Valdez Construction 6/12/2023 - Laserfiche WebLink

DocuSign Envelope ID:2A1A1B97-7E12-4D08-A7FA-F9FBEB801815 2. Place no further orders or subcontracts for materials, services, or facilities except as may be necessary for completion of such portion of the work under the Contract that is not terminated; 3. Assign to COMMERCE, in the manner,at the times,and to the extent directed by the Authorized Representative, all of the rights,title, and interest of the Grantee under the orders and subcontracts so terminated, in which case COMMERCE has the right, at its discretion,to settle or pay any or all claims arising out of the termination of such orders and subcontracts; 4. Settle all outstanding liabilities and all claims arising out of such termination of orders and subcontracts,with the approval or ratification of the Authorized Representative to the extent the Authorized Representative may require, which approval or ratification shall be final for all the purposes of this clause; 5. Transfer title to COMMERCE and deliver in the manner,at the times,and to the extent directed by the Authorized Representative any property which,if the Contract had been completed,would have been required to be furnished to COMMERCE; 6. Complete performance of such part of the work as shall not have been terminated by the Authorized Representative; and 7. Take such action as may be necessary, or as the Authorized Representative may direct, for the protection and preservation of the property related to this Contract, which is in the possession of the Grantee and in which COMMERCE has or may acquire an interest. 2.43. TREATMENT OF ASSETS This section is superseded by Program Specific Terms and Conditions#7. Title to all property furnished by COMMERCE shall remain in COMMERCE. Title to all property furnished by tho Grantee, for the cost of which the Grantee is entitled to be reimbursed as a direct item of cost under this Contract, for use of such property in the performance of this Contract, or (ii) commencement of use of such property in the performance of this Contract,or(iii)reimbursement of the cost thereof by COMMERCE in whole or in part,whichever first occurs. A. Ar.y property of COMMERCE furnished to the Grantee shall, unless otherwise provided herein or approved by COMMERCE, be used only for the performance of this Contract. that property in accordance with sound management practices. and shall take all reasonable steps to protect the property from further damage. D. The Grantee shall surrender to COMMERCE all property of COMMERCE prior to settlement upon completion, Alt_FefefaaGe_40_4he__Gfantee_uader_4446.4ause_sha4t_atsrineiude_Gfafitee/s._e404yeesents_ar_subcontraGtef6, 2.44. WAIVER Waiver of any default or breach shall not be deemed to be a waiver of any subsequent default or breach.Any waiver shall not be construed to be a modification of the terms of this Contract unless stated to be such in writing and signed by Authorized Representative of COMMERCE. Contract#«Contract Number» 16 Electrification of Transportation Systems