Reso 2026-4003 - Laserfiche WebLink

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material breach of this Contract. The Schedule of Values shall be used only as a basis for the Contractor's Applications for Payment and shall only constitute such basis after it has been acknowledged in writing by the Engineer / Architect and the City. 5.2 Payment Procedure 5.2.1. The City shall pay the Contract Price to the Contractor as provided below. 5.2.2. Progress payments shall be considered based upon the Contractor's Applications for Payment submitted to the Project Manager and upon Certificates for Payment subsequently issued to the City by the Project Manager. The City shall make progress payments to the Contractor on account of the Contract Price subject to the terms and conditions in this Agreement. Each invoice or payment application must be accompanied by all supporting documentation and other information reasonably requested by City, including, but not limited to a Partial Release of Lien or Final Release of Lien as appropriate in the forms set forth in Chapter 713.20, Florida Statutes. Reference herein to Chapter 713, Florida Statutes is for convenience and shall not be construed as a waiver of sovereign immunity or authority for imposition of liens against public property. Each progress payment shall be reduced by five percent (51/o) retainage. Subject to other requirements of the Contract Documents, retainage shall be released after final completion of the Work and City's receipt of acceptable reports and other documentation including certification of payment to subcontractors, if any, and a Final Release of Lien in the form set forth in Section 713.20, Florida Statutes. Contractor is advised that processing of invoices must follow this schedule, as the City has funding requirements and other payment obligations which may prevent payment of late Statement of Services for that month's billing cycle. 5.3 Withheld Pam 5.3.1. The City may decline to make payment, may withhold funds, and, if necessary, may demand the return of some or all of the amounts previously paid to the Contractor, to protect the City from loss because of: (a) defective Work not remedied by the Contractor nor, in the opinion of the City, likely to be remedied by the Contractor; (b) claims of third parties against the City or the City's property, unless the surety provides the City a written consent regarding the payment(s) in question; (c) failure by the Contractor to pay Subcontractors or others in a prompt and proper fashion. The City may ask the surety for a written consent regarding the payment(s) in question. However, notwithstanding the foregoing, and provisions of Section 255.05 (11), Florida Statutes, the parties hereby agree that the City may condition its payment to the Contractor on the production of a release, waiver, or like documentation from a Subcontractor or others demonstrating that the Subcontractor or others do not have an outstanding claim for payments due on labor, services or materials furnished under the MBR CONSTRUCTION, INC. Page 8 of 41 157 327