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Contract Terms and Conditions 222209954,0 m) Failure of the Contractor to submit the required Certificates of Insurance within the times required by this Section may result in a delay in issuing the Notice to Proceed. The parties specifically agree that such a delay is neither excusable nor compensable and will not entitle the Contractor to a change in the Contract Price or Time. 2.5. Optional Provision for Other Agencies Unless otherwise stipulated by the Bidder/Proposer in its Offer, the Bidder/Proposer agrees to make available to all government agencies, departments, and municipalities the Offer prices submitted in accordance with the terms and conditions of this Solicitation Document, should any governmental entity desire to buy under the Contract resulting from this Solicitation Document. 2.6. Price Escalation/De-Escalation (CPI) If the Contractor desires to request an increase pursuant to the following escalation clause for the annual period of the Contract, the Contractor shall submit, no later than ninety (90) Days prior to the annual anniversary date of the contract, the inflationary factor and background data based upon the following formula, to the County's Project Manager: a) New Fee = [ .75 X (CPI2 — CPI 1) _ CPI + 1] X Current Fee b) "CPI": The Consumer Price Index for the Urban Wage Earners and Clerical Workers, South Region - All Items, Not Seasonally Adjusted, published by the United States Department of Labor, Bureau of Labor Statistics h!W://www.bls.p,ov/ ). c) "CPI1 ": The published CPI for the month ending twelve (12) months prior to CPI2. d) "CPI2": The published CPI for the month ending one -hundred fifty (150) Days prior to the annual anniversary date of the Contract being adjusted. e) As of the annual anniversary date of this Contract, the County may decrease the Contract in accordance with the above Escalation/De-Escalation clause formula. The County shall notify the Contractor in writing of any such de-escalation. In no event shall either the escalation or the de-escalation exceed six percent (6%) in any year. 2.7. Purchase Order/Contract By submitting an Offer, the Bidder/Proposer declares that it understands and agrees that Bidder's/Proposer's Offer in addition to the Specifications, the Instructions, the General Terms and Conditions, the Special Terms and Conditions, the Insurance and Bond requirements, any Amendment(s) issued and all applicable attachments to this Solicitation Document shall become a valid contract between the County and the Contractor upon approval of the contract award by the Board of County Commissioners (if applicable), upon approval of the contract award by the County Administrator (if applicable), or upon the County's issuance of a Contract Purchase Agreement, Blanket Purchase Agreement, or Purchase Order, whichever occurs sooner. 2.8. Term Contract Clauses 2.8.1. Contract Period for Term Contract * The Contract resulting from this Solicitation Document will be in effect for a three (3) -year period (ending on the last day of the final month) from the effective date of the Contract as established by the County's Blanket Purchase Hillsborough County Board of County Commissioners Page 31 of 61