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DocuSign Envelope ID:7FFCOE71-7C9F-498C-9A8A-D9969FBC8D7D <br /> city of <br /> f1 I <br /> Fps`CoRi n 1S Official Purchasing Document 7 r <br /> Last updated 1012017 l <br /> 5.1 PROGRESS PAYMENTS. OWNER shall make progress payments on <br /> account of the Contract Price on the basis of CONTRACTOR's Application <br /> for Payment as recommended by ENGINEER, once each month during <br /> construction as provided below. All progress payments will be on the basis <br /> of the progress of the Work measured by the schedule of values <br /> established in paragraph 2.6 of the General Conditions and in the case of <br /> Unit Price Work based on the number of units completed, and in <br /> accordance with the General Requirements concerning Unit Price Work. <br /> 5.1.1 Prior to Substantial Completion, Owner will be entitled to withhold as <br /> contract retainage five percent (5%) of each progress payment, but, in each <br /> case, less the aggregate of payments previously made and less such <br /> amounts as ENGINEER shall determine, or OWNER may withhold, in <br /> accordance with paragraph 14.7 of the General Conditions. If , in the sole <br /> discretion of Owner, on recommendation of Engineer, Owner determines <br /> that the character and progress of the Work have been satisfactory to <br /> OWNER and ENGINEER, OWNER may determine that as long as the <br /> character and progress of the Work remain satisfactory to them, there will <br /> be no additional retainage on account of Work completed in which case the <br /> remaining progress payments prior to Substantial Completion will be in an <br /> amount equal to 100% of the Work completed. 95% of materials and <br /> equipment not incorporated in the Work (but delivered, suitably stored and <br /> accompanied by documentation satisfactory to OWNER as provided in <br /> paragraph 14.2 of the General Conditions) may be included in the <br /> application Section 00960. <br /> 5.1.2 Upon Substantial Completion payment will be made in an amount sufficient, <br /> if necessary, to increase total payments to CONTRACTOR to 95% of the <br /> Contract Price, less such amounts as ENGINEER shall determine or <br /> OWNER may withhold in accordance with paragraph 14.7 of the General <br /> Conditions or as provided by law. <br /> 5.2 FINAL PAYMENT. Upon Final Completion and Acceptance of the Work in <br /> accordance with paragraph 14.13 of the General Conditions, OWNER shall <br /> pay the remainder of the Contract Price as recommended by ENGINEER <br /> as provided in said paragraph 14.13. <br /> 6. CONTRACTOR'S REPRESENTATION. In order to induce OWNER to enter into this <br /> Agreement, CONTRACTOR makes the following representations: <br /> 6.1 CONTRACTOR has familiarized himself with the nature and extent of the <br /> Contract Documents, Work, site, locality, and with all local conditions and <br /> Laws and Regulations that in any manner may affect cost, progress, <br /> performance or furnishing of the Work. <br /> 6.2 CONTRACTOR has studied carefully all reports of explorations and tests of <br /> subsurface conditions and drawings of physical conditions which are <br /> identified in the Supplementary Conditions as provided in paragraph 4.2 of <br /> the General Conditions. <br /> 6.3 CONTRACTOR has obtained and carefully studied (or assumes <br /> responsibility for obtaining and carefully studying) all such examinations, <br /> investigations, explorations, tests, reports, and studies (in addition to or to <br /> Services Agreement—Work Order Type <br /> RFP 9227 CM/GC Services for Lemay Ave Realignment over the BNSF Railroad Tracks and Vine Dr Page 13 of 123 <br />