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Home My WebLink AboutCAG2023-062 - Amendment - #1 - Sound Native Plants, Inc. - 9500 Live Willow Stakes for Downey Side Channel Restoration - 03/01/2023Ap p r o v a l Originator:Department: Date Sent:Date Required: Director or Designee to Sign. Interlocal Agreement Uploaded to Website Date of Council Approval: Grant? Yes No Type: Re v i e w / Si g n a t u r e s / R o u t i n g Comments: Date Routed to the City Clerk’s Office: Ag r e e m e n t I n f o r m a t i o n Vendor Name:Category: Vendor Number:Sub-Category: Project Name: Project Details: Agreement Amount: Start Date: Basis for Selection of Contractor: Termination Date: Local Business? Yes No* Business License Verification: Yes In-Process Exempt (KCC 5.01.045) If meets requirements per KCC 3.70.100, please complete “Vendor Purchase-Local Exceptions” form on Cityspace. Notice required prior to disclosure? Yes No Contract Number: Agreement Routing Form For Approvals, Signatures and Records Management This form combines & replaces the Request for Mayor’s Signature and Contract Cover Sheet forms. Visit Documents.KentWA.gov to obtain copies of all agreementsadccW22373_1_20 Budget Account Number: Budget? Yes No Dir Asst: Sup/Mgr: Dir/Dep: rev. 20210513 FOR CITY OF KENT OFFICIAL USE ONLY (Optional) * Memo to Mayor must be attached AMENDMENT - 1 OF 2 AMENDMENT NO. 1 NAME OF CONSULTANT OR VENDOR: Sound Native Plants, Inc. CONTRACT NAME & PROJECT NUMBER: Downey Side Channel Restoration Project ORIGINAL AGREEMENT DATE: February 7, 2023 This Amendment is made between the City and the above-referenced Consultant or Vendor and amends the original Agreement and all prior Amendments. All other provisions of the original Agreement or prior Amendments not inconsistent with this Amendment shall remain in full force and effect. For valuable consideration and by mutual consent of the parties, Consultant or Vendor’s work is modified as follows: 1. Section I of the Agreement, entitled “Description of Work,” is hereby modified to add additional work or revise existing work as follows: In addition to work required under the original Agreement and any prior Amendments, the Consultant or Vendor shall: No change to the scope of work, however an amendment is needed to extend the time of completion to June 30, 2023, due to the order not being ready in time. 2. The contract amount and time for performance provisions of Section II “Time of Completion,” and Section III, “Compensation,” are modified as follows: Original Contract Sum, including applicable WSST $40,051.67 Net Change by Previous Amendments including applicable WSST $0 Current Contract Amount including all previous amendments $40,051.67 Current Amendment Sum $0 Applicable WSST Tax on this Amendment $0 Revised Contract Sum $40,051.67 AMENDMENT - 2 OF 2 Original Time for Completion (insert date) 3/1/2023 Revised Time for Completion under prior Amendments (insert date) N/A Add’l Days Required (±) for this Amendment 121 calendar days Revised Time for Completion (insert date) 6/30/2023 The Consultant or Vendor accepts all requirements of this Amendment by signing below, by its signature waives any protest or claim it may have regarding this Amendment, and acknowledges and accepts that this Amendment constitutes full payment and final settlement of all claims of any kind or nature arising from or connected with any work either covered or affected by this Amendment, including, without limitation, claims related to contract time, contract acceleration, onsite or home office overhead, or lost profits. This Amendment, unless