Adopt Resolution #24-268 Approving Final Payment to Corrective Asphalt Materials, LLC. for Improvement Project #24-09, 2024 Pavement Rejuvenation Improvements.

Resolution and Pay Request Attached.

The final construction cost for this project was 4.5-percent higher than the contract amount due to an error in the engineer's estimate. Sufficient funds are available to pay the final construction cost. 

Issuing final payment will be contingent on receipt of the following items from Corrective Asphalt Materials, LLC.:

1. IC-134 (Contractor's Withholding Affidavit showing compliance with the provisions of Minnesota Statute 290.92 requiring withholding state income tax).
2. Waiver of Mechanic's Lien Rights (Affidavit that all claims against Corrective Asphalt Materials, LLC. by reasons of the contract have been fully paid or satisfactorily secured).
3. Consent of Surety to Final Payment (Certification from the contractor's surety).

Following receipt of these items, final payment will be issued.

The Senior Engineering Technician has inspected the completed work and recommends final payment to Corrective Asphalt Materials, LLC. for improvement project #24-09, 2024 Pavement Rejuvenation Improvements in the amount of $250,525.44.

Motion to adopt Resolution #24-268 approving final payment to Corrective Asphalt Materials, LLC. for improvement project #24-09, 2024 Pavement Rejuvenation Improvements in the amount of $250,525.44.