1997 EDITION
AIA DOCUMENT I A111-1997
STANDARD FORM OF AGREEMENT BETWEEN OWNER AND CONTRACTOR
where the basis for payment is the COST OF THE WORK PLUS A FEE with a negotiated
Guaranteed Maximum Price.
A G R E E M E N T made as of the Nineteenth day of June
in the year NINETY-EIGHT
(In words, indicate day, month and year)
B E T W E E N the Owner: MECHANICAL TECHNOLOGY INC.
(Name, address and other information) 000 XXXXXX-XXXXXX XXXX
XXXXXX, XX 00000
and the Contractor: XXXXXX & XXXX BUILDERS, INC.
(Name, address and other information) 0000 XXXXXXX XXXXXX
XXXXXXXXXXX, XX 00000
The Project is: MECHANICAL TECHNOLOGY INC.
(Name and address) BUILDING ONE - CONSTRUCTION
000 XXXXXX-XXXXXX XXXX
XXXXXX, XX 00000
The Architect is: XXXXXXXX XXXX XXXXXXX,
(Name, address and other information) ARCHITECTS
000 XXX XXXXXX
XXXXXXXXXXX, XX 00000
The Owner and Contractor agree as follows.
ARTICLE 1 THE CONTRACT DOCUMENTS
The Contract Documents consist of this Agreement, Conditions of the Contract
(General, Supplementary and other Conditions), Drawings, Specifications, Addenda
issued prior to execution of this Agreement, other documents listed in this
Agreement and Modifications written and executed by both parties issued after
execution of this Agreement; these form the Contract, and are as fully a part of
the Contract as if attached to this Agreement or repeated herein. The Contract
represents the entire and integrated agreement between the parties hereto and
supersedes prior negotiations, representations or agreements, either written or
oral. An enumeration of the Contract Documents, other than Modifications,
appears in Article 15. If anything in the other Contract Documents is
inconsistent with this Agreement, this Agreement shall govern.
ARTICLE 2 THE WORK OF THIS CONTRACT
The Contractor shall fully execute the Work described in the Contract Documents,
except to the extent specifically indicated in the Contract Documents to be the
responsibility of others.
ARTICLE 3 RELATIONSHIP OF THE PARTIES
The Contractor accepts the relationship of trust and confidence established by
this Agreement and covenants with the Owner to cooperate with the Architect and
exercise the Contractor's skill and judgment in furthering the interests of the
Owner; to furnish efficient business administration and supervision; to furnish
at all times an adequate supply of workers and materials; and to perform the
Work in an expeditious and economical manner consistent with the Owner's
interests. The Owner agrees to furnish and approve, in a timely manner,
information required by the Contractor and to make payments to the Contractor in
accordance with the requirements of the Contract Documents.
ARTICLE 4 DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION
4.1 The date of commencement of the Work shall be the date of this Agreement
unless a different date is stated below or provision is made for the date to be
fixed in a notice to proceed issued by the Owner.
(Insert the date of commencement, if it differs from the date of this Agreement
or, if applicable, state that the date will be fixed in a notice to proceed.)
JUNE 25, 1998
If, prior to commencement of the Work, the Owner requires time to file
mortgages, mechanic's liens and other security interests, the Owner's time
requirement shall be as follows:
4.2 The Contract Time shall be measured from the date of commencement.
4.3 The Contractor shall achieve Substantial Completion of the entire Work
not later than 124 days from the date of commencement or as follows:
(Insert number of calendar days. Alternatively, a calendar date may be used
when coordinated with the date of commencement. Unless stated elsewhere in the
Contract Documents. insert any requirements for earlier Substantial Completion
of certain portions of the Work.)
SUBSTANTIAL COMPLETION IS DEFINED AS THE POINT WHEN THE CONSTRUCTION WORK HAS
PROGRESSED TO THE POINT WHERE THE BUILDING MAY BE LEGALLY OCCUPIED FOR ITS
INTENDED USE.
OCTOBER 25, 1998
subject to adjustments of this Contract Time as provided in the Contract
Documents. (Insert provisions, if any for liquidated damages relating to failure
to complete on time, or for bonus payments for early completion of the Work.)
$500.00/CALENDAR DAY FOR EARLY OR LATE COMPLETION
EARLY COMPLETION BEGINS AFTER OCTOBER 1, 1998 BUT PRIOR TO OCTOBER 25, 1998.
ARTICLE 5 BASIS FOR PAYMENT
5.1 CONTRACT SUM
5.1.1 The Owner shall pay the Contractor the Contract Sum in current funds
for the Contractor's performance of the Contract . The Contract Sum is the Cost
OF the Work as defined in Article 7, plus the Contractor's Fee.
5.1.2 The Contractor's Fee is: $308,527.00 FIXED FEE
(State a lump sum, percentage of Cost of the Work or other provision for
determining the Contractor's Fee, and describe the method of adjustment of the
Contractor's Fee for changes in the Work. )
FOR ADDITIONAL WORK THE CONTRACTOR WILL RECEIVE THE COST OF THE WORK AS DEFINED
IN ARTICLE 7, IN ADDITION TO A 15% MARK-UP FOR OVERHEAD AND PROFIT.
5.2 GUARANTEED MAXIMUM PRICE
5.2.1 The sum of the Cost of the Work and the Contractor's Fee is guaranteed
by the Contractor not to exceed TWO MILLION SIX HUNDRED SIXTY THREE THOUSAND
ONE HUNDRED TWENTY-ONE AND 00/100 DOLLARS--($2,663,121) subject to additions
and deductions by Change Order as provided in the Contract Documents. Such
maximum sum is referred to in the Contract Documents as the Guaranteed Maximum
Price. Costs which would cause the Guaranteed Maximum Price to be exceeded
shall be paid by the Contractor without reimbursement by the Owner.
(Insert specific provisions if the Contractor is to participate in any savings.)
AT THE COMPLETION OF THE JOB ALL SAVINGS REALIZED BY THE
CONCERTED TEAM EFFORT OF THE OWNER, ARCHITECT AND THE
CONTRACTOR WILL BE DISTRIBUTED AS FOLLOWS:
90% TO THE OWNER
10% TO THE CONTRACTOR
5.2.2 The Guaranteed Maximum Price is based on the following alternates, if
any. which are described in the Contract Documents and are hereby accepted by
the Owner:
(State the numbers or other identification or accepted alternates. If
decisions on other alternates are to be made by the Owner subsequent to the
execution of this Agreement. attach a schedule of such other alternates showing
the amount for each and the date when the amount expires).
