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** Paul made a motion to forward to the Selectmen for approval and <br /> payment Stone ' s payment requisition for $1 , 249 , 836 . Merry Sue <br /> seconded the motion. <br /> Discussion: <br /> Stone ' s original request was for $2 , 078 , 925 . <br /> After this payment, it leaves a balance due of $2 , 591 , 552 . Paul feels that <br /> we still have a high level of balance . <br /> Steve questioned the balance . What is really remaining? <br /> Joel said they have backed out all of the fields work. There may be a <br /> value in the fields that can be salvaged . <br /> Steve wants to know how much work is really remaining. <br /> Paul said the fields are one hundred thousand dollars at the most . <br /> The value of $2 . 6 million greatly exceeds the remedy work. <br /> The only things we will be left with are the fields . The punchlist items <br /> are all minor, they don' t exceed $100 , 000 . <br /> The penalties , dealing with the delays , add up to no more than $700 , 000 . <br /> If Stone were to leave today, that amount is more than adequate to get the <br /> job done . <br /> Peter said what we have is a lack of will to get things done . He is <br /> concerned we will be chasing Stone for years . <br /> Paul said he will talk to town counsel about that . How can we guarantee we <br /> will get punchlist items done at a particular time . We don' t have to let <br /> it drag on for years . We then also have to deal with damages . <br /> Paul said the issue is , if Stone were to walk away from the job today, do <br /> any of the punchlist items effect operation of the building? No . <br /> What is the value of that work that remains is the real question. He has <br /> had lengthy conversations with town counsel on this issue . <br /> Steve is not that comfortable with the remaining balance . For Stone' s next <br /> payment request, he would like to see complete documentation of where we <br /> stand. <br /> Paul suggested he look at the requisition schedule . <br /> Steve wants to see the remaining funds against the punchlist at that time . <br /> Jim said they will have to put a dollar value on the punchlist items . <br /> Steve wants to see hard line figures for items because not everything is <br /> like the fields , where we have taken the value back. The Committee has not <br /> dealt with this in detail until now. <br /> Paul said Tom Wren did give the Committee a detailed budget a few weeks <br /> ago, including any potential back charges and potential fees . <br /> Steve wants to see that refined. <br /> Joel discussed the retainage . Once Stone has reached substantial <br /> completion, and when they complete punchlist items , they can request <br /> payment for those items form the retainage . <br /> Peter said Stone may complete the building but we won' t pay them for the <br /> fields until we have assurance they have grown. <br /> Joel has notified Stone that final acceptance of the fields may not occur <br /> with the building . <br /> Peter asked if the $500 per day fine will continue until the fields are don <br /> e? <br /> 4 <br />