Reso 2024-3718 - Laserfiche WebLink

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EpdvTjho!Fowfmpqf!JE;!2193E418.88DB.5943.:22G.914D7G:28845EpdvTjho!Fowfmpqf!JE;!ED64EEGG.2G1:.5:C6.C4CB.73549671:658 4.3! for Payment, for the value of the work completed shall be retained by SHERIFF until the Project is finally complete and accepted by SHERIFF in accordance with Article 5 below. Notwithstanding the forgoing, after fifty percent (50%) of the work has been completed, the PROJECT MANAGER shall reduce the retainage to five percent (5%) of all monies previously earned and all monies earned thereafter, and after ninety percent (90%) of the work has been completed, the PROJECT MANAGER may reduce the retainage to two and one-half percent (2-1/2%) of all monies previously earned and all monies earned thereafter. Any reduction in retainage below five percent (5%) shall be at the sole discretion of the PROJECT MANAGER and CONTRACTOR shall have no entitlement to a reduction. Any interest earned on retainage shall accrue to the benefit of the SHERIFF. 4.4!Withholding Payment for Unsatisfactory Work. Should any defective or unsatisfactory work or material be discovered prior to the final acceptance, or should a reasonable doubt arise prior to the final acceptance as to the integrity of any part of the completed work, payments for such defective or questioned work shall not be allowed until the defect has been remedied and causes for doubt removed. SHERIFF may withhold, in whole or in part, payment to such extent as may be necessary to protect the agency from loss on account of: 4.4.1!Defective work not remedied. 4.4.2!Claims filed or reasonable evidence indicating probable filing of claims by other parties against CONTRACTOR or SHERIFF. 4.4.3!Failure of CONTRACTOR to make payments properly to Subcontractors or for material(s) or labor. 4.4.4!Damage to another contractor not remedied. 4.4.5!Liquidated damages, as described in section 3.4 of this Agreement, and construction administration. 4.4.6! Agreement. When the above grounds are removed or resolved or CONTRACTOR provides an additional Surety bond or a consent of Surety, satisfactory to SHERIFF, which will protect SHERIFF in the amount withheld, payment will be made in whole or in part. 4.5!Certification of Payments to Others. Before the receipt of any progress payment under the provisions of this Agreement, CONTRACTOR shall certify that it has disbursed to all subcontractors and suppliers having an interest in the Agreement their pro-rata shares of the payment out of the previous progress payments received, for all work completed and materials furnished in the previous period, less any retainage withheld by CONTRACTOR pursuant to an Agreement with a subcontractor as approved by 12