2004-11-08 Regular Meeting, Public Hearing and Workshop Meeting

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J'-~; 9.3.4 The Contractor shall submit requests for payment in quadruplicate, using AIA Document G702, Application and Certificate of Payment, as the cover sheet. Continuation sheets showing in detail the amounts requested, etc., shall be submitted using AIA Document G703, Continuation Sheet, or a computerized version of these documents previously approved for use. The information provided on the continuation sheets in the Description of the Work and Scheduled Values columns shall match the corresponding information shown on the approved Schedule of Values. All blank spaces on AIA Document G702, Application and Certificate of Payment must be completed and the signatures of the Contractor and Notary Public shall be original on each form. By submitting application for payment, the Contractor certifies that the individual signing the application is authorized to do so. 9.6 PROGRESS PAYMENTS Delete Subparagraph 9.6.1 in its entirety and replace it with the following: 9.6.1 After the Architect has issued a Certificate of Payment, with the signatures of the Architect and designated representative of the Owner, the Owner shall make progress payments in accordance with the following subparagraph which shall be inserted as Article 5, Progress Payments, in the Owner-Contractor Agreement, AIA Document A101, 1997 Edition. Based upon the applications for payment and supporting documents submitted to the Architect by the Contractor and Certifications of the amount payable by the Architect, the Owner shall make progress payments on account of the Contract Sum to the Contractor as provided in the Contract Documents for the period ending the last day of the month as follows: .1 No later than twenty-five (25) days following the end of the period covered by the Application for Payment, ninety-five percent (95%) of the portion of the Contract Sum properly allocable to labor, materials and equipment incorporated in the Work and ninety-five percent (95%) ofthe portion ofthe Contract Sum properly allocable to materials and equipment suitably stored at the site for the period covered by the Application for Payment, less the aggregate of previous payments made by the Owner. .2 Upon Substantial Completion of the entire Work, a sum sufficient to increase the total payments to ninety-five percent (95%) ofthe Contract Sum, less such amounts as the Architect shall determine for all incomplete Work and unsettled claims as provided in the Contract Documents. At Subparagraph 9.6.2, Add the following sentence after the first sentence: More specifically, ifonly five percent (5%) retainage is withheld by the Owner on payments to the Contractor, then the Contractor shall withhold only five percent (5%) retainage on 16