1995-04-13_GENERAL DOCUMENTS - C1981048

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March 1, 1995 If any punch-list results from the final inspection, the Contractor shall promptly rectify all items on it. Article 50. FINAL INSPECTION AND CERTIFICATE OF COMPLETION The Final Inspection and Certificate of Completion shall establish the completion date of the project Article 51. SETTLEMENT The Principle Representative shall not authorize final payment until all items on the punch list have been completed, the Final Inspection and Certificate of Completion issued, and the Notice of Contractor's Settlement published. Before the Principal Representative may advertise, the Contractor shall deliver the Project Manager all guaranties and warranties, and daily or weekly Job Logs. When the Principle Representative indicates acceptance of the work, the Contractor may requisition final payment, including retainage, on account of the contract price. Before such final payment may be made the Principle Representative must comply with Title 38-26-107 C.R.S. as amended, which requires that publication of a notice of final settlement with the Contractor be made twice in a newspaper of general circulation in the county wherein the purchase order contract was made (usually Denver County) and the county wherein the work was performed. The date fixed in such notice, before which final payment to the Contractor may not be made, must be no less than ten days after the second publication of the notice. Any unpaid creditor of the Contractor who supplied labor and/or material for the work has those ten days in which to file with the Principle Representative a verified statement of the amount due and unpaid. The Principle Representative must withhold from payment to the Contractor the total amount of such claim for a period of ninety days after the date in the notice fixed for settlement, but.the Principle Representative may not directly make payment to the creditor(s). If within those ninety days a creditor does not reach settlement with the Contractor, he must file with the Principle Representative a notice that he has brought action at law, otherwise the Principle Representative, at expiration of ninety days, will pay the Contractor for the amount withheld. Article 52. GUARANTY AND WARRANTIES The Contractor shall furnish the Principle Representative with a written guaranty for one year covering all labor, materials and workmanship incorporated in the work. The Contractor, in instances of work performed or material or equipment furnished for which warranties are required by the specifications, shall procure such warranties and deliver them to the Principle Representative on completion of the work. Such warranties will no way lessen the Contractor's responsibilities under the-purchase order documents. Whenever warranties or guarantees are required by the specifications for a period longer than one year, such longer period shall govern. Written guaranties must be received by the Principle Representative before final payment will be approved. Article 53. ASSIGNMENT The Contractor shall not assign the whole or any part of this Contract as any moneys due or to become due hereunder without the written consent of the Principal Representative. No assignment without said prior approval shall be valid. In case the Contractor assigns all or part of any moneys due or to become due under this Contract, the instrument of assignment shall contain a clause substantially to the effect that it is agreed that the right of the assignee in and to any moneys due or to become due to the Contractor shall be subject to all claims of all persons, firms, and corporations for services rendered or materials supplied for the performance of the work called for in this Contract, whether said service or material were supplied prior to, or after the assignment. Article 54. LIENS There is no right of Mechanic's Lien against publicly-owned property in the State of Colorado. However, as outlined in Article 51 SETTLEMENT, unsatisfied creditors of the Contractor, for labor and/or materials, of such property are by law provided certain alternate remedies. DMG-1$