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  2. Finance Committee - Agenda - 6/3/2020 - P126

Finance Committee - Agenda - 6/3/2020 - P126

By dnadmin on Mon, 11/07/2022 - 13:29
Document Date
Fri, 05/29/2020 - 15:04
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 06/03/2020 - 00:00
Page Number
126
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__060320…

14.08 Final Completion Delayed

A. If, through no fault of CONTRACTOR, final completion of the Work is significantly delayed, and if ENGINEER so
confirms, OWNER shall, upon receipt of CONTRACTOR's final Application for Payment and recommendation of
ENGINEER, and without terminating the Agreement, make payment of the balance due for that portion of the Work
fully completed and accepted. If the remaining balance to be held by OWNER for Work not fully completed or
corrected is less than the retainage stipulated in the Agreement, and if Bonds have been furnished as required in
paragraph 5.01, the written consent of the surety to the payment of the balance due for that portion of the Work fully
completed and accepted shall be submitted by CONTRACTOR to ENGINEER with the Application for such payment.
Such payment shall be made under the terms and conditions governing final payment, except that it shall not constitute
a waiver of Claims.

14.09 Waiver of Claims
A. The making and acceptance of final payment will constitute:
1. A waiver of all Claims by CONTRACTOR against OWNER other than those previously made in writing which

are still unsettled.
ARTICLE 15 - SUSPENSION OF WORK AND TERMINATION

15.01 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.

Hf all 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 part of the project and contract.

Upon receipt of notice of termination, abandonment, or suspension at will, CONTRACTOR shall:
1. Immediately discontinue work on the date and to the extent specified in the notice.

2. Place no further orders or subcontracts 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.

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

4, 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.

15.02 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

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Finance Committee - Agenda - 6/3/2020 - P126

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