2002-02-25 Regular Meeting and Workshop Meeting

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e 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 indicate 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 ELECTRON/CALL Y DRAFTED AlA DOCUMENT~YBE~DEBYU~NGAlA .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 Do t A201-1997 G I the share of the Contract Sum allocated to that portion of the Work in the schedule of Conditi~U;~~ the Contra~t f~~era values, less retainage of. five percent ( Q %). Pendi~g ~al determinatio~ 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 A20l-1997. 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 five percent (Q%); .3 Subtract the aggregate of previous payments made by the Owner; and .4 Subtract amounts, if any, for which the Architect has withheld or nullified a Certificate for Payment as provided in Paragraph 9.5 of AlA Document A20l-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 9.805 of AlA Document A201-1.9.97 requires release of applicable retainage upon Substantial. Completion of Work with consent of surety, ifany.) .2 Add, if final 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 AlA Document A20l-1997. 5.1.8 Reduction or limitation ofretainage, if any, shall be as follows: (If it is intended, prior to Substantial. Completion of the entire Work, to reduce or limit the retainage resulting fi-om the percentages inserted in Clauses 5.1.6.1 and 5.1.6.2 above, and this is not explained elsewhere in the Contract Documents, insert here provisions for such reduction or limitation.) This document has been approved and endorsed by The Associated General Contractors of America. ~.'!!!!!!!!l " .... I-Ir .... . - ..... I.... ... - C1997 AIAtl AlA DOCUMENT A10l-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 e 1915, 1918, 1925, 1937, 1951, 1958, 1961, 1963, 1967, 1974, 1977, 1987, e 1997 by The Amencan 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: al01 owner-contr.aia -- 2/15/2002. AlA License Number 1007489, which expires on 10/2/2002. 3