Finance Committee

Finance Committee Page 2
September 7, 2016

REPORT OF THE FINANCE COMMITTEE
SEPTEMBER 7, 2016

A meeting of the Finance Committee was held on Wednesday, September 7, 2016, at 7:00 p.m. in the
Aldermanic Chamber.

Mayor Jim Donchess, Chair, presided.

Members of the Committee present: Alderman-at-Large Lori Wilshire
Alderman-at-Large Michael B. O’Brien
Alderman Benjamin M. Clemons
Alderman Ken Siegel

Members not in Attendance: Alderman-at-Large Mark S. Cookson, Vice Chair
Alderman June M. Caron

IN WITNESS WHEREOF, the parties hereto have caused this contract to be signed and intend to be
legally bound thereby.

City of Nashua, NH (signature) Johnson’s Electric (signature)
James Donchess, Mayor
(Printed Name and Title) (Printed Name and Title)
Date Date

Page 12 of 12

ARTICLE 16— DISPUTE RESOLUTION

Upon receipt of notice of termination for cause, CONTRACTOR shall:

1. Immediately discontinue work on the date and to the extent specified in the notice.

2. Provide the OWNER with a list of all unperformed services.

3. 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.

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

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 wiil 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.

10.

11.

12.

Once every thirty (30) days, the CONTRACTOR shall 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: Sonia Shahnaj

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 1 (one) year, upon completion

ARTICLE 7 - CONTRACTOR

lL.

10.

M1.

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.