1. ADD MAINTENANCE /EQUIPMENT ROOM 900 SF
2. ADD ELECTRICAL ROOM/ STORAGE AREA 360 SF
5.2.3 Unit prices, if any, are as follows:
AS STATED IN PRELIMINARY PROPOSED BUDGET DATED, JUNE 19, 1998 (SEE ATTACHMENT)
5.2.4 Allowances, if any, are as follows:
(Identify and state the amounts of any allowances,and state whether they include
labor materials, or both. )
$20,000.00 LANDSCAPING
$26,580.00 FRONT PLANTER
$10,000.00 FINISH CARPENTRY
$18,500.00 RECEPTION DESK
$47,500.00 ORNAMENTAL TRELLIS
INTERIOR ALLOWANCES AS STATED IN PRELIMINARY
PROPOSED BUDGET DATED, JUNE 19, 1998.
5.2.5 Assumptions, if any, on which the Guaranteed Maximum Price is based are
as follows:
1. GROSS BUILDING AREA 32,005 SF
2. BRICK EXTERIOR @ $350.00/1000 BRICKS
3. REVISED HVAC PROPOSAL DATED, JUNE 15, 1998 WITH CEILING PLENUM RETURN
(SEE ATTACHMENT)
4. REVISED ELECTRICAL PROPOSAL DATED, JUNE 16, 1998
(SEE ATTACHMENT)
5. STRUCTURAL STEEL PRICING NOT TO EXCEED $7.00/SF
6. EXCLUSIONS LISTED IN PRELIMINARY PROPOSED BUDGET DATED, JUNE 19, 1998.
7. ASPHALT PAVING AND PREPARATION IS EXCLUDED
8. NO STORM WATER MANAGEMENT
9. THIS IS A TAX EXEMPT JOB
5.2.6 To the extent that the Drawings and Specifications are anticipated to
require further development by the Architect, the Contractor has provided in
the Guaranteed Maximum Price for such further development consistent with the
Contract Documents and reasonably inferable therefrom. Such further
development does not include such things as changes in scope, systems, kinds
and quality of materials, finishes or equipment, all of which, if required,
shall be incorporated by Change Order.
ARTICLE 6 CHANGES IN THE WORK
6.1 Adjustments to the Guaranteed Maximum Price on account of changes in
the Work may be determined by any of the methods listed in Subparagraph 7.3.3
of AIA Document A201-1997.
6.2 In calculating adjustments to subcontracts (except those awarded with
the Owner's prior consent on the basis of cost plus a fee), the terms "cost"
and "fee" as used in Clause 7.3.3.3 of AIA Document A201-1997 and the terms
"costs" and "a reasonable allowance for overhead and profit" as used in
Subparagraph 7.3.6 of AIA Document A201-l997 shall have the meanings assigned
to them in AIA Document A201-1997 and shall not be modified by Articles 5, 7
and 8 of this Agreement. Adjustments to subcontracts awarded with the Owner's
prior consent on the basis of cost plus a fee shall be calculated in accordance
with the terms of those subcontracts.
6.3 In calculating adjustments to the Guaranteed Maximum Price, the terms
"cost" and "costs" as used in the above-referenced provisions of AIA Document
A201-1997 shall mean the Cost of the Work as defined in Article 7 of this
Agreement and the terms "fee" and "a reasonable allowance for overhead and
profit" shall mean the Contractor's Fee as defined in Subparagraph 5.1.2 of this
Agreement.
6.4 If no specific provision is made in Paragraph 5.1 for adjustment of the
Contractor's Fee in the case of changes in the Work, or if the extent of such
changes is such, in the aggregate, that application of the adjustment provisions
of Paragraph 5.1 will cause substantial inequity to the Owner or Contractor,
the Contractor's Fee shall be equitably adjusted on the basis of the Fee
established for the original Work, and the Guaranteed Maximum Price shall be
adjusted accordingly.
ARTICLE 7 COSTS TO BE REIMBURSED
7.1 COST OF THE WORK
The term Cost of the Work shall mean costs necessarily incurred by the
Contractor in the proper performance of the Work. Such costs shall be
at rates not higher than the standard paid at the place of the Project except
with prior consent of the Owner. The Cost of the Work shall include only the
items set forth in this Article 7.
7.2 LABOR COSTS
7.2.1 Wages of construction workers directly employed by, the Contractor to
perform the construction of the Work at the site or, with the Owner's approval,
at off-site workshops.
7.2.2 Wages or salaries of the Contractor's supervisory and administrative
personnel when stationed at the site with the 0wner's approval.
(If it is intended that the wages or salaries of certain personnel stationed
at the Contractor's principal or other offices shall be included in the Cost
of the Work, identify, in Article 14 the personnel to be included and whether
for all or only part of their time, and the rates at which their time will be
charged to the Work.)
7.2.3 Wages and salaries of the Contractor's supervisory or administrative
personnel engaged, at factories, workshops or on the road, in expediting the
production or transportation of materials or equipment required for the Work,
but only for that portion of their time required for the Work.
7.2.4 Costs paid or incurred by the Contractor for taxes, insurance,
contributions, assessments and benefits required by law or collective bargaining
agreements and, for personnel not covered by such agreements, customary benefits
such as sick leave, medical and health benefits, holidays, vacations and
pensions, provided such costs are based on wages and salaries included in the
Cost of the Work under Subparagraphs 7.2.1 through 7.2.3.
7.3 SUBCONTRACT COSTS
7.3.1 Payments made by the Contractor to Subcontractors in accordance with
the requirements of the subcontracts.
7.4 COSTS OF MATERIALS AND EQUIPMENT INCORPORATED IN THE COMPLETED
CONSTRUCTION
7.4.1 Costs, including transportation and storage, of materials and equipment
incorporated or to be incorporated in the completed construction.
7.4.2 Costs of materials described in the preceding Subparagraph 7.4.1 in
excess of those actually installed to allow for reasonable waste and spoilage.
Unused excess materials, if any, shall become the Owner's property at the
completion of the Work or, at the Owner's option, shall be sold by the
Contractor. Any amounts realized from such sales shall be credited to the Owner
as a deduction from the Cost of the Work.
7.5 COSTS OF OTHER MATERIALS AND EQUIPMENT. TEMPORARY FACILITIES AND
RELATED ITEMS
7.5.1 Costs including transportation and storage, installation, maintenance,
dismantling and removal of materials, supplies, temporary facilities, machinery,
equipment, and hand tools not customarily owned by construction workers, that
are provided by the Contractor at the site and fully consumed in the performance
of the Work; and cost (less salvage value) of such items if not fully consumed,
whether sold to others or retained by the Contractor. Cost for items previously
used by the Contractor shall mean fair market value.
