Reso 2016-2515 - Laserfiche WebLink

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release or receipt in full, CONTRACTOR may furnish a bond satisfactory to CITY to indemnify CITY against any lien. CONTRACTOR shall submit to CITY within forty-five days (45) of the date of issuance of the certificate of occupancy for the applicable portion of the Work the completed set of "As-Built"drawings relative to the parking garage and park for review and approval. The "As-Built" drawings shall be prepared, sealed and certified by the appropriate professional licensed by the State of Florida. Prior to approval, if necessary, the drawings may be returned to CONTRACTOR for changes or modifications if in the opinion of City Manager they do not represent correct or accurate "As-built" drawings. 15.4 Final Payment and Acceptance. 15.4.1 If the Work is not acceptable to the CITY, then the CITY shall indicate the reasons for refusing to make final payment, in which case CONTRACTOR shall make the necessary corrections or compliance and resubmit the Application for payment. If the CITY is satisfied that the Work has been completed in accordance with the Contract Documents and the CONTRACTOR'S other obligations under the Contract Documents have been fulfilled,the CITY will agree to make the final payment. 15.4.2 If, through no fault of CONTRACTOR, final completion of the Work is significantly delayed, CITY may consider making payment of the balance due for that portion of the Work fully completed and accepted. If the remaining balance to be held by CITY for Work not fully completed or corrected is less than the retainage stipulated in the Agreement,and if bonds have been furnished as required,the written consent of the surety to the payment of the balance due for that portion of the Work fully completed and accepted may be submitted by CONTRACTOR for such payment. The CITY may consider making such payment under the terms and conditions governing final payment, except that it shall not constitute a waiver of claims. 15.5 Final payment, constituting the entire unpaid balance of the Guaranteed Maximum Price, shall be paid by the CITY to the CONTRACTOR when the Work has been completed in accordance with the Contract Documents, and this Agreement fully performed. The making of final payment shall constitute a waiver of claims by CITY except those arising from: 15.5.1 Liens, claims, security interests or encumbrances arising out of this Agreement and unsettled. 15.5.2 Faulty or defective work and latent defects discovered after acceptance. 15.5.3 Failure of the work to comply with the requirements of the Contract Documents. 15.5.4 Terms of special warranties required by the Contract Documents. 15.5.5 Any of CONTRACTOR'S continuing obligations under this Agreement. 30