2004-11-08 Regular Meeting, Public Hearing and Workshop Meeting

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.;,; .3 For each Subcontractor or Sub-Subcontractor involved, for Work performed by that Subcontractor's or Sub-Subcontractor's own forces, a maximum markup of 10 percent of the actual cost. A For each Subcontractor, for Work performed by the Subcontractor's Sub-subcontrac- tor's 5 percent of the amount due the Sub-subcontractor. .5 Cost to which overhead and profit is to be applied shall be determined in accordance with Subparagraph 7.3.6. .6 In order to facilitate checking of quotations for extras or credits, all proposals except those so minor that their propriety can be seen by inspection, shall be accompanied by a complete itemization of costs including labor and materials. Subcontracts, Labor and materials shall be itemized in the manner prescribed above. Where major cost items are Subcontracts, they shall be itemized also. Subparagraph 7.3.6, at the end of the first sentence, delete "a reasonable allowance for overhead and profit" and substitute "an amount for overhead and profit in accordance with the schedule indicated in Subparagraph 7 .1A". ARTICLE 8 - TIME 8.1 DEFINITIONS Delete subparagraph 8.1.2 in its entirety and replace it with the following: 8.1.2 Unless agreed otherwise, the date inserted on the Agreement form and the Date of Commencement of the Work shall be as follows: .1 The date inserted on the first page of the Agreement form will be the date the Owner formally awards the Contract. As soon as feasible after receipt of Bids the Architect will present Agreement forms to the Contractor for review and signature; the Contractor will be allowed a maximum of five (5) days from the date the prepared Agreements are presented to (1) obtain the required bond forms and insurance certificates and (2) return the executed Agreements and supporting documents to the Architect for transmittal to the Owner for final review and execution. .2 The Date of Commencement ofthe Work is the date that either (1) the fully executed Agreement or (2) a written Notice to Proceed is delivered to the Contractor. At Subparagraph 8.1.4 add Clauses 8.1.4.1,8.1.4.2 and 8.1.4.3 .1 Calendar Days: The Contract Time is established in Calendar Days. Extensions of time granted for Regular work Days lost, if any, will be converted to Calendar Days. .2 Holidays: The days officially recognized by the construction industry in this area as a holiday; normally limited to the observance of New Year's Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving Day and the day after, and Christmas Day. 14