Laserfiche WebLink
<br />306.4 <br /> <br />306.5 <br /> <br />306.6 <br /> <br />306.7 <br /> <br />his reasons for disapproval in writing. The Contractor may make any <br />necessary corrections and resubmit the Appl ication for Payment within <br />ten (10) days of the Engineer's disapproval. If then approved, the <br />Engineer will forward the Appl ication for Payment to the Owner for <br />payment. If disapproved, the Contractor must wait until the next <br />progress payment becomes due to request payment. <br /> <br />Amount and Time of Payment <br /> <br />The Owner shall pay the Contractor or' state in writing the reasons for <br />refusing to do so witilin Thirty (30) days of receipt of an Appl ication <br />for Payment approved by the Engineer" Payment shan be in the amount <br />recommended by the Engineer, less any retainage agreed to by the Owner <br />and Contractor or required by law. <br /> <br />Retainage <br /> <br />The Owner and Contractor agree that the Owner shall reta in 10 percent <br />(10%) of the amount of each payment until Final Completion of all work <br />covered by the Contract Documents. <br /> <br />Payments Withheld <br /> <br />The Owner may withhold payment to the extent that the Engineer does not <br />approve the Contractor's Application fi)r Payment or, if evidence arises <br />that claims may be or have been filed by other parties against the <br />Contractor which may adversely affect the Owner, or if the Contractor <br />fails to cooperate with, or damages any other contractor or' his Work. <br /> <br />Failure of Payment <br /> <br />If the Owner fails to pay the amount due or object in writing to the <br />Contractor according to the terms of Section 306.3 the Contractor may <br />terminate the Contract upon ten (10) days written notice to the Owner. <br />If payment or written objection is made after thf? Owner's receipt of a <br />notice under this paragraph and before the expiration of ten (10) days <br />after such receipt, the Contractor may not terminate the Contract. <br /> <br />306.8 Final Payment <br /> <br />306.8.1 After all Work has been completed and 311 patent deficiencies or patent <br />defects remedied by the Contractor to the satisfaction of the Engineer, <br />and a Certificate of Final Completion in accordance with Section 307.2 <br />has been issued, the Contractor may make application to the Owner for <br />Final Payment. The Application she,ll include evidence, by way of <br />affidavit or receipts, that all claims f~r payrolls, materials, equipment <br />and other indebtedness incurred by or which have become the responSibility <br />of the Contractor, or other claims aris'ing out of the Project, which <br />have, or may become the responsibil ity of the Owner, have bef?n paid or <br />otherwise satisfied. <br /> <br />GC - 9 <br />