7.5.2 Rental charges for temporary facilities, machinery, equipment, and hand
tools not customarily owned by construction workers that are provided by the
Contractor at the site, whether rented from the Contractor or others, and costs
of transportation, installation, minor repairs and replacements, dismantling
and removal thereof. Rates and quantities of equipment rented shall be subject
to the Owner's prior approval.
7.5.3 Costs of removal of debris from the site.
7.5.4 Costs of document reproductions, facsimile transmissions and long-
distance telephone calls, postage and parcel delivery charges, telephone service
at the site and reasonable xxxxx cash expenses of the site office.
7.5.5 That portion of the reasonable expenses of the Contractor's personnel
incurred while traveling in discharge of duties connected with the Work.
7.5.6 Costs of materials and equipment suitably stored off the site at a
mutually acceptable location, if approved in advance by the Owner.
7.6 MISCELLANEOUS COSTS
7.6.1 That portion of insurance and bond premiums that can be directly
attributed to this Contract.
7.6.2 Sales, use or similar taxes imposed by a governmental authority that are
related to the Work.
7.6.3 Fees and assessments for the building permit and for other permits,
licenses and inspections for which the Contractor is required by the Contract
Documents to pay.
7.6.4 Fees of laboratories for tests required by the Contract Documents,
except those related to defective or nonconforming Work for which reimbursement
is excluded by Subparagraph 13.5.3 of AIA Document A201-1997 or other provisions
of the Contract Documents, and which do not fall within the scope of
Subparagraph 7.7.3.
7.6.5 Royalties and license fees paid for the use of a particular design,
process or product required by the Contract Documents; the cost of defending
suits or claims for infringement of patent rights arising from such requirement
of the Contract Documents; and payments made in accordance with legal judgments
against the Contractor resulting from such suits or claims and payments of
settlements made with the Owner's consent. However, such costs of legal
defenses, judgments and settlements shall not be included in the calculation
of the Contractor's Fee or subject to the Guaranteed Maximum Price. If such
royalties, fees and costs are excluded by the last sentence of Subparagraph
3.17.1 of AIA Document A201-1997 or other provisions of the Contract Documents,
then they shall not be included in the Cost of the Work.
7.6.6 Data processing costs related to the Work.
7.6.7 Deposits lost for causes other than the Contractor's negligence or
failure to fulfill a specific responsibility to the Owner as set forth in the
Contract Documents.
7.6.8 Legal, mediation and arbitration costs, including attorneys' fees, other
than those arising from disputes between the 0wner and Contractor, reasonably
incurred by the Contractor in the performance of the Work and with the Owner's
prior written approval; which approval shall not be unreasonably withheld.
7.6.9 Expenses incurred in accordance with the Contractor's standard personnel
policy for relocation and temporary living allowances of personnel required for
the Work, if approved by the Owner.
7.7 OTHER COSTS AND EMERGENCIES
7.7.1 Other costs incurred in the performance of the Work if and to the extent
approved in advance in writing by the Owner.
7.7.2 Costs due to emergencies incurred in taking action to prevent threatened
damage, in jury or loss in case of an emergency affecting the safety of persons
and property, as provided in Paragraph 10.6 of ALA Document A201-1997.
7.7.3 Costs of repairing or correcting damaged or nonconforming Work executed
by the Contractor, Subcontractors or suppliers, provided that such damaged or
nonconforming Work was not caused by negligence or failure to fulfill a specific
responsibility of the Contractor and only to the extent that the cost of repair
or correction is not recoverable by the Contractor from insurance, sureties,
Subcontractors or suppliers.
ARTICLE 8 COSTS NOT TO BE REIMBURSED
8.1 The Cost of the work shall not include:
8.1.1 Salaries and other compensation of the Contractor's personnel stationed
at the Contractor's principal office or offices other than the site office,
except as specifically provided in Subparagraphs 7.2.2 and 7.2.3 or as may be
provided in Article 14.
8.1.2 Expenses of the Contractor's principal office and offices other than the
site office.
8.1.3 Overhead and general expenses, except as may be expressly included in
Article 7.
8.1.4 The Contractor's capital expenses, including interest on the
Contractor's capital employed for the Work.
8.1.5 Rental costs of machinery and equipment, except as specifically provided
in Subparagraph 7.5.2.
8.1.6 Except as provided in Subparagraph 7.7.3 of this Agreement, costs due
to the negligence or failure to fulfill a specific responsibility of the
Contractor, Subcontractors and suppliers or anyone directly or indirectly
employed by any of them or for whose acts any of them may be liable.
8.1.7 Any cost not specifically and expressly described in Article 7.
8.1.8 Costs, other than costs included in Change Orders approved by the
Owner, that would cause the Guaranteed Maximum Price to be exceeded.
ARTICLE 9 DISCOUNTS, REBATES AND REFUNDS
9.l Cash discounts obtained on payments made by the Contractor shall accrue
to the Opener if (1) before making the payment, the Contractor included them in
an Application for Payment and received payment therefor from the Owner, or (2)
the Owner has deposited funds with the Contractor with which to make payments;
otherwise, cash discounts shall accrue to the Contractor. Trade discounts,
rebates, refunds and amounts received from sales of surplus materials and
equipment shall accrue to the Owner, and the Contractor shall make provisions
so that then can be secured.
9.2 Amounts that accrue to the Owner in accordance with the provisions of
Paragraph 9.1 shall be credited to the Owner as a deduction from the Cost of
the Work.
ARTICLE 10 SUBCONTRACTS AND OTHER AGREEMENTS
10.1 Those portions of the Work that the Contractor does not customarily
perform with the Contractor's own personnel shall be performed under
subcontracts or by other appropriate agreements with the Contractor. The Owner
may designate specific persons or entities from whom the Contractor shall obtain
bids. The Contractor shall obtain bids from Subcontractors and from suppliers of
materials or equipment fabricated especially for the Work and shall deliver such
bids to the Architect. The Owner shall then determine, with the advice of the
Contractor and the Architect, which bids will be accepted. The Contractor shall
not be required to contract with anyone to whom the Contractor has reasonable
objection.
10.2 If a specific bidder among those whose bids are delivered by the
Contractor to the Architect (1) is recommended to the Owner by the Contractor;
(2) is qualified to perform that portion of the Work; and (3) has submitted a
bid that conforms to the requirements of the Contract Documents without
reservations or exceptions, but the Owner requires that another bid be accepted,
then the Contractor may require that a Change Order be issued to adjust the
Guaranteed Maximum Price by the difference between the bid of the person or
entity recommended to the Owner by the Contractor and the amount of the
subcontract or other agreement actually signed with the person or entity
designated by the Owner.
10.3 Subcontracts or other agreements shall conform to the applicable payment
provisions of this Agreement, and shall not be awarded on the basis of cost plus
a fee without the prior consent of the Owner.
