Paryani Construction Participation Agreement & Renewal #1



 
         



                               CONTRACT AMENDMENT, MODIFICATION, AND EXERCISE OF OPTION
                                                made by and between

                                                       Paryani Real Estate LLC
                                                       961 W Highland Dr NW
                                                         Atlanta, GA 30318
                                                           (“Contractor”)

                                                                and

                                                             Sourcewell
                                                         202 12th Street NE
                                                             PO Box 219
                                                         Staples, MN 56479
                                               Phone: (218) 894-1930 or (888) 894-1930



             Contractor and Sourcewell have entered into an Indefinite Quantity Construction Contract, Contract
             Number: GA-A07-040820-PAR, with an effective date of April 20, 2020, an initial term of one year, and
             three (3) bilateral options to extend the term for an additional term.

             The parties agree that certain terms within Contract Number GA-A07-040820-PAR will be amended and
             modified, and that the option to extend for a one-year term will be exercised.

             IN CONSIDERATION OF the mutual covenants and agreements described in this Amendment,
             Modification, and Exercise of Option, the parties agree as follows:

             AMENDMENT: CORRECTION OF TYPOGRAPHICAL ERROR

             Section 4. A. of Contract Number: GA-A07-040820-PAR included a typographical error at the time of
             execution. The parties agree that Section 4. A. is amended by striking the word “two” in two locations
             (as indicated by red strikeout font), and inserting the word “four” (as indicated by the underlined font),
             to read as follows:

                     This Contract has an initial term of one (1) year and a bilateral option provision for three (3)
                     additional terms. The total term of the Contract cannot exceed two four (4) years. One
                     additional one-year renewal-extension may be offered by Sourcewell to Contractor beyond the
                     original two four-year term if Sourcewell deems such action to be in the best interests of
                     Sourcewell and its Members. The Contractor may withdraw from the Contract on each
                     anniversary of the award, provided that the Contractor gives 60 Days written notice of its intent
                     to withdraw. Sourcewell may, for any reason, terminate this Contract at any time.

             MODIFICATION: FIRST RENEWAL OPTION PERIOD

             Pursuant to the Contract, a new Construction Task Catalog® will be furnished on the anniversary of the
             solicitation and will be in effect for the twelve (12) month period after the anniversary of the award
             date. The following is the Construction Task Catalog® for the next option period:

             April 2021: Sourcewell Georgia, Northern

             Pursuant to the agreement between the parties, the Adjustment Factors shall remain fixed for the
             duration of the contract and are as follows:


 
         




                            #GA-A07-040820-PAR                                    Adjustment Factor

                            Non Pre-priced                                        1.1351

                            Normal Working Hours – Non Secure Areas               1.2216

                            Normal Working Hours – Secure Areas                   1.2432

                            Other Than Normal Working Hours - Non Secure Areas 1.2432

                            Other Than Normal Working Hours - Secure Areas        1.2649


             EXERCISE OF OPTION: EXTENSION

             Contractor and Sourcewell hereby desire and agree to extend and renew the above defined contract,
             with the above identified amendment and modifications, for the period of April 20, 2021 through April
             19, 2022.



             Sourcewell


             By:____________________________________, Its: __________Chief Procurement Officer___________


             Name printed or typed: _____________Jeremy Schwartz____________________________

                   

 
         
    
             Date: ________________________________


             Paryani Real Estate LLC - # GA-A07-040820-PAR


                                                            
             By:____________________________________, Its: _______________________________________________

                                      

             Name printed or typed: ________________________________________________________

                    

 
         
   
             Date: ________________________________




             If you do not want to extend the contract, please sign below and return this agreement.
             Discontinue: We desire to discontinue the contract.


             Signature:___________________________________________ , Date:__________________________