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<br />~ 5.1.6 Subject to other provisions of the Contract Documents, the amount of each progress payment shall be computed as
<br />follows:
<br />.1 Take that portion of the Contract Sum properly allocable to completed Work as determined by multiplying the
<br />percentage completion of each portion of the Work by the share of the Contract Sum allocated to that portion
<br />of the Work in the schedule of values, less retainage of Five percent percent ( 5.00 %).
<br />Pending final determination of cost to the Owner of changes in the Work, amounts not in dispute shall be
<br />included as provided in Section 7.3.8 of AlA Document A20l-1997;
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<br />.2 Add that portion of the Contract Sum properly allocable to materials and equipment delivered and suitably
<br />stored at the site for subsequent incorporation in the completedconsttuction (or, if approved in advance by
<br />the Owner, suitably stored off the site at a location upon in writing), less retainage of
<br />percent ( 5.00 %);
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<br />.3 Subtract the aggregate of previous payments Il1ade by the Owner; and
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<br />.4 Subtract amounts, if any, for which the Architect has withheld or nullified a Certificate for Payment as
<br />provided in Section 9.5 of AlA Document A201-l997.
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<br />~ 5.1.7 The progress payment amount determined in accordance with Section 5.1.6 shall be further modified under the
<br />following circumstances:
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<br />.1 Add, upon Substantial Completion of the Work, a sum sufficient to increase the total payments to the full
<br />amount of the Contract Sum, less such amounts as the Architect shall determine for incomplete Work,
<br />retainage applicable to such work and unsettlegclaims; and
<br />(Section 9.8.5 ojAlA Document A201-1997requires release of applicable retainage upon Substantial
<br />Completion o/Work with consento/suiety, if any.)
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<br />.2 Add, if final completion of the Work is thereafter materially delayed through no fault of the Contractor, any
<br />additional amounts payable in accordance with Section 9.10.3 of AlA DocumentA201-1997.
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<br />~ 5.1.8 Reduction or limitation of retainage, if any, shall be as follows:
<br />(If it is intended, prior to Substantial Completion of the entire Work, to reduce or limit the retainage resulting from the
<br />percentages inserted in Sections 5.1.6.1 and 5.1.6.2 above, and this is not explained elsewhere in the Contract Documents,
<br />insert here provisions for such reduction or limitation.)
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<br />~ 5.1.9 Except with the Owner's prior approval, the Contractor shall not make advance payments to suppliers for materials or
<br />equipment which have not been delivered and stored at the site.
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<br />~ 5.2 FINAL PAYMENT
<br />~ 5.2.1 Final payment, constituting the entire unpaid balance of the Contract Sum, shall be made by the Owner to the
<br />Contractor when:
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<br />.1 the Contractor has fully performed the Contract except for the Contractor's responsibility to. correct Work as
<br />provided in Section 12.2.2 of AlA Document A20 1-1997, and to satisfy other requirenlt,;nts, if any, which
<br />extend beyond finaL payment; and
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<br />.2 a final Certificate for Payment has been issued by the Architect.
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<br />~ 5.2.2 The Owner's final payment to the Contractor shall be made no later than .30 days after the issuance of the Architect's
<br />final Certificate for Payment, or as follows:
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<br />No Later than 30 days after the issuance of the Architects final Certificate of payment
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<br />AlA Document A101™ -1997. Copyright @ 1915, 1918, 1925, 1937, 1951, 1958, 1961, 1963, 1967, 1974, 1977, 1980, 1987, 1991 and 1997 by The
<br />American Institute of Architects. All rights reserved. WARNING: This AIA@ Document is protected by U.S. Copyright Law and International Treaties.
<br />Unauthorized reproduction or distribution of this AIA@ Document, or any portion of it, may result in severe civil and criminal penalties, and will be
<br />prosecuted to the maximum extent possible under the law. Purchasers are permitted to reproduce ten (10) copies of this document when completed. To
<br />report copyright violations of AlA Contract Documents, e-mail The American Institute of Architects' legai counsel, copyright@aia.org.
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