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<br />all liens upon the WORK or SITE. Further, to the fullest extent provided by law, <br />SUBCONTRACTOR shall require each and every SUBCONTRACTOR to execute a waiver and <br />release of SUBCONTRACTOR'S liens or rights before commencing WORK. CONTRACTOR <br />shall have the right to assign this contract to COMPANY if such action is requested by <br />COMPANY. <br />' GC-11.0 ACCOUNTS AND RECORDS <br />' For any WORK performed on acost-reimbursable basis, SUBCONTRACTOR shall keep full <br />and detailed costs in a form acceptable to CONTRACTOR. CONTRACTOR shall have full <br />access to audit such records. The records shall be retained for a period of 3 years after FINAL <br />ACCEPTANCE. <br />GC-12.0 CONTRACT PAYMENTS <br />CONTRACTOR will make partial payments as the WORK progresses. Payment will be made <br />based upon invoices prepared for WORK performed during the preceding month, all in <br />accordance with Section 2 of the CONTRACT DOCUMENTS, approved by CONTRACTOR, <br />and submitted on or about the 25th day of each calendar month. CONTRACTOR shall have the <br />' right to require reasonable back-up documentation and lien waivers for the full amount of each <br />invoice as it may deem necessary as a condition of payment. Payment for materials delivered <br />to the site but not incorporated into the WORK will be made at 90 percent of the certified <br />vendor invoice cost, less retention, unless otherwise specified. Upon payment, title to such <br />materials shall pass to the COMPANY. Ten percent retainage will be withheld from each p- <br />rogress payment based upon the total-to-date earned amount. To the extent approved, payment <br />will be made by CONTRACTOR within 30 calendar days thereafter, provided that <br />CONTRACTOR has received such payment from COMPANY. <br />CONTRACTOR may withhold payment from SUBCONTRACTOR for any of the following <br />reasons: DEFECTIVE WORK not remedied; backcharges, damage to other contractors, <br />COMPANY or CONTRACTOR; failure to properly make payment to its employees, <br />SUBCONTRACTORS and suppliers; lack of required invoice support; or for any reason <br />permitted by law or equity. When such conditions are remedied, payment will be made for the <br />amounts withheld. <br />SUBCONTRACTOR agrees to accept the FINAL TOTAL CONTRACT PRICE as full compen- <br />sation for all WORK embraced in the CONTRACT including all loss, damage and risk of every <br />' description associated therewith. Furnishing of a fully executed and acceptable Final Release <br />and Waiver of Lien, Exhibit A, shall be a condition to receiving final payment. No payment, <br />except the final payment, shall be evidence of performance of the CONTRACT either wholly <br />' or in part, and no payment, including the final payment, shall be construed to be an acceptance <br />of defective WORK or improper material. The final payment shall not relieve <br />SUBCONTRACTOR from responsibility for the discharge of claims or for malting available to <br />' CONTRACTOR for examination and audit all rewrds pertaining to WORK performed on a cost- <br />reimbursable basis. Final payment shall not relieve SUBCONTRACTOR from any obligation <br />which by its nature continues beyond completion of the WORK, FINAL ACCEPTANCE or final <br />' payment, such as, but not limited to, warranty, indemnity and confidentiality obligations. <br />' 3-5 <br />