Laserfiche WebLink
<br />2370 <br /> <br />Par. 10 <br /> <br />delays in payments due to lack of funds. <br /> <br />c If at any time the contracting officer finds that <br />the balance of this reservation is in excess of the <br />estimated amount required to meet all payments <br />due and to become due the contractor because of <br />work performed or to be performed prior to July 1, <br />1970, the right is reserved to reduce said reservation <br />by the amount of such excess. The contractor will <br />be notified in writing of any such reduction. <br /> <br />d. If the rate of progress of the work is such that <br />me contracting officer finds that the balance of the <br />reservation is less than the estimated amount <br />required to meet all payments due and to become <br />aue because of work performed prior to July 1, <br />1970, the Government may reserve additional funds <br />rOf payments under this contract if there are funds <br />available for such purpose. The contractor will be <br />notified in writing of such additional reservation. <br /> <br />e S~ould it become apparent to the contractor that <br />existlng fund reservations will be exhausted within <br />the next 30 days, the contractor shall at that time <br />give wdtten notice thereof to the contracting <br />officer. If additional funds can be made available, <br />the contracting officer may issue an additional fund <br />reservation as provided for in Subparagraph d. <br />he...eof. It is expressly understood, however, that the <br />Government has no obligation to provide funds in <br />addition to those reserved in writing. The contractor <br />is also cautioned that the prosecution of the work at <br />a rate that will exhaust the funds reserved before <br />the end of the fiscal year will be at his own risk. If <br />additional funds cannot be made available, the <br />contracting officer will give written notice thereof <br />to the contractor. If at any time funds are being <br />made available by appropriations for interim periods <br />prior to the enactment of an Appropriation Act. the <br />contractor will be so advised in writing in which <br />case the other notice requirements of this <br />subparagraph will not apply. <br /> <br />If the contractor so elects he may continue work <br />under the conditions and restrictions of the <br />specifications after funds have been exhausted, so <br />long as there are funds for inspection and <br />supervision, concerning which he will be notified in <br />WI iting. No payment will be made for any work <br />done after funds have been exhausted unless and <br />until sufficient additional funds have been provided <br />by the Congress. When funds again become <br />available, the contractor will be notified in writing <br />as to the amount thereof reserved for payments <br />under this contract. The amount so reserved shall be <br /> <br />subject to decrease or increase in a manner similar <br />to that provided in Subparagraphs c. and d. hereof. <br />However, if the contractor so elects, the work may <br />be suspended when the available funds have been <br />exhausted. Should work be thus suspended, <br />additional time for completion will be allowed equal <br />to the period during which the work is necessarily <br />so suspended. <br /> <br />. <br /> <br />" <br /> <br />f. The procedure above described in this paragraph <br />shall be repeated as often as necessary on account of <br />exhaustion of available funds and the necessity of <br />awaiting the appropriation of additional funds by <br />Congress. <br /> <br />. <br /> <br />g. Should Congress fail to provide the expected <br />additional funds during its regular session, the <br />contract may, at the option of the contractor, by <br />written notice, be terminated and considered to be <br />completed without prejudice to him or liability to <br />the Government at any time subsequent to 30 days <br />after payments are discontinued, or subsequent to <br />30 days after passage of the Act which would <br />ordinarily carry an appropriation for continuing the <br />work, or after adjournment of the Congress which <br />failed to make the necessary appropriations. <br /> <br />11. PROGRESS PAYMENTS <br /> <br />. <br /> <br />Estimates for progress payments as provided in Clause <br />No. 7 of the General Provisions, will include items of <br />materials delivered on the site which will become a part <br />of the finished construction work and for which the <br />contractor presents satisfactory evidence that he has <br />acquired title to such materials. Invoices receipted by <br />the supplier showing that payment in full has been <br />made, or certificates from both the contractor and the <br />supplier warranting that full title to the materials is <br />vested in the contractor and that the materials are free <br />of liens and encumbrances, will be accepted as <br />satisfactory evidence that the contractor has acquired <br />title to the materials. No consideration, however, will <br />be given to individual purchases of less than five <br />hundred dollars 1$500) for anyone item. At the <br />discretion of the contracting officer, progress payments <br />may also include material or equipment delivered to <br />the contractor in whole or in part at locations other <br />than the site, including his supplier's plant or plants, <br />subject to the above provisions. No consideration will <br />be given to any other preparatory work done. <br /> <br />.0/. <br /> <br />" <br /> <br />12. QUANTITIES AND UNIT PRICES <br /> <br />a. General.- The quantities stated in the schedule <br />are estimated quantities for comparison of bids, and <br /> <br />. <br /> <br />6 <br />