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Boa 99 mu <br />DESCRIPTION AND CONDITIONS <br />Weather permitting, construction is within four days of completion on the Vero <br />Beach PEP Reef, and American Coastal Engineering is requesting partial release <br />of retainage in the amount of $167,437.50. Attached is the Application for <br />Payment, Invoice No. VB96-006 and the Certificate of Substantial Completion. <br />Below is a tentative list of items to be corrected or complete before the entire <br />retainage is released. <br />1) Install nine steel end plates on remaining insure reef segments. <br />2) Install copper number plates on reef units. <br />3) Repair and/or patch approximately five reef units. <br />Also attached is the periodic progress report from Sea Systems Corp. for period <br />Oct. 1. 1996 thru Nov. 5, 1996. <br />ALTERNATIVES AND ANALYSIS <br />In analyzing the contract for final payment and acceptance Section E states "If <br />after the work has been substantially completed, full completion thereof is <br />materially delayed through no fault of the Contractor, the County shall.. and <br />without terminating the Contract, make payment of the balance due for that <br />portion of the work fully completed and accepted (as defined in Exhibit "B"). Such <br />payment shall be made under the terms and conditions goverrringfrnal payment, <br />except that it shall not constitute a waiver of claims. " <br />RECOMMENDATIONS AND FUNDING <br />Staff has review the attached paperwork and requests that the partial release of <br />retainage in the amount of $167,437.50 be approved. Funding to be from 128- <br />144-572-033.19 <br />ON MOTION by Commissioner Macht, SECONDED by <br />Commissioner Eggert, the Board unanimously approved <br />the partial release of retainage in the amount of <br />$167,437.50 to American Coastal <br />recommended in the Memorandum. <br />38 <br />November 26, 1996 <br />Engineering, as <br />