Finance Committee

ARTICLE 11— RETAINAGE

1. The OWNER will retain a portion of the progress payment, each month, in accordance with
the following procedures:

a. The OWNER will establish an escrow account in the bank of the OWNER’s
choosing. The account will be established such that interest on the principal will be
paid to the CONTRACTOR. The principal will be the accumulated retainage paid
into the account by the OWNER. The principal will be held by the bank, available
only to the OWNER, until termination of the contract.

Once every thirty (30) days, the CONTRACTOR shail submit an itemized Application
for Payment for operations completed in accordance with the values stated in the
Agreement. Such application shall be supported by such data substantiating the
CONTRACTOR’ right to payment as the OWNER may reasonably require.

Application for Payment performed under this agreement shall be submitted directly to:

City of Nashua
Accounts Payable

PO Box 2019

Nashua, NH 03061-2019
Attn: Jay Hunnewell

13.

14.

15.

16,

The CONTRACTOR shall confine operations at the site to areas permitted by law,

ordinances, permits, the Contract Documents and the OWNER.

The CONTRACTOR shall be responsible for cutting, fitting or patching required

completing the Work or to make its parts fit together properly.

The CONTRACTOR shall keep the premises and surrounding area free from

accumulation of debris and trash related to the Work.

CONTRACTOR warrants and guarantees to OWNER, for I(one) year, upon completion

ARTICLE 7 —- CONTRACTOR

1.

10.

11.

12.

Execution of the Contract by the CONTRACTOR is a representation that the
CONTRACTOR has visited the site, become familiar with local conditions under which
the Work is to be performed and correlated personal observations with requirements of the
Contract Documents.

General Terms and Conditions

ARTICLE 5 — GENERAL PROVISIONS

1.

The Contract represents the entire and integrated agreement between the parties and
supersedes prior negotiations, representations or agreements, either written or oral. The
Contract may be amended or modified only by a written modification.

The term “Work” means the construction and services required by the Contract Documents,
and include all other labor, materials, equipment and services provided by the
CONTRACTOR to fulfill the CONTRACTOR’s obligations.

4. Participation or contributions by either the independent CONTRACTOR or the OWNER
to the public employee’s retirement system;

Accumulation of vacation leave or sick leave provided by the OWNER;

6. Unemployment compensation coverage provided by the OWNER.

wn

In the event of a conflict between the terms of the Proposals and the terms of this Agreement, a
written change order and/or fully executed OWNER Purchase Order, the terms of this Agreement,
the written change order or the fully executed OWNER Purchase Order shall control over the
terms of the Proposals

ARTICLE 2 — PERIOD OF PERFORMANCE

STANDARD FORM OF AGREEMENT
BETWEEN OWNER AND CONTRACTOR

This agreement is made:

BETWEEN the OWNER: City of Nashua, New Hampshire

229 Main Street
Nashua, NH 03060-2019

And the CONTRACTOR: Stanley Elevator Co. Inc.

9 Henry Clay Dr.

Merrimack NH 03054

and its successors, transferees and assignees
(together “CONTRACTOR?”)

For the following Project:

City Hall Elevator Modernization
Proposal #6021 dated 6/22/16

ARTICLE 1 —- THE CONTRACT DOCUMENTS

Lanley

vatar Company, inc.

TERMS AND CONDITIONS

Tax Payments: In addition to the amount set forth herein, the Customer agrees to pay any tax based upon the transfer, use,
ownership or possession of the Elevator or accessory equipment, whether such tax is imposed by existing law or take effect
during the terms of this proposal and acceptance.

~ Stanley

>»: :2,./ Elevator Company, Inc.

PRICE: Stanley Elevator Co., Inc. will perform the work as detailed above for the sum of
BASE PRICE: One Hundred Eighty Four Thousand and 00/100 Dollars ($184,000.00)

A returned copy of this proposal and/or your purchase order referencing this proposal properly signed and dated accompanied
by your down payment will be our authorization to order appropriate materials.