ARTICLE 11 ACCOUNTING RECORDS
The Contractor shall keep full and detailed accounts and exercise such controls
as may be necessary for proper financial management under this Contract, and
the accounting and control systems shall be satisfactory to the Owner. The Owner
and the Owner's accountants shall be afforded access to, and shall be permitted
to audit and copy, the Contractor's records, books, correspondence,
instructions, drawings, receipts, subcontracts, purchase orders, vouchers,
memoranda and other data relating to this Contract, and the Contractor shall
preserve these for a period of three years after final payment, or for such
longer period as may be required by law.
ARTICLE 12 PAYMENTS
12.1 PROGRESS PAYMENTS
12.1.1 Based upon Applications for Payment submitted to the Architect by the
Contractor and Certificates for Payment issued by the Architect, the Owner shall
make progress payments on account of the Contract Sum to the Contractor as
provided below and elsewhere in the Contract Documents.
12.1.2 The period covered by each Application for Payment shall be one calendar
month ending on the last day of the month, or as follows:
12.1.3 Provided that an Application for payment is received by the Architect
not later than the LAST day of a month. The Owner* shall make payment to the
Contractor not later than the TWENTY-FIRST day of the FOLLOWING month. If an
Application for Payment is received by the Architect after the application date
fixed above, payment shall be made by the Owner not later than THIRTY days
after the Architect receives the Application for Payment. *UPON APPROVAL OF
THEIR BANK
12.1.4 With each Application for Payment, the Contractor shall submit payrolls,
xxxxx cash accounts, receipted invoices or invoices with check vouchers
attached, and any other evidence required by the Owner or Architect to
demonstrate that cash disbursements already made by the Contractor on account
of the Cost of the Work equal or exceed (1) progress payments already received
by the Contractor; less (2 ) that portion of those payments attributable to the
Contractor's Fee; plus (3) payrolls for the period covered by the present
Application for Payment.
12.1.5 Each Application for Payment shall be based on the most recent schedule
of values submitted by the Contractor in accordance with the Contract
Documents. The schedule of values shall allocate the entire Guaranteed Maximum
Price among the various portions of the Work, except that the Contractor's Fee
shall be shown as a single separate item. The schedule of values shall be
prepared in such form and supported be such data to substantiate its accuracy
as the Architect may require. This schedule, unless objected to by the
Architect, shall be used as a basis for reviewing the Contractor's Applications
for Payment.
12.1.6 Applications for Payment shall show the percentage of completion of
each portion of the Work as of the end of the period covered by the Application
for Payment. The percentage of completion shall be the lesser of (1) the
percentage of that portion of the Work which has actually been completed; or
(2) the percentage obtained by dividing (a) the expense that has actually been
incurred by the Contractor on account of that portion of the Work for which the
Contractor has made or intends to make actual payment prior to the next
Application for Payment by (b) the share of the Guaranteed Maximum Price
allocated to that portion of the Work in the schedule of values.
12.1.7 Subject to other provisions of the Contract Documents, the amount of
each progress payment shall be computed as follows:
.1 take that portion of the Guaranteed Maximum Price properly
allocable to completed work as determined by multiplying the percentage of
completion of each portion of the Work by the share of the Guaranteed Maximum
Price allocated to that portion of the Work in the schedule of values.
Pending final determination of cost to the Owner of changes in the Work,
amounts not in dispute shall be included as provided in Subparagraph 7.3.8
of AIA Document A201- 1997;
.2 add that portion of the Guaranteed Maximum Price properly
allocable to materials and equipment delivered and suitably, stored at the
site for subsequent incorporation in the Work, or if approved in advamce
by the Owner, suitably stored off the site at a location agreed upon in
writing;
.3 add the Contractor's Fee, less retainage of TEN - percent
(10% ). The Contractor's Fee shall be computed upon the Cost of the Work
described in the two preceding Clauses at the rate stated in Subparagraph
5.1.2 or, if the Contractor's Fee is stated as a fixed sum in that
Subparagraph, shall be an amount that bears the same ratio to that fixed-sum
fee as the Cost of the Work in the two preceding Clauses bears to a
reasonable estimate of the probable Cost of the Work upon its completion;
.4 subtract the aggregate of previous payments made by the Owner;
.5 subtract the shortfall, if any, indicated by the Contractor in
the documentation required by Paragraph 12.1.4 to substantiate prior
Applications for Payment, or resulting from errors subsequently discovered
by the Owner's accountants in such documentation; and
.6 subtract amounts, if any, for which the Architect has
withheld or nullified a Certificate for Payment as provided in Paragraph 9.5
of AIA Document A201-1997.
12.1.8 Except with the Owner's prior approval, payments to Subcontractors
shall be subject to retainage of not less than FIVE percent ( 5 %). The Owner
and the Contractor shall agree upon a mutually acceptable procedure for review
and approval of payments and retention for Subcontractors.
12.1.9 In taking action on the Contractor's Applications for Payment, the
Architect shall be entitled to rely on the accuracy and completeness of the
information furnished by the Contractor and shall not be deemed to represent
that the Architect has made a detailed examination, audit or arithmetic
verification of the documentation submitted in accordance with Subparagraph
12.1.4 or other supporting data; that the Architect has made exhaustive or
continuous on-site inspections or that the Architect has made examinations to
ascertain how or for what purposes the Contractor has used amounts previously
paid on account of the Contract. Such examinations, audits and verifications,
if required by the Owner, will be performed by the Owner's accountants acting
in the sole interest of the Owner.
12.2 FINAL PAYMENT
12.2.1 Final payment, constituting the entire unpaid balance of the Contract
Sum, shall be made by the Owner to the Contractor when:
.1 the Contractor has fully performed the Contract except for
the Contractor's responsibility to correct Work as provided in Subparagraph
12.2.2 of AIA Document A201-1997, and to satisfy other requirements, if any,
which extend beyond final payment; and
.2 a final Certificate for Payment has been issued by the
Architect.
12.2.2 The Owner's final payment to the Contractor shall be made no later
than 30 days after the issuance of the Architect's final Certificate for
Payment, or as follows:
12.2.3 The Owner's accountants will review and report in writing on the
Contractor's final accounting within 30 days after delivery of the final
accounting to the Architect by the Contractor. Based upon such Cost of the
Work as the Owner's accountants report to be substantiated by the Contractor's
final accounting, and provided the other conditions of Subparagraph 12.2.1 have
been met, the Architect will, within seven days after receipt of the written
report of the Owner's accountants, either issue to the Owner a final Certificate
for Payment with a copy to the Contractor, or notify the Contractor and Owner
in writing of the Architect's reasons for withholding a certificate as provided
in Subparagraph 9.5.1 of the AIA Document A201-1997. The time periods stated in
this Subparagraph 12.2.3 supersede those stated in Subparagraph 9.4.1 of the
AIA Document A201-1997.
