Reso 2007-1103 - Laserfiche WebLink

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�1 u is E I l 11�1] 0 1�i�] f) subtract the amounts, if any, for which the Architect has withheld or nullified Certificate for Payment in accordance with the provisions of the Contract Documents." In Paragraph 14.02.B., change the beginning of the sentence: from "Ten days..." to read: "Forty -five days... ... In Paragraph 14.02.C.1, insert the following: 2. The Contractor shall promptly pay each subcontractor, upon receipt of payment from the Owner, out of the amount paid to the Contractor on account of such Subcontractor's portion of the Work, the amount to which said Subcontractor is entitled, reflecting percentages actually retained from payments to the Contractor on account of such Subcontractor's portion of the Work. The Contractor shall, by appropriate agreement with each Subcontractor, require each Subcontractor to make payments to Subsubcontractors, if such Subsubcontractors are permitted by the Contract Documents, to make payments to Subsubcontractors in the same manner. 3. Neither the Owner nor the Engineer shall have an obligation to pay or see to the payment of money to a Subcontractor, except as provided by law. 4. Payment by Contractor to material suppliers shall be treated in the manner as provided in Paragraph 14.02.C.2. 5. Except with the Owner's prior approval, payments to Subcontractors shall be subject to Retainage of not less than ten percent (10 %). The Owner and the Contractor shall agree upon a mutually acceptable procedure for review and approval of payments and retention for Subcontractors. 6. Upon mutual agreement by Owner and Contractor, payment in full may be made to those Subcontractors whose Work is fully completed during the early stages of the Project. Notwithstanding Paragraphs 14.02.A.8 and 14.02.C.5 above, at such times as the Work as set forth in the schedule of values has been 50% completed, and upon mutual agreement of the Owner and Contractor, no further Retainage shall be withheld from progress payments with respect to such portion of the Work. Agreement as to any such reduction in retained amounts will not constitute a waiver of or otherwise prejudice the Owner's right to subsequently reinstate full retainage, as to that subcontractor, should circumstances justify such action in the Owner's sole judgment. 7. Upon Substantial Completion of the entire Work of the Contractor, a sum, sufficient to increase payments to the Contractor to one hundred percent (100 %) of the Contract Sum, less amounts, if any for incomplete Work and unsettled claims, shall be paid to Contractor with the next sequential payment application after Substantial Completion is obtained. Delete Paragraph 14.05 and replace with the following: March 2007 00800 -10 03-4122.D j