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  2. Finance Committee - Agenda - 9/7/2016 - P22

Finance Committee - Agenda - 9/7/2016 - P22

By dnadmin on Mon, 11/07/2022 - 09:49
Document Date
Wed, 09/07/2016 - 00:00
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 09/07/2016 - 00:00
Page Number
22
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__090720…

3. Ifthe CONTRACTOR fails to correct nonconforming Work within a reasonable time, the OWNER
may correct it and the CONTRACTOR shall reimburse the OWNER for the cost of the correction,

ARTICLE 14 ~ PROHIBITED INTERESTS

CONTRACTOR shall not allow any officer or employee of the OWNER to have any indirect or direct
interest in this contract or the proceeds of this contract. CONTRACTOR warrants that no officer or
employee of the OWNER has any direct or indirect interest, whether contractual, non-contractual, financial
or otherwise, in this contract or in the business of the CONTRACTOR. CONTRACTOR also warrants that
it presently has no interest and that it will not acquire any interest, direct or indirect, which would conflict in
any manner or degree with the performance of services required to be performed under this contract.
CONTRACTOR further warrants that no person having such an interest shall be employed in the
performance of this contract. If any such interest comes to the attention of: CONTRACTOR at any time, a
full and complete disclosure of the interest shall be immediately made in writing to the OWNER. If
OWNER determines that a conflict exists and was not disclosed to the OWNER, it may terminate the
contract at will or for cause.

ARTICLE 15 —- TERMINATION OF THE CONTRACT

1. Termination, Abandonment, Or Suspension At Will. The OWNER, in its sole discretion, shall
have the right to terminate, abandon, or suspend all or part of the project and contract at will. If the
OWNER chooses to terminate, abandon, or suspend all or part of the project, it shall provide
CONTRACTOR 10 day’s written notice of its intent to do so.

If ail or part of the project is suspended for more than 90 days, the suspension shall be treated as a
termination at will of all or that part of the project and contract.

Upon receipt of notice of termination, abandonment, or suspension at will, CONTRACTOR shall:

a. Immediately discontinue work on the date and to the extent specified in the notice.
b. Provide the OWNER with a list of all unperformed services.
c. Place no further orders or sub-contracts for materials, services, or facilities, other than as

may be necessary or required for completion of such portion of work under the contract that
is not terminated.

d. Immediately make every reasonable effort to obtain cancellation upon terms satisfactory to
the OWNER of all orders or sub contracts to the extent they relate to the performance of
work terminated, abandoned, or suspended under the notice, assign to the OWNER any
orders or sub contracts specified in the notice, and revoke agreements specified in the
notice.

e. Not resume work after the effective date of a notice of suspension until receipt of a written
notice from the OWNER to resume performance.

In the event of a termination, abandonment, or suspension at will, CONTRACTOR shall receive all
amounts due and not previously paid to CONTRACTOR for work satisfactorily completed in accordance
with the contract prior to the date of the notice and compensation for work thereafter completed as specified
in the notice. No amount shall be allowed or paid for anticipated profit on unperformed services or other
unperformed work.

2. Termination for Cause. This agreement may be terminated by the OWNER on 10 calendar day’s
written notice to CONTRACTOR in the event of a failure by CONTRACTOR to adhere to any or
all the terms and conditions of the contract or for failure to satisfactorily, in the sole opinion of the
OWNER, to complete or make sufficient progress on the work in a timely and professional manner,
CONTRACTOR shall be given an opportunity for consultation with the OWNER prior to the
effective date of the termination. CONTRACTOR may terminate the contract on 10 calendar days
written notice if, through no fault of CONTRACTOR, the OWNER fails to pay CONTRACTOR

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Finance Committee - Agenda - 9/7/2016 - P22

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