12.2.4 If the Owner's accountants report the Cost of the Work as substantiated
by the Contractor's final accounting to be less than claimed by the
Contractor, the Contractor shall be entitled to demand arbitration of the
disputed amount without a further decision of the Architect. Such demand for
arbitration shall be made by the Contractor within 30 days after the
Contractor's receipt of a copy of the Architect's final Certificate for Payment;
failure to demand arbitration within this 30-day period shall result in the
substantiated amount reported by the Owner's accountants becoming binding on the
Contractor. Pending a final resolution by arbitration, the Owner shall pay the
Contractor the amount certified in the Architect's final Certificate for
Payment.
12.2.5 If, subsequent to final payment and at the Owner's request, the
Contractor incurs costs described in Article 7 and not excluded by Article 8 to
correct defective or nonconforming Work, the Owner shall reimburse the
Contractor such costs and the Contractor's Fee applicable thereto on the same
basis as if such costs had been incurred prior to final payment, but not in
excess of the Guaranteed Maximum Price. If the Contractor has participated in
savings as provided in Paragraph 5.2, the amount of such savings shall be
recalculated and appropriate credit given to the Owner in determining the net
amount to be paid by the Owner to the Contractor.
ARTICLE 13 TERMINATION OR SUSPENSION
13.1 The Contract may be terminated by the Contractor, or by the Owner for
convenience, as provided in Article 14 of AIA Document A201-1997. However, the
amount to be paid to the Contractor under Subparagraph 14.1.3 of A1A Document
A201-1997 shall not exceed the amount the Contractor would be entitled to
receive under Paragraph 13.2 below, except that the Contractor's Fee shall be
calculated as if the Work had been fully completed by the Contractor, including
a reasonable estimate of the Cost of the Work for Work not actually completed.
13.2 The Contract may be terminated by the Owner for cause as provided in
Article 14 of AIA Document A201-1997. The amount, if any, to be paid to the
Contractor under Subparagraph 14.2.4 of AIA Document A201-1997 shall not cause
the Guaranteed Maximum Price to be exceeded, nor shall it exceed an amount
calculated as follows:
13.2.1 Take the Cost of the Work incurred by the Contractor to the date of
termination;
13.2.2 Add the Contractor's Fee computed upon the Cost of the Work to the date
of termination at the rate stated in Subparagraph 5.1.2 or, if the Contractor's
Fee is stated as a fixed sum in that Subparagraph, an amount that bears the
same ratio to that fixed-sum Fee as the Cost of the Work at the time of
termination bears to a reasonable estimate of the probable Cost of the Work
upon its completion; and
13.2.3 Subtract the aggregate of previous payments made b\ the Owner.
13.3 The Owner shall also pay the Contractor fair compensation, either by
purchase or rental at the election of the Owner, for any equipment owned by the
Contractor that the Owner elects to retain and that is not otherwise included in
the Cost of the Work under Subparagraph 13.2.1. To the extent that the Owner
elects to take legal assignment of subcontracts and purchase orders (including
rental agreements), the Contractor shall, as a condition of receiving the
payments referred to in this Article 13, execute and deliver all such papers
and take all such steps, including the legal assignment of such subcontracts
and other contractual rights of the Contractor, as the Owner may require for
the purpose
of fully vesting in the Owner the rights and benefits of the Contractor under
such subcontracts or purchase orders.
13.4 The Work may be suspended by the Owner as provided in Article 14 of
AIA Document A201-1997; in such case, the Guaranteed Maximum Price and
Contract Time shall be increased as provided in Subparagraph 14.3.2 of AIA
Document A201-1997 except that the term "profit" shall be understood to mean the
Contractor's Fee as described in Subparagraphs 5.1.2 and Paragraph 6.4 of this
Agreement.
ARTICLE 14 MISCELLANEOUS PROVISIONS
14.1 Where reference is made in this Agreement to a provision A1A Document
A201-1997 or another Contract Document, the reference refers to that provision
as amended or supplemented by other provisions of the Contract Documents.
14.2 Payments due and unpaid under the Contract shall bear interest from the
date payment is due at the rate stated below, or in the absence thereof, at the
legal rate prevailing from time to time at the place where the Project is
located. (Insert rate of interest agreed upon, if any.)
(Usury laws and requirements under the Federal Truth in Lending Act, similar
state and local consumer credit laws and other regulations at the Owners and
Contractor's principal places of business, the location of the Project and
elsewhere may affect the validity of this provision. Legal advice should be
obtained with respect to deletions or modifications, and also regarding
requirements such as written disclosures or waivers.)
14.3 The Owner's representative is: MR. XXXX XXXXX
(Name, address and other information) 000 XXXXXX-XXXXXX XXXX
XXXXXX, XX 00000
(000) 000-0000
14.4 The Contractor's representative is: MR. XXXXXX XXXXXX
(Name, address and other information) 0000 XXXXXXX XXXXXX
XXXXXXXXXXX, XX 00000
(000) 000-0000
14.5 Neither the Owner's nor the Contractor's representative shall be changed
without ten days' written notice to the other party.
14.6 Other provisions:
A) THE CONTRACTOR WILL ENDEAVOR TO SECURE AT LEAST THREE (3) BIDS
ON ALL MAJOR COMPONENTS OF WORK. DUE TO THE TIME CONSTRAINTS IMPOSED
ON THIS PROJECT THIS MAY NOT ALWAYS BE POSSIBLE. HOWEVER, A MINIMUM OF
TWO (2) BIDS WILL BE REQUIRED ON ALL MAJOR COMPONENTS OF WORK PRIOR TO
THE EXECUTION OF ANY SUB-CONTRACTS FOR THIS PROJECT.
B) XXXXXX & XXXX BUILDERS, INC., WILL INDEMNIFY M.T.I. TO THE
GREATEST EXTENT POSSIBLE FOR ANY ERRORS IN CONSTRUCTION.
C) IF M.T.I. CHOOSES TO COMPLETELY DELETE A SPECIFIED SECTION OF
PROPOSED WORK AS DESCRIBED IN THE 6/19/98 PRELIMINARY PROPOSED BUDGET,
THEN M.T.I. WILL RECEIVE 100% OF THE SAVINGS FOR THAT ITEM AND NO
SHARED SAVINGS WILL BE DISTRIBUTED.
