2002-02-25 Regular Meeting and Workshop Meeting

Browse Search

e e 5.2 FINAL PAYMENT 5.2.1 Final payment, constituting the entire unpaid balance of the Contract Sum, shall be made by the Owner to the Contractor when: .1 the Contractor has fully performed the Contract except for the Contractor's responsibility to correct Work as provided in Subparagraph U.2.2 of AIA Document A201-1997, and to satisfy other requirements, if any, which extend beyond final payment; and .2 a fmal Certificate for Payment has been issued by the Architect. THIS DOCUMENT HAS IMPORTANT LEGAL CONSEOUENCES. CONSULTATION WITH 5.2.2 The Owner's final payment to the Contractor shall be made no later than 30 days after AN ATTORNEY IS ENCOURAGED WITH the issuance of the Architect's fmal Certificate for Payment or as follows: RESPECT TO ITS COMPLETION OR , MODIFICA TION. AUTHENTICATION OF THIS ELECTRON/CALLY DRAFTED AlA DOCUMENT MAYBE MADE BY USING AlA DOCUMENT 0407. ARTICLE 6 TERMINATION OR SUSPENSION' 6.1 The Contract may be terminated by the Owner or the Contractor as provided in Article 14 of AlA Document A20l-1997. 6.2 The Work may be suspended by the Owner as provided in Article 14 of AlA Document A20l-1997. ARTICLE 7 MISCELLANEOUS PROVISIONS 7.1 Where reference is made in this Agreement to a provision of AlA Document A20l-1997 or another Contract Document, the reference refers to that provision as amended or supplemented by other provisions of the Contract Documents. 7.2 Payments due and unpaid under the Contract shall bear interest from the date payment is due at the rate stated below, or in the absence thereof, at the legal rate prevailing from time to time at the place where the Project is located. (Insert rate of interest agreed upon, if any.) Usury laws and requirements under the Federal Truth in Lending Act, similar state and local consumer credit laws and other regulations at the Owners and Contractors prindpal places of business, the location of the Project and elsewhere may affect the validity of this provision. Legal advice should be obtained with respect to deletions or modifications, and also regarding requirements such as written disdosures or waivers.) 7.3 The Owner's representative is: (Name, address and other infonnation) Douglas Kneupper. PE Planning Director 7.4 The Contractor's representative is: (Name, address and other information) Bob Campbell President 7.5 Neither the Owner's nor the Contractor's representative shall be changed without ten days written notice to the other party. 7.6 Other provisions: ARTICLE 8 ENUMERATION OF CONTRACT DOCUMENTS 8.1 The Contract Documents, except for Modifications issued after execution of this Agreement, are enumerated as follows: 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. AlA Document A207-7997, General Conditions of the Contract for Construction, is adopted in this document by reference. Do not use with other general conditions unless this document is modified. This document has been approved and endorsed by The Associated General Contractors of America. - .....-.. ..... ..... -.........- - Cl1997 AIA~ AlA DOCUMENT A 101-1997 OWNER-CONTRACTOR AGREEMENT The American Institute of Architects 1735 New York Avenue, N.W. Washington, D.C. 20006-5292 4