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Home My Public Portal Aboutr 07:063 2Rezoluthm of t4e ~oroug4 of aIcrrteret, ~ ~ W ~ No. 07-63 Date of Adoption February 15, 2007 APPROVING CLOSE our CHANGE ORDER # 3 & FINAL PAYMENT ESTIMATE # 14 FOR THE WATERFRONT PARK-PHASE 2 PROJECT WHEREAS, the Governing Body of the Borough of Carteret has previously awarded a contract to V &K Construction for the Waterfront Park-Phase 2 Project; and WHEREAS, the Borough's Consulting Engineer for the project has advised the Governing Body that a modification of the contract is reasonable and necessary and has recommended that the aforesaid contract be modified in accordance with Contract Change Order #3 & Final Payment Estimate #14 (see attached); and WHEREAS, Change Order #3 & Final Payment Estimate #14 results in a decrease in the contract price, as set forth therein; and WHEREAS, the Borough's Consulting Engineer has advised that the above described changes and/or modifications to the project were unforeseen at the time of the award of the original contract. NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council ofthe Borough of Cmieret as follows: 1. That the above-described Contract Change Order #3 & Final Payment Estimate #14, a copy of which is attached hereto and made a part hereof, resulting in a Revised Contract Price of $1,304,253.60, including any modifications to the original contract price in accordance with any and all previously approved change orders, is hereby approved. 2. That the appropriate Borough Officials are hereby authorized to execute Contract Change Order #3 & Final Payment Estimate #14 based upon the recommendation ofthe Borough's Consulting Engineer. 3. That the Borough Purchasing Department is hereby authorized to issue payment pursuant to the above-described Change Order and corresponding payment celiification. Adopted this 15th day of February, 2007 and certified as a tme copy of the original on February 16, 2007. KATHLEEN M. BARNEY, RMC/CMC Municipal Clerk RECORD OF COUNCIL VOTE COUNCILMAN YES NO NY A.B. COUNCILMAN YES NO NY A.B. BELLINO X NAPLES X DIAZ X RIOS X - - , - KRUM X SITARZ x X - Indicate Vote A B - Absent NV - Not Voting XOR - Indicates Yote to Overrule Yeto Adopted at a meeting of the Municipal Council ~brua:Y 15, 2007 ~L~~/lL?-<;. - C~R 0 - JOHN H. ALLGAIR, P.E., P.P. (1983-2001) DAVID J. SAMUEL, P.E., P.P. JOHN J. STEFANI, P.E., L.S., P.P. JAY B. CORNEll, P.E., P.P. MICHAEL J. McCLELLAND, P.E., P.P. GREGORY R. VALESI, P.E., P.P. TIMOTHY W. GILLEN, P.E., P.P. BRUCE M. KOCH, P.E., P.P. ERNEST J. PETERS, JR., P.E., P.P. January 29, 2007 , ':\ Mayor Daniel Reiman and Borough Council Borough of Carteret Municipal Building 61 Cook Avenue Carteret, NJ 07008 , fl" Attn: Kathleen Barney Borough Clerk Re: Closeout Change Order No.3 and Final Payment Estimate No. 14 Waterfront Park - Phase 2 V & K Construction CME File: H-CA-00502-01 Dear Ms. Barney: Transmitted herewith please find Closeout Change Order NO.3 and Final Payment Estimate No. 14 for the above referenced project as approved by this office for your further handling. The project has been completed by V & K Construction in a satisfactory manner and acceptance of the improvements is recommended. The Closeout Change Order reflects the deletion of three (3) safety bollards that were not required to complete the project and a final contract amount of $1,304,253.60. The Payment Estimate reflects a final amount due the contractor of $32,038.57 which includes work completed since the last payment estimate and return of the 2% retainage held until acceptance of the project. ~ In accordance with the contract documents, a two-year maintenance bond in the amount of 25% of the final contract amount, or $326,063.40 is required. Accordingly, the release of final payment should be contingent upon the submittal of the maintenance bond in a form acceptable to the Borough Attorney. /_ 3/ -C? ~ It is our understanding that the Contractor has required about relief from the ~ /1. maintenance bond requirement. Due to the fact that most of the major components olf/rJ .'I--'L-/ the project have been installed and in service for more than a year, this office would 1- ~ ' Carteret\L TR\502-01 Mayor PayEst14FinaI1-25-07 C~ i~\ ,t>\ c:k:z \'~ /)c::r-@ C0NSLl.1'1r'.IG AND P4JN1CPAL ENGN:ERS 1460 ROUTE 9 SOUTH, HOWELL, NEW JERSEY On31 - (732) 462-7400 - FAX: (732) 409-0756 - Re: Borough of Carteret Mayor and Council Waterfront Park - Phase 2 January 29, 2007 Page 2 have no objection to reducing the term of the bond from two years to one year at the discretion of Mayor and Council. We trust this is the information you require at this time; however, if you have any questions or comments, please do not hesitate to contact this office. Very truly yours, CME Associates Gregory R. Valesi, PE Partner GRV/GJR Enclosures C: John DuPont, PE Patti Ercolino, Finance Office V & K Construction Carteret\L TR\502-01 Mayor PayEst14FinaI1-25-07 @