ARTICLE 15 ENUMERATION OF CONTRACT DOCUMENTS
15.1 The Contract Documents, except for Modifications issued after execution
of this Agreement, are enumerated as follows: (SEE 15.1.4 AND 15.1.5)
15.1.1 The Agreement is this executed 1997 edition of the Standard Form of
Agreement Between Owner and Contractor. AIA Document A201-1997.
15.1.2 The General Conditions are the 1997 edition of the General Conditions
of the Contract for Construction, AIA Document A201-1997.
15.1.3 The Supplementary and other Conditions of the Contract are those
contained in the Project Manual dated , and are as follows:
Document Title Pages
"NONE"
15.1.4 The Specifications are those contained in the Project Manual dated as in
Subparagraph 15.1.3., and are as follows:
(Either list the Specifications here or refer to an exhibit attached to this
Agreement)
Section Title Pages
1. GEOTECHNICAL REPORT JUNE 2, 1998 BY XXXXXX XXXXXXX P.E.
2. 03300S CAST-IN-PL&CE CONCRETE 1-19
3. 03320 CONCRETE SLAB ON GRADE 1-9
4. 03325 CONCRETE STAR ON METAL DECK 1-8
15.1.5 The Drawings are as follows, and are dated , unless a
different date is shown below:
(Either list the Drawings here or refer to an exhibit attached to this
Agreement)
Number Title Date
1 PERSPECTIVE/ELEVATION 5/19/98
A-1 FIRST FLOOR PLAN 6/05/98
A-2 SECOND FLOOR PLAN 5/29/98
S-1 FOUNDATION PLAN 6/19/98
S-2 SECOND FLOOR FRAMING PLAN 5/29/98
S-3 ROOF FRAMING PLAN 5/29/98
S-4 FOUNDATION DETAILS 6/16/98
15.1.6 The Addenda, if any, are as follows:
Number Date Pages
"NONE"
Portions of Addenda relating to bidding requirements are not part of the
Contract Documents unless the bidding requirements are also enumerated in
this Article 15.
15.1.7 Other Documents, if any, forming part of the Contract Documents are as
follows: (List here any additional documents, such as a list of alternates that
are intended to form part of the Contract Documents. AIA Document A201-1997
provides that bidding requirements such as advertisement or invitation to bid,
instructions to Bidders, sample forms and the Contractor's bid are not part of
the Contract Documents unless enumerated in this Agreement. They should be
listed here only if intended to be part of the Contract Documents.)
1) LIST OF EXCLUSIONS - 1 PAGE (SEE ENCLOSED)
2) PRELIMINARY PROPOSED BUDGET DATED JUNE 19, 1998 - 3 PAGES (SEE ENCLOSED)
3) X.X. XXXXX ELECTRICAL CO., INC., PROPOSAL DATED JUNE 16, 1998 - 3 PAGES
(SEE ENCLOSED)
4) XXXXXX.J - DOWN PROPOSAL DATED JUNE 15, 1998 - 2 PAGES (SEE ENCLOSED)
5) GENERAL CONDITIONS DATED MAY 29, 1998 - 1 PAGE (SEE ENCLOSED)
MTI BUILDING ONE - CONSTRUCTION
Exclusions
1. SECURITY AND ALARM SYSTEMS
2. PHONE SYSTEMS
3. DATA/COMPUTER SYSTEMS
4. HVAC AND ELECTRICAL REQUIREMENTS FOR SPECIAL
EQUIPMENT
5. TAXES
6. PERFORMANCE
7. A & E FEES
8. PLANNING AND ZONING FEES
9. FURNISHINGS
10. POWER USAGE CHARGES
11. MITIGATION FEES
12. SIGNAGE
13. REMOVAL OF HAZARDOUS MATERIAL OR UNDERGROUND
OBSTRUCTIONS
14. BUILDER RISK INSURANCE
MTI BUILDING 1
PRELIMINARY PROPOSED BUDGET
DESCRIPTION BUDGET
6/19/98
32005sf
DIVISION 1-G.C.
1 General Conditions 109,910 See Breakdown
2 Temp. Enclosure 6,750 9000sf @ $ .75/sf
3 Building Permits 12,775
DIVISION 1 Totals 129,435
DIVISION 2 SITEWORK
1 Earthwork/Site Utilities 54,200 Xxxxxx Construction Co.
2 Site Grading 7,400 800 cy fill @ $9.25/cy
3 Site Concrete 21,927
4 Planter Allowance 26,580
5 Landscaping Allowance 20,000
DIVISION 2 Totals 130,107
DIVISION 3 - CONCRETE
1 Concrete Work 95,400 424cy @ 225/cy avg.
2 Slabs 67,500 30,000sf @ $ 2.25/sf
3 Insulation 2,400 3,000 sf @ $ .80/sf
4 Base Plate Grouting 1,485 27 Base Plates@ $55 each
5 Stair Nosings 4,400 44 Nosings @ 100/Nosing
DIVISION 3 Totals 171,185
DIVISION 4 - MASONRY
1 Masonry 51,328
2 Brick (Exterior) 102,878 62,350 brick @$1.65/brick
($11.96/sf)
3 Brick (Interior Lobby) 11,963 7,250 brick @ $1.65/brick
($11.96/sf)
DIVISION 4 Totals 166,169
DIVISION 5 - STEEL
1 Structural/Misc. Steel 210,000 30,000 sf @ $ 7/sf
2 Main Entry Stair Structure 0
DIVISION 5 Totals 210,000
DIVISION 6 - CARPENTRY
1 Finish Carpentry Allowance 10,000
2 Millwork 9,735 21lf of Cabinets@$215/lf/
435lf Xxxxx @ $12/lf
3 Chair Rail 3,868 455lf @ $ 8.50/lf
4 Reception Desk Allowance 18,500
5 Install Doors & Hardware 9,700 97 doors @ $100/door
DIVISION 6 Totals 51,803
DIVISION 7 PROTECTION
1 Waterproofing 2,979 1120sf @ 2.66/sf
2 Joint Sealers 27,450 DMD Interiors
3 Roof Blocking 6,200 Weatherguard Roofing
4 Single Ply Roofing 57,099 Weatherguard Roofing
5 Skylights(3 @ 5'-0" x 5'-0") 5,280 Weatherguard Roofing
DIVISION 7 Totals 99,008
DIVISION 8 DOORS
Doors, Frames & Hardware
1 Special Doors(3'-0" x 8'-0") 14,670 15 Doors @ $978/door
2 Standard Doors(3'-0" x 7'-0") 40,053 79 Doors @ $507/door
3 Bi-fold Doors 873 3 Doors @ $291/door
4 Insulated O.H. Coiling Doors 8,700 Albany O.H. Door Co.(4
Doors @ $2,175/door)
5 Access Doors 1,470 10 Doors @ $147/door
6 Alum. Systems 208,165 Precision Glass
7 Aluminum Window Upgrade 0 C S Architectural
8 Aluminum Panels 0 C S Architectural
9 Ornamental Trellis Allowance 47,500 Precision Glass
10 Interior Aluminum Framing 25,866 1080sf @ $23.95/sf
DIVISION 8 Totals 347,297
DIVISION 9 FINISHES
1 Exterior Metal Framing 71,525 C S Architectural
2 Gypsum Sheathing in Lobby 3,696 DMD Interiors
3 Exterior Gypsum Sheathing 9,460 DMD Interiors
4 Gypsum Systems 165,525 DMD Interiors
5 Acoustical Ceilings 69,710 DMD Interiors
6 Shaftwall 2,710 DMD Interiors
7 Ceramic Tile 27,678 Dibarnardo Tile(Bathroom
Walls Full Height)
