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Subcontract—December 2, 2015 <br /> IHC and Ames Construction, Inc. <br /> Page 7 of 11 <br /> 10. All materials paid for shall belong to the Contractor but may remain in the care, custody and control of the <br /> Subcontractor and stored at Subcontractor's risk. Subcontractor shall furnish guarantees and all other <br /> documents required by the Contract for the Subcontractor's work, including waivers of lien from suppliers of <br /> all materials utilized in performing the work covered by this Subcontract as a condition precedent for <br /> receiving partial progress payments under this Subcontract. <br /> As a condition precedent to receiving final payment for work performed under this Subcontract Agreement, <br /> Subcontractor shall provide any and all documents required by the Contract. Subcontractor also agrees, that <br /> within 30 days of final completion of all Subcontract work performed, to provide accounting (in sufficient <br /> detail as required by the Contract or as necessary to adequately document the work and in a form acceptable <br /> to the Contractor) for all work performed under this Subcontract Agreement. Subcontractor shall provide an <br /> affidavit (in acceptable form to the Contractor) accepting such final work summary as full and final <br /> accounting for compensation for all work performed in accordance with the terms of compensation as defined <br /> in Schedule A. Failure to provide the aforementioned accounting of work performed, with the corresponding <br /> affidavit, prior to final progress estimate preparation by Contractor, shall be deemed a waiver of the <br /> Subcontractor's right to subsequently claim for work not paid for by the Owner or the Contractor. Also as a <br /> condition precedent to final payment under this Subcontract, Subcontractor agrees to provide appropriate <br /> waivers of lien for itself, as well as all lower-tier subcontractors and materialmen who have incorporated <br /> labor,materials, supplies or services into the work performed under this Subcontract. <br /> 11. Time is of the essence. The Subcontractor agrees to undertake the performance of work required under this <br /> Subcontract within five (5)days after being notified to commence work by the Contractor. The Subcontractor <br /> shall proceed with the work including overtime performance as necessary and as required by the schedule of <br /> progress which may be subject to change as working conditions require to keep the work sufficiently in <br /> advance of other project activities. Subcontractor shall at all times cooperate with the Contractor and others <br /> engaged in work on the project and shall coordinate its work with that of all others so as to facilitate the <br /> efficient and timely completion of the Contract. It is understood that the Contractor, in order to coordinate <br /> project activities,must maintain updated progress schedules. Accordingly, the Subcontractor shall provide an <br /> updated progress schedule and any information deemed necessary by the Contractor to support the <br /> Subcontractor's progress toward the revised schedule for use by the Contractor to coordinate the work <br /> contracted with the Owner. If at any time the Contractor shall have reasonable doubt that the Subcontractor <br /> does not have the ability to perform or complete the work in the time and manner required hereunder because <br /> of insufficient and/or inadequate management, manpower, equipment or materials, the Subcontractor shall <br /> within three (3) days of a written demand by the Contractor furnish the Contractor adequate assurance of its <br /> ability, in appropriate detail satisfactory to the Contractor, to perform to the level required by this Subcontract <br /> Agreement. <br /> Contractor may withhold payments which may be due if the Subcontractor's progress is not in accordance <br /> with the schedule which both parties agree shall be modified by the Contractor in order to meet the progress <br /> schedule as required by the Contractor. The Subcontractor shall provide a current status of work items <br /> completed to date or as of a given progress estimate cutoff date. Subcontractor shall be liable for all losses <br /> and damages incurred by the Contractor includi*,--c�sequential-4amages due to inexcusable delay of the <br /> Subcontractor in the performance of the work. <br /> In the event of any breach of this Subcontract by the Subcontractor or in the event that any party asserts a <br /> claim or lien against the Contractor or Contractor's surety which arises out of the Subcontractor's <br /> performance of this Subcontract, the Contractor shall have the right to retain out of any amount due or <br /> becoming due to the Subcontractor an amount sufficient to completely protect the Contractor from any and all <br /> loss,damage or expense,until the situation has been resolved to the satisfaction of the Contractor. <br />