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<br />>'1. Progress Paymen,fs. OWNER shall make progress payments on account of the Contract Price on the basis of CON
<br />TRACTOR's Applications for Payment as recommended by ENGINEE.R, on or about the, ",10th"""", ,day oi each
<br />mon1h during construction as provided below. All progress paymenl~, will be on the basis of the progre'S:i of the Work measurec.
<br />by the schedule of values provided for in paragraph 14.1 of the Genl~ral Conditions.
<br />
<br />5.1.1. Prior to Substantial Completion progress payment:; will be in an amount equal to:
<br />
<br />90
<br />
<br />070 of the Work completed, and
<br />
<br />. . . . . . . 9.0. . % of materials and equipment not incorporated in the Work but delivered and suitably s,ored,
<br />I('ss in each case the ag:sregale of payments previol1sly made.
<br />
<br />5.1.2. Upon Substantial Completion, OWNER shall pay an amount sufficient to increase total payments to CON-
<br />1 RACTOR to . .. . .. .~15. .. . . % of the Contract price, Jess such amounts as ENGINEER shall determine in accordance
<br />~ith paragraph 14.7 of the General Conditions.
<br />
<br />5.2, Final Payment. Upon final completion and acceptance of the Work in accordance with paragraph 14.13 of the
<br />GenelaJ Conditions, OWNER shall pay the remainder of the Contracl Price as recommended by ENGINEER as provided in
<br />said j:aragraph 14.13.
<br />
<br />Article 6, INTEREST,
<br />
<br />All moneys not paid when due hereunder shall bear intaest at the maximum rate allowed by law at the place of the Project.
<br />
<br />Article 7, CONTRACTOR'S REPRESENTATIONS,
<br />
<br />In orc:er to induce OWNER to enter into this Agreement CONTRACTOR makes the following representations:
<br />
<br />7.1. CONTRACTOR has familiarized himself with the nature and extent of the Contract Documents, Work, locality, and
<br />with all local conditions and federal, state and local laws, ordinancl~s, rules and regulations that in a:ny manner may affect
<br />cost, progress or performance of the Work,
<br />
<br />72. CONTRACTOR has studied carefully all reports of investgations and tests of subsurface anc. latent physical condi-
<br />tions ..t the site or otherwise ,affecting cost, progress or performance of ':hc: Work which were relied upon by ENGINEER in the
<br />preparation of the Drawing~i and Specifications and which have been idl~ntified in the Supplementary Conditions.
<br />
<br />7 3. CONTRACTOR has made or caused to be made examinations, investigations and tests and studies of such reports
<br />and related dara in addition 1,0 those referred to in paragraph 7,2 as h~~ ch:ems necessary for the perforn',ancc~ of the Work anhe
<br />Contnct Price. within the Contract Time and in accord~l.nce with thl~ ether terms and conditions of the Contract Documents;
<br />and n,) additional examinations. investigations, tests, reports or similar data are or .,.vill be required by CONTRACTOR for
<br />such r1urposes.
<br />
<br />74. CONTRACTOR has correlated the results of all such observations, examinations, investigations, tests, reports and
<br />data with the terms and conditions of the Contract Documents.
<br />
<br />7.5. CONTRACTOR has given ENGINEER written notic:e of all connicts, errors or discrepanc:ies that he has discovered
<br />in the Contract Documents :Jnd the written resolution thereof by ENGil'iEER is acceptable to CONTRACTOR.
<br />
<br />7,6, Not Used.
<br />
<br />Articlo' 8, CONTRACT DOCUMENTS,
<br />
<br />The Contract Documents which comprise the entire agreement betwe(~n OWNER and CONTRACTOR are attached to this
<br />Agreement, made a part hereof and consists of the following:
<br />
<br />8.1. This Agreement (pages I to , . , ., inclusive).
<br />
<br />8.2. Exhibits to this Agreement (pages. .., to ...., incbsive),
<br />
<br />8.3. Performance and mher Bonds, identified as exhibits
<br />
<br />and consistin~: of .
<br />
<br />pa~es.
<br />
<br />8.4, Notice of Award.
<br />
<br />8.5. General Conditions (pages
<br />
<br />to ...., inclusive).
<br />
<br />8.6. Supplementary Conditions (pages
<br />
<br />to .. . ., inclusive).
<br />
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