Reso 2008-1273 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I I I 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: A. The Owner may occupy or use any completed or partially completed portion of the Work at any stage when such portion is designated by separate agreement with the Contractor, provided such occupancy or use is consented by the insurer, in accordance with Paragraph 5.06.A.5 and as authorized by public authorities having jurisdiction over the Work. Such partial occupancy or use may commence whether or not the portion is substantially complete, provided Owner and Contractor have accepted in writing the responsibilities assigned to each of them for payments, Retainage, if any, security, maintenance, heat, utilities, damage to Work and insurance, and have agreed in writing concerning the period for correction of Work and commencement of warranties required by the Contract Documents. When the Contractor considers a portion substantially complete, the Contractor shall prepare and submit a comprehensive list to the Engineer of the items to be completed or corrected prior to final payment. The Failure to include an item on such list does not alter the responsibility of the Contractor to complete all Work in accordance with the Contract Documents. Consent of the Contractor to partial occupancy or use shall not be unreasoanbaly withheld. The stage of the progress of the Work shall be determined by written agreement between the Owner and the Contractor, or if no agreement is reached, by decision of the Engineer. B. Immediately or prior to such partial occupancy or use, the Owner, Contractor, and Engineer shall jointly inspect the area to be occupied or the portion of the Work to be used in order to determine and record the condition of the Work. C. Unless otherwise agreed upon, partial occupancy or use of a portion or portions of the Work shall not constitute acceptance of the Work not complying with the Contract Documents." After the least sentence in Paragraph 14.04.B, insert the following: 04/08 Final Version 00800-9