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<br />February 22, 1993 <br />30. ~ ACCEPTANCE AND FINAL PAYMENT J <br />,`Within ten days after the CONTRACTOR'S declazation of completion of the work, the, <br />OWNER will make a final inspection of the work to determine whether the WORK has ~ <br />been completed in accordance with the purchase order contract and collateral documents. ~ ~ <br />\.If any punch-list results from such final inspection, the CONTRACTOR shall promptly <br />rectify all items appearing thereon. <br />When the OWNER indicates acceptance of the work, the CONTRACTOR may requisition <br />final payment, including retainage, on account of the purchase order contract price. <br />Before such final payment may be made the OWNER must comply with Title 38-26-107 <br />C.R.S. as amended, which requires that publication of a notice of final settlement with the <br />CONTRACTOR be made twice in a newspaper of general circulation in the county wherein <br />the purchase order contract was made (usually Denver County) and the county wherein the <br />work was performed. The date fixed in such notice, before which final payment to the <br />CONTRACTOR may not be made, must be no less than ten days after the second <br />publication of the notice. <br />Any unpaid creditor of the CONTRACTOR who supplied labor and/or material for the <br />work has those ten days in which to file with the OWNER a verified statement of the <br />amount due and unpaid. 'The OWNER must withhold from payment to the <br />CONTRACTOR the total amount of such claim for a period of ninety days after the date <br />in the notice fixed for settlement, but the OWNER may not directly make payment to the <br />creditor(s). If within those ninety days a creditor does not reach settlement with the <br />CONTRACTOR, he must serve on the OWNER a notice of "lis pendens" that he has <br />brought action at law, otherwise the OWNER, at expiration of ninety days, will pay the <br />CONTRACTOR for the amount withheld. <br />31. GUARANTY AND WARRANTIES <br />The CONTRACTOR shall furnish the OWNER with a written guaranty for one year <br />covering all labor, materials and workmanship incorporated in the work. ~ The <br />CONTRACTOR, in instances of work performed or material dr equipment furmshed for <br />which warranties are required by the specifications, shall procure such warranties and deliver <br />them to the OWNER on completion of the work. Such warranties will no way lessen the <br />CONTRACT'OR'S responsibilities under the purchase order documents. Whenever <br />warranties or guarantees are required by the specifications for a period longer than one <br />yeaz, such longer period shall govern. 'Written guazanties must be received by the OWNER <br />before final payment will be approved. <br />32. LIENS <br />No Mechanic's Lien against apublicly-owned building in the State of Colorado. However, <br />as outlined in 30. ACCEPTANCE AND FINAL PAYMENT, unsatisfied creditors of the <br />CONTRACTOR, for labor and/or materials, of such a building are by law provided certain <br />security. <br />12 <br />