otherwise provided, does not relieve the Consultant or Vendor from strict compliance with the guarantee and warranty provisions of the original Agreement. All acts consistent with the authority of the Agreement, previous Amendments (if any), and this Amendment, prior to the effective date of this Amendment, are hereby ratified and affirmed, and the terms of the Agreement, previous Amendments (if any), and this Amendment shall be deemed to have applied. The parties whose names appear below swear under penalty of perjury that they are authorized to enter into this Amendment, which is binding on the parties of this contract. IN WITNESS, the parties below have executed this Amendment, which will become effective on the last date written below. CONSULTANT/VENDOR: By: (signature) Print Name: Its (title) DATE: CITY OF KENT: By: (signature) Print Name: Chad Bieren, P.E. Its Public Works Director (title) DATE: ATTEST: ___________________________ Kent City Clerk APPROVED AS TO FORM: (applicable if Mayor’s signature required) Kent Law Department Ben Alexander President 3/1/2023 (signa t Name:Ben Alexande Chad Bieren Chad Bieren 2023.03.01 13:24:29-08'00' 02/03/2023 Nicholson & Associates Ins LLC 1802 Black Lake Blvd SW #301 Olympia, WA 98512 Nikki Kaur (360)352-8444 (360)943-9712 certificates@nichinsure.com 00003319-2004786 10 Sound Native Plants, Inc PO Box 7505 Olympia, WA 98507 Ohio Security Insurance 24082 A Y BKS57836248 06/22/2022 06/22/2023X X X 1,000,000 1,000,000 15,000 1,000,000 2,000,000 2,000,000 Allstate B Y 648856319 06/22/2022 06/22/2023 X 2,000,000 Ohio Casualty Insurance 24074 C USO57836248 06/22/2022 06/22/2023XX X 10,000 3,000,000 3,000,000 Ohio Security Insurance 24082 A BKS57836248 06/22/2022 06/22/2023 X Stop Gap 1,000,000 1,000,000 1,000,000 Ohio Security Insurance 24082 A Y BKS57836248 06/22/2022 06/22/2023Pollution Liability Per Occurrence $1,000,000 D Certificate Holder is included as Additional Insured as their interest may appear when required by written contract per the attached endorsement. City of Kent 220 4th Ave S Kent, WA 98032 (NN1) Printed by NN1 on 02/03/2023 at 11:04AM ANY PROPRIETOR/PARTNER/EXECUTIVE OFFICER/MEMBER EXCLUDED? INSR ADDL SUBR LTR INSD WVD DATE (MM/DD/YYYY) PRODUCER CONTACTNAME: FAXPHONE(A/C, No):(A/C, No, Ext): E-MAILADDRESS: INSURER A : INSURED INSURER B : INSURER C : INSURER D : INSURER E : INSURER F : POLICY NUMBER POLICY EFF POLICY EXPTYPE OF INSURANCE LIMITS(MM/DD/YYYY) (MM/DD/YYYY) AUTOMOBILE LIABILITY UMBRELLA LIAB EXCESS LIAB WORKERS COMPENSATION AND EMPLOYERS' LIABILITY DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) AUTHORIZED REPRESENTATIVE EACH OCCURRENCE $ DAMAGE TO RENTEDCLAIMS-MADE OCCUR $PREMISES (Ea occurrence) MED EXP (Any one person) $ PERSONAL & ADV INJURY $ GEN'L AGGREGATE LIMIT APPLIES PER:GENERAL AGGREGATE $ PRO-POLICY LOC PRODUCTS - COMP/OP AGG $JECT OTHER:$ COMBINED SINGLE LIMIT $(Ea accident) ANY AUTO BODILY INJURY (Per person) $ OWNED SCHEDULED BODILY INJURY (Per accident) $AUTOS ONLY AUTOS HIRED NON-OWNED PROPERTY DAMAGE $AUTOS ONLY AUTOS ONLY (Per accident) $ OCCUR EACH OCCURRENCE $ CLAIMS-MADE AGGREGATE $ DED RETENTION $ $ PER OTH-STATUTE ER E.L. EACH ACCIDENT $ E.L. DISEASE - EA EMPLOYEE $ If yes, describe under E.L. DISEASE - POLICY LIMIT $DESCRIPTION OF OPERATIONS below INSURER(S) AFFORDING COVERAGE NAIC # COMMERCIAL GENERAL LIABILITY Y / N N / A (Mandatory in NH) SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: CERTIFICATE HOLDER CANCELLATION © 1988-2015 ACORD CORPORATION. All rights reserved. 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