8 Granite Flooring (Lobby) 22,800 1140sf @ 20/sf
9 Granite Stair Treads 5,000 20 Treads @ $250/tread
10 V.C.T. & Sheet Vinyl 11,956 9,565sf @ $1.25/sf
11 Carpet (Executive Suite) 12,000 400sy @ $30/sy
12 Carpet 22,225 1,270sy @ $17.50/sy
13 Entrance Mat 1,770 Main Vestibule
14 Rubber Base 5,350 5,350lf @ $1.00/lf
15 Vinyl Wallcovering 6,450 Quality Painters
16 Painting 32,250 Quality Painters
DIVISION 9 Totals 470,105
DIVISION 10 SPECIALTIES
1 Toilet & Bath Accessories F & I 4,300 Colonie Construction Products
2 Toilet Partitions 1,425 Colonie Construction Products
3 Louvers and Vents 1,000 Colonie Construction Products
DIVISION 10 Totals 6,725
DIVISION 14 ELEVATOR
1 Hydraulic Elevator (2 Stop) 35,000 Baystate Elevator
2 Dock Leveler Shelter 4,495 MHP Corp.
DIVISION 14 Totals 39,495
DIVISION 15 & 16 Mech/Elec
1 Sprinkler 37,900 Albany Fire Protection
2 HVAC 202,859 Xxxxxx X Xxxxx
3 Plumbing 53,108 Xxxxxx Plumbing
4 Electrical 146,700 Mend Electric
DIVISION 15 & 16 Totals 440,567
CONSTRUCTION COSTS 2,261,896
S.F. Increase 1260sf @ $73.57/sf 92,698
OVERHEAD & PROFIT FIXED FEE 308,527
TOTAL PRELIMINARY BUDGET 2,663,121
X. X. XXXXX ELECTRICAL CO., INC.
000 XXXXXXXX
XXXXXX, XXX XXXX 00000
(000) 000-0000
(000) 000-0000 FAX
June 16, 1998
PROPOSAL
Xxxxxx & Xxxx Builders
0000 Xxxxxxx Xxxxxx
Xxxxxxxxxxx, Xxx Xxxx 00000
Project: MTI
Xxxxxx, New York
Supply and install electrical on a Design-Built basis.
SERVICE:
A. 800 amp feeder from existing transformer.
B. Metering device.
C. (2) 800 amp, 3 phase, 4 wire, 277/480 volt panelboards.
D. (1) 225 amp, 3 phase, 4 wire, 277/480 volt panelboard
with 150 amp head breaker amp head breaker.
E. (1) 600 amp, 3 phase, 4 wire, 120/208 volt panelboard.
F. (2) 400 amp, 3 phase, 4 wire, 120/208 volt panelboard.
G. (6) 225 amp, 3 phase, 4 wire, 120/208 volt panelboard.
H. (1) 150 KVA transformer, 480-120/208 volt.
I. (1) 225 KVA transformer, 480-120/208 volt.
See 1 line diagram of electrical service:
A. (2) 3 1/2" conduit with (4) 500 MCM and 1 #2 eq. ground.
B. (1) 2" conduit with (4) #1/0 and 1 #6 eq. ground.
C. (1) 2 1/2" conduit with (3) 350 MCM and 1 #4 eq. ground.
D. (2) 3" conduit with (4) 350 MCM and 1 #4 eq. ground.
E. (1) 2" conduit with (4) 4/0 and 1 #4 eq. ground.
F. (1) 2" conduit with (3) 3/0 and 1 #4 eq. ground.
DEVICES:
(317) 15 amp outlets
( 19) 20 amp outlets
( 6) 15 amp GFIC outlets
( 7) 15 amp GFIC weatherproof outlets
( 1) 120V outlet floorbox
( 1) telephone outlet floorbox
( 83) single pole wall switches
( 26) 3 way wall switches
( 1) 4 way wall switch
( 10) 6 ft. plug strips
( 13) J boxes with final connection to furniture modules
(105) 20 amp circuits for the above
LIGHTING:
( 2) 2x2 lay-in prismatic lens, 2 lamp fixture
( 38) 2x4 lay-in prismatic lens, 4 lamp fixture
( 39) 2x2 lay-in parabolic lens, 2 lamp fixture
(186) 2x4 lay-in parabolic lens, 4 lamp fixture
( 14) 36" wall mount, 2 lamp fluorescent fixture
( 3) 4 ft., 2 lamp recessed open style fixture
( 90) 8 ft., 4 lamp recessed open style fixture
( 7) 100 watt incandescent hi-hat
( 19) 26 watt twin fluorescent hi-hat
( 3) 26 watt twin fluorescent wall wash
( 5) 100 watt metal halide hi-hat
( 1) 200 watt incandescent explosion proof fixture
( 4) 100 watt metal halide wall packs
( 14) exit lights LED with battery backup
( 19) exit and emergency LED with battery backup
( 30) emergency lights
HVAC & VENTILATION:
( 1) oven hood fan
( 2) roof exhaust fans
( 1) Sanyo single phase, 208 volt, 20 amp
( 1) gas unit heater
( 20) heating control transformers
( 1) 20 ton HVAC
( 3) 12.5 ton HVAC
( 1) 10 ton HVAC
( 1) 7.5 ton HVAC
EQUIPMENT:
( 2) 50 amp single phase, 208 volt outlets, (oven)
( 2) 20 amp, 120 volt outlet, (oven)
( 10) units as per shop equipment sheet
FIRE ALARM:
( 1) FCI-7200 Analog Panel with Initial Capacity of 197 Points
( 1) Battery Compliment
( 36) Addressable Smoke Detector and Base
( 7) Addressable Smoke Detector with Relays
( 4) Addressable Heat Detectors
( 9) Addressable Pull Stations
( 18) Horn/Strobe
( 1) Auxiliary Power Supply with Batteries
( 3) Strobe Only
( 3) Addressable Modules
( 1) Remote LCD Display
( 3) Addressable Heat with Relay
( 1) Explosion Proof Heat Detector
( 6) Duct Detector (address with tubes & remote)
( 3) Fan Shutdown Relays
Price for the above project: $169,220.00
Deduct for Fire Alarm System: $ 22,520.00
Price Includes: Filing and inspection fees
Shop Drawings
Use Tax
Price Excludes: Utility Co. Charges
Incoming telephone conduit
Telephone/computer cabling
Site lighting
Excavation and backfill
_______________________________________________
June 15, 1998
MTI
Albany Shaker Road
Latham, NY
HVAC SCOPE OF WORK
FOR BUILDING #1
GENERAL: Gas heat-electric cooling rooftop units with zoning capabilities.
