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. e the application date fIXed above, payment shall be made by the Owner not later than days after the Architect receives the Application for Payment. 5.1.4 Each Application for Payment shall be based on the most recent schedule of values submitted by the Contractor in accordance with the Contract Documents. The schedule of values shall allocate the entire Contract Sum among the various portions of the Work. The schedule of values shall be prepared in such form and supported by such data to substantiate its accuracy as the Architect may require. This schedule, unless objected to by the Architect, shall be used as a basis for reviewing the Contractor's Applications for Payment. . . . . .. THIS DOCUMENT HAS IMPORTANT LEGAL 5.1.5 Applications for Payment shall mdicate the percentage of completIon of each portIOn CONSEOUENCES. CONSULTATION WITH of the Work as of the end of the period covered by the Application for Payment. AN ATTORNEY IS ENCOURAGED WITH RESPECT TO ITS COMPLETION OR 5.1.6 Subject to other provisions of the Contract Documents, the amount of each progress MODIFICATION. AUTHENTICATION OF payment shall be computed as follows: THIS ELECTRONIC ALL Y DRAFTED AlA DOCUMENT MAY BE MADE BY USING AlA .1 Take that portion of the Contract Sum properly allocable to completed Work as DOCUMENT 0401. determined by multiplying the percentage completion of each portion of the Work by AlA Doc t A201 1997 G aI the share of the Contract Sum allocated to that portion of the Work in the schedule of Conditio~'":~ the C~ntra~t f~~er; values, less reta~age of. five percent ( Q %). Pend~g f~al determinatio!1 of cost to Construction, is adopted in this document the ~wn~r of changes m the Work. amounts not m dispute shall be mcluded as by reference. Do not use with other proVided m Subparagraph 7.3.8 of AlA Document A2.01-1m. general conditions unless this document is modified. .2 Add that portion of the Contract Sum properly allocable to materials and equipment delivered and suitably stored at the site for subsequent incorporation in the completed construction (or, if approved in advance by the Owner, suitably stored off the site at a location agreed upon in writing),less retainage of~ percent (~%); .3 Subtract the aggregate of previous payments made by the Owner; and This document has been approved and endorsed by The Associated General Contractors of America. .4 Subtract amounts, if any. for which the Architect has withheld or nullified a Certificate for Payment as provided in Paragraph 9.5 of AIA Document A2.0l-1997. 5.1.7 The progress payment amount determined in accordance with Subparagraph 5.1.6 shall be further modified under the following circumstances: .1 Add, upon Substantial Completion of the Work, a sum sufficient to increase the total payments to the full amount of the Contract Sum, less such amounts as the Architect shall determine for incomplete Work, retainage applicable to such work and unsettled claims; and (Subparagraph ~8.5 of AlA Document A201-1.9.97 requires release of applicable retainage upon Substantial Completion oFWOrK with consent of surety, iF any.) . - .2 Add, if fmal completion of the Work is thereafter materially delayed through no fault .. of the Contractor, any additional amounts payable in accordance with Subparagraph 9.10.3 of AIA Document A2.01-1m. ... ." .... .... .,,-. . - ..... 5.1.8 Reduction or limitation of retainage, if any, shall be as follows: ~ (IFit is intended, prior to Substantial Completion of the mtire Work, to reduce or limit the retainage resulting from the percmtages inserted in Clauses 5.L6.J and 5.1.6.2 above, and this is not explained elsewhere in the Contract Documm/s, insert here provisions for such reduction or limitation.) C1997 AlA. AlA DOCUMENT A 101-1997 OWNER-CONTRACTOR AGREEMENT 5.1.9 Except with the Owner's prior approval, the Contractor shall not make advance The American Institute of Architects payments to suppliers for materials or equipment which have not been delivered and stored at 1735 New York Avenue, N.W. the site. Washington, D.C. 20006-5292 o 1915, 1918, 1925, 1937, 1951, 1958, 1961, 1963, 1967, 1974, 1977, 1987, 0 1997 by The American InstItute ot Architects. Reproduction of the material herein or substantial quotation of its provisions without written permission of the AlA violates the copyright laws of the United States and will subject the violator to legal prosecution. WARNING: Unlicensed photocopying violates US copyright laws and will subject the violator to legal prosecution. This document was electronically produced with permission of the AlA and can be reproduced in accordance with your license without violation until the date of expiration as noted below. User Document: a101 owner-contr.aia -- 2/1512002. AlA License Number 1007489, which expires on 1012/2002. 3