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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 an the Project site (with the balance being retainage ) . Fina ! 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 , farm 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 of eighteen ( 18 ) consecutive months from the date of this Contract by both parties unless terminated earlier in accordance with its terms . The County may extend the term of this Contract for up to three ( 3 ) additional terms of twelve ( 12) months each on the same terms and conditions . Page 24 of 30 F:1Public Works\Hurricane - Disaster Preparedness\Hurricane 20111Debris Removal Bid & Contract docslHurricane Debris Removal Bid Doc 03-01 - 11 . doc