ROOFTOP EQUIPMENT: 6 Carrier rooftop units on factory curbs with fresh air
economizers and high efficiency 2" filters, total cooling capacity of 75-tons.
ZONING: 36 zones consisting of Carrier VVT system. Each zone has individual
controls with setback and override capabilities.
COMPUTER ROOM: Individual split system with air conditioning, dehumidifying
and reheat capabilities, NORTEC steam generator with flushing cycle. High
efficiency filters. Air conditioner will be equipped with low ambient
controls for winter operation.
2 SMOKER'S LOUNGES: Electronic air cleaners and air-to-air heat exchangers.
SHIPPING AND RECEIVING: Supplemental Reznor gas fired unit heater.
REGISTERS AND GRILLES: All supply diffusers will be 24 x 24 lay-in, louvered,
white finished, 4-way blow ceiling diffusers. Return grilles will be
24 x 24 lay-in, white perforated return grilles.
Two-story are will receive a linear diffuser along glass area in ceiling.
BATHROOMS: Complete exhaust system to roof mounted ventilator.
OVEN ROOM: Exhaust hood & roof ventilator.
CLEAN ROOM: Supply register installed in ceiling.
ENTIRE INSTALLATION INCLUDES:
- 1-year parts and labor warranty
- Manufacturer's 5-years parts only on compressors
- Manufacturer's 20-years parts only on heat exchanger
Installation does not including: Line voltage wiring, roof supports or flashing,
gas piping, taxes, fire dampers.
TOTAL INVESTMENT - $202,859.00
The above installation includes 30 main returns or returns in every room if
the ceiling is used as a plenum.
For a ducted return system ADD - $23,829.00
Xxxxxx X. Xxxxxx
Commercial Sales Representative
GSD:gk
NOTE:
1. LINE VOLTAGE WIRING IS SUPPLIED BY THE ELECTRICIAN
2. ROOF SUPPORTS SUPPLIED BY THE STEEL FABRICATOR
3. ROOF FLASHINGS SUPPLIED BY THE ROOFING CONTRACTOR
4. GAS PIPING WILL BE SUPPLIED BY THE HVAC CONTRACTOR
General Conditions
Quantity Unit Unit Cost Total
Bond 2,400,000 $ See Breakdown $ 0
Insurance 2,400,000 $ $ 0.006 $ 14,400
Superintendent 20 Weeks $1,200 $ 24,000
Misc. Labor 20 Weeks $ 400 $ 8,000
Misc. Materials 1 LS $2,500 $ 2,500
Trailers 4 Months $ 450 $ 1,800
Phone 4 Months $ 300 $ 1,200
Toilet 4 Unit Months $ 140 $ 560
Temporary Heat 0 Months $5,000 $ 0
Dumpster 35 Dumpsters $ 600 $ 21,000
Site Fencing 700 LF $ 5.50 $ 3,850
Testing 1 LS $9,000 $ 9,200
Survey 1 LS $8,000 $ 8,400
Trailor Equipment 1 LS $2,000 $ 2,000
Drinking Water 1 LS $1,000 $ 1,000
Final Cleaning 30,000 SF $ 0.25 $ 7,500
Permit 0 LS $1,500 $ 0
Blueprints 20 Sets $ 50 $ 1,000
Progress Photo's 1 LS $1,000 $ 1,000
Temp. Railings & Barricades 1 LS $2,000 $ 2,000
Fire Extinguishers 1 LS $ 500 $ 500
TOTAL $109,910
ARTICLE 16 INSURANCE AND BONDS
(List required limits of liability for insurance and bonds. AIA Document
A201-1997 gives other specific requirements for insurance and bonds.)
1. PERFORMANCE BOND (IF REQUIRED WILL BE SUPPLIED AT M.T.B. ACTUAL COST
WITH NO MARK-UP)
2. LABOR AND MATERIAL BOND (IF REQUIRED WILL BE SUPPLIED AT M.T.B. ACTUAL
COST WITH NO MARK-UP
3. GENERAL LIABILITY INSURANCE LIMITS:
A. $1,000,000.00 EACH OCCURRENCE
B. $2,000,000.00 GENERAL AND COMPLETED OPERATIONS AND
PRODUCTS AGGREGATES
C. ADDITIONAL INSURED/PRIMARY (THE PRIMARY WORDING INDICATES THAT THE
ADDITIONAL INSURED PROVISION IS THE PRIMARY POLICY TO RESPOND)
D. DESIGNATED PROJECT LIMITS & AGGREGATE ENDORSEMENT
(IDENTIFIES THE LIMITS PROVIDED ARE FOR THIS SPECIFIC CONTRACT ONLY)
4. AUTOMOBILE
A. $1,000,000.00 COMBINED SINGLE LIMIT
5. WORKER'S COMPENSATION AND EMPLOYER'S LIABILITY
A. $100,000.00 EACH ACCIDENT
B. $500,000.00 DISEASE POLICY LIMIT
C. $100,000.00 EACH EMPLOYEE
6. EXCESS LIABILITY UMBRELLA
A. $2,000,000.00 EACH OCCURRENCE
B. $2,000,000.00 AGGREGATE
This Agreement is entered into as of the day and year first written above and
is executed in at least three original copies, of which one is to be delivered
to the Contractor, one to the Architect for use in the administration of the
Contract, and the remainder to the Owner.
/s/ Xxxxxxx X. Xxxxxxx Vice President and Chief Financial Officer
-------------------------------------------------------------------------------
OWNER (Signature) CONTRACT (Signature)
XXXXXX & XXXX BUILDERS, INC.
/s/ Xxxxxxx X. Xxxxxx XXXXXXX X. XXXXXX, C.E.O.
-------------------------------------------------------------------------------
(Printed name and title) (Printed name and title)
Caution: You should sign an original AIA document or a licensed reproduction.
Originals contain the AIA logo printed in red; licensed reproductions are
those produced in accordance with the Instructions to this document.
