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<br />5.1 Proaress Payments. OWNER shall make progress payments <br />on account af the Contract Price on the basis of CONTRACTOR1s <br />Applications for Payment as recommended by the ENGINEER. on or <br />about the last day of each month during construction as <br />provided below. All progress payments will be on the basis of <br />the progress. of the Work measured by the Schedule of Values <br />attached to and made a part of this Agreement (and in the case <br />of Unit Price Wor~. based on the number or units completed). <br /> <br />5.1.1. Prior to Substantial Cornpletioni progress payments <br />will be made in the amount equal to the percentage indicated <br />below. but in each case. less the aggregate of payments <br />previously made and less such amounts as ENGINEER Shall <br />determine. or OWNER may withhold. in accordance with paragraph <br />14.7 of the General Conditions. <br /> <br />- 90% of the. WORK completed, <br /> <br />- 90\ of materials and equipment not incorporated in the <br />Work (but delivered. suitably stored and accompanied by <br />documentation satisfactory to OWNER as provided in. <br />paragraph .14.2 of the General Conditions). <br /> <br />5.1.2. Upon substantial Completion. in an amount <br />sufficient to increase total payments to CONTRACTOR to 95% of <br />the Contract Price. less such amounts as ENGINEER shall <br />determine, a'r OWNER may withhold. in accorQance with paragraph <br />14..7 of the General Conditions_. _ _ __.. _~ .__ "__ <br /> <br />5.2 Final Pavment. Upon Final:. Completion and acceptance- <br />of the Work in accordance with paragraph 14.13 of the General <br />Conditions. OWNER shall pay the: remainder: of the. Contract Price <br />as recommended by ENGINEER as provided in said paragraph 14.13. <br /> <br />Article 6. INTEREST <br /> <br />All monies not paid when due as provided in Article 14 of <br />the General Conditions shall bear int.erest at "t1.e m..c.uL[.~.~ L6.U: (I OJ) <br />"11..... !oj law at ae 1'la.e 00 !t.! F'~v~~vt. twelve.. p.e'f ~.t \.12 (P <br /> <br />'Article 7, CONTRACTOR's REPRESENTATIONS" f>e.'I' ~ "1\"111(, "". ~ ~ <br /> <br />In order to induce OWNER to enter into this Agreement. <br />CONTRACTOR makes the fOllowing representations: <br /> <br />7.1 CONTRACTOR has familiarized itself with the nature and <br />extent of the Contract Documents. the WORK. site. locality. and <br />all local conditions and Laws and Regulations that in any <br />manner may affect cost. progress. performance or furniShing of <br />the WORK. <br /> <br />7.2 CONTRACTOR has made its own evaluation of subsurface <br />conditions along the proposed pipeline alignment and at all <br />other locations within the site of the WorX where such <br />conditions may determine the methods used and the degree of <br />difficulty encountered in the Work. In making its evaluation. <br />CONTRACTOR has. visually inspected the site and has studied <br />carefully all reports of explorations and tests of subsurface <br />conditions which are available. If CONTRACTOR decides to <br />conduct other tests. in its discretion. they shall be at <br />CONTRACTOR1s expense. . <br /> <br />7.3 CONTRACTOR assumes responsibility for its use of any <br />"reports. investigations. explorations. tests or other studies <br />which pertain to subsurface conditions or other physical <br />conditions _at or contiguous to the site in making its._ <br />evaluation of the cost. progress. performance or furnishing of <br />the Work within the terms and conditions of the Contract <br />Documents. The explorations and tests referred to in paragraph <br /> <br />Page ~ of ~ Pages <br />