: Title: Date: By: Its Board of Selectmen By: Name: Date: By: Name: Date: By: Name: Date: EXHIBIT A-1 Map and List of the Project Area EXHIBIT A-2 Work Locations and Address List EXHIBIT A-3 Description of the Town Funded Network Facilities Detailed drawings indicating town funded facilities will be detailed in “as built” maps provided at the completion of the project. Original RFP Response
LATE PERFORMANCE PENALTY. Should Consolidated fail to complete the Town-Funded Network within 2 years and 30 days of the date when the Town provided written notice to Consolidated that the Town has received Project funding and that the Project Work may proceed, Consolidated shall pay a $1,000.00 per day penalty for such day that the Town-Funded Network Work remains uncompleted. ////////// Exhibits Follow ////////// Exhibit 1 to Attachment A Fiber to the Premise Locations Town Of Chesterfield Exhibit 2 to Attachment A Work Locations / Address List Full Street Service City Service State Service Zipcode Attachment B Bond Financing Details The Town of Chesterfield will work with the New Hampshire Bond Bank (NHBB) to acquire financing for this project. The Town will apply for a Bond Anticipation Note (BAN) for the entire $1.8M amount. This note will be kept until sufficient taxable bonds can be sold by the NHBB to offset the Principal of the BAN. These taxable bonds will be acquired at future sales of the NHBB (the first being January 2020) until the principal of the BAN has been paid off. At this point, all financing will be in the form of 20 year taxable bonds at fixed interest rates. The Town will work with the NHBB to insure that this process proceeds as fast as possible and at the lowest interest rates that can be obtained in this process. Once the BAN has been fully converted to Bonds, the bond payment schedule may be attached to this agreement by amendment with signatures of both parties. It is hoped that no more than a single Bond thru the NHBB will be required. Consolidated will be responsible for all Interest and Principal payments for both the BAN and the taxable bonds as stated in the agreement. Forty-five (45) days prior to payments becoming due to the Town (for the BAN), the Town will notify Consolidated of the projected payments due. Consolidated will forward that sum to the Town within 30 days. Once the BAN has been fully converted to Bonds and the payment schedule attached to this agreement, the forty-five (45) day notice from the Town will no longer be required and Consolidated will forward funds thirty (30) days prior to Bond payments being due as in the schedule. Below is a sample table showing important dates and when Interest and Principal payments will be due. Bond Anticipation Note (BAN) Bond 1 Bond 2 (if needed) Comments Date Interest Interest Principal Interest Principal 2/2020 Yes no no Initiate Bond 1 Pay BAN 7/2020 yes yes no no no Initiate Bond 2 for balanc...
