Laserfiche WebLink
indicate in writing the ENGINEER OF RECORD's recommendation of payment <br /> and present the Application to the OWNER for payment. <br /> B. After acceptance of the Work by the OWNER's governing body, the OWNER will <br /> make final payment to the CONTRACTOR of the amount remaining after <br /> deducting all prior payments and all amounts to be kept or retained under the <br /> provisions of the Contract Documents, including the following items: <br /> 1. Liquidated damages, as applicable. <br /> 2. Two times the value of outstanding items of correction Work or punch list <br /> items indicated on the Certificate of Substantial Completion/Notice of <br /> Completion as being yet uncompleted or uncorrected, as applicable. All <br /> such Work shall be completed or corrected to the satisfaction of the <br /> OWNER within the time stated on the Certificate of Substantial <br /> Completion/Notice of Completion, otherwise the CONTRACTOR does <br /> hereby waive any and all claims to all monies withheld by the OWNER to <br /> cover the value of all such uncompleted or uncorrected items. <br /> 14.10 RELEASE OF RETAINAGE AND OTHER DEDUCTIONS <br /> A. After executing the necessary documents to initiate the lien period, and not more <br /> than forty-five (45) days thereafter (based on a 30-day lien filing period and <br /> 15-day processing time), the OWNER will release to the CONTRACTOR the <br /> retainage funds withheld pursuant to the Agreement, less any deductions to <br /> cover pending claims against the OWNER pursuant to Paragraph 14.5B. <br /> B. After filing of the necessary documents to initiate the lien period, the <br /> • CONTRACTOR shall have thirty (30) days to complete any outstanding items of <br /> correction Work remaining to be completed or corrected as listed on a final punch <br /> list made a part of the Certificate of Substantial Completion/Notice of Completion. <br /> Upon expiration of the 45 days, referred to in Paragraph 14.10A, the amounts <br /> withheld pursuant to the provisions of Paragraph 14.9B herein, for all remaining <br /> Work items will be returned to the CONTRACTOR; provided, that said Work has <br /> been completed or corrected to the satisfaction of the OWNER within said thirty <br /> (30) days. Otherwise, the CONTRACTOR does hereby waive any and all claims <br /> for all monies withheld by the OWNER under the Contract to cover two (2) times <br /> the value of such remaining uncompleted or uncorrected items. <br /> 14.11 CONTRACTOR'S CONTINUING OBLIGATION <br /> A. The CONTRACTOR's obligation to perform and complete the Work in <br /> accordance with the Contract Documents shall be absolute. Neither <br /> recommendation of any progress or final payment by the ENGINEER OF <br /> RECORD, nor the issuance of a Certificate of Substantial Completion/Notice of <br /> Completion, nor any payment by the OWNER to the CONTRACTOR under the <br /> Contract Documents, nor any use or occupancy of the Work or any part thereof <br /> by the OWNER, nor any act of acceptance by the OWNER nor any failure to do <br /> so, nor any review of a Shop Drawing or sample submittal, will constitute an <br /> acceptance of Work not in accordance with the Contract Documents or a release <br /> 00700-36/39 Q f b <br /> C <br />