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The CONTRACTOR ' s price at the time of delivery of goods and services will be : a) the price set forth on the Bid Form ; and b ) when not delineated on the Bid Form , the prices established in the version of the FEMA rate structures applicable when the CONTRACTOR is given Notice to Proceed . The CONTRACTOR , by June 1 of each year, shall notify the COUNTY in writing of any proposed price schedule changes with justification for each change . The COUNTY will either accept the proposed changes or decline to accept the price changes within thirty ( 30) days and ask for negotiation . Article 5 . PAYMENT PROCEDURES Progress Payments: OWNER shall make progress payments on account of the Contract Price on the basis of CONTRACTOR' s Applications for Payment at intervals not less than once each month during performance of the Work as provided below. 1 . Ninety percent ( 90 % ) of Work completed (with the balance being retainage ) ; and 2 . Eighty percent (80% ) of cost of materials and equipment not incorporated in the Work but stored on the Project site (with the balance being retainage) . Final Acceptance and Payment: When the work provided for under this contract has been completed , in accordance with the terms thereof, a payment request in the amount of such work shall be prepared by the CONTRACTOR , and filed with the OWNER within fifteen days after the date of completion . In accordance with the Florida Prompt Payment Act , after final acceptance by the OWNER , the OWNER shall make payment to the CONTRACTOR in the full amount . PAYMENT and acceptance of such payment by the CONTRACTOR shall release the OWNER from all claims or liabilities to the CONTRACTOR in connection with this Contract. Article 6 . THE CONTRACT DOCUMENTS The General Terms and Conditions , Invitation to Bid Form , Qualification Questionnaire , Special Provisions - Disaster Debris Removal and Disposal Services ( Exhibit B ) , Insurance Requirements ( Exhibit A) , Performance and Payment Bonds , together with this Agreement, form the Contract , and are fully a part of this Contract as if included herein . Article 7 . VENUE This agreement shall be governed by the laws of the State of Florida . Venue for any lawsuit brought by either party against the other party or otherwise arising out of this agreement shall be in Indian River County , Florida , or in the event of federal jurisdiction , in the United States District Court for the Southern District of Florida . Article 8 . CONTRACT PERIOD This Contract shall be binding on the parties for a period beginning on the date of this Contract through December 31 , 2013 , by both parties unless terminated earlier in accordance with its terms . . The County may extend the term of this Contract for up to two (2) additional terms of twelve ( 12 ) months each on the same terms and conditions . Page 24 of 30 CADocuments and Settings\jhyde\Local Settings\Temporary Internet Files\Content.Outlook\2UOPECNZ\Omni -Debris Removal Bid Doc 06- 11 -13 . doc