Procurement of Construction Contractor Sample Clauses

Procurement of Construction Contractor. The parties hereto agree and acknowledge that the estimated cost to design, grade, and construct the improvements to

Procurement of Construction Contractor. The parties hereto agree and acknowledge that the estimated cost to design, grade, and construct the improvements to X. Xxxxxxxx Xxxxxx described herein are One Million Two Hundred Twent>^ Eight Thousand One Million Three Hundred Seventy-Two Thousand Three Hundred Sixty- seven and N08O/IOO Dollars f$l,228,000.001,372.367,801. As a result ofthe City agreeing to reimburse Owner for the costs to design, grade, and construct this section ofW. Holdrege as described herein. Owner shall procure a contractor(s) to grade and construct said improvements by public bids through the City’s Purchasing Division and shall select the lowest responsible bidder identified through that process. Owner, by agreeing to design and construct said improvements at its cost, reserves the right to reject all bids for the design and construction ofthe West Holdrege Street Improvements ifsaid costs exceed the estimate provided herein. In the alternative, the Owner and City agree to jointly consider alterations to the design in order to achieve cost savings necessary to reduce the costs of said project to an amount consistent with the above estimate. The ultimate approval of any such alterations shall be in the discretion of the Director of the Department of Transportation and Utilities ofthe City of Lincoln.