Reso 2009-1495 - Laserfiche WebLink

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e) add the Contractor's Fee, less the ten percent (10%) Retainage. The Contractor's Fee shall be computed upon the Cost of the Work described in the preceding clauses at the rate in accordance with Paragraph 11.01.C or, if the Contractor's Fee is stated as a fixed sum, then it shall be an amount that bears the same ratio to that fixed-sum fee as the Cost of the Work in the two preceding clauses bears to a reasonable estimate of the probable Cost of Work upon completion. subtract the aggregate of the previous payments made by the Owner; subtract the shortfall, if any, indicated by the Contractor in the supporting records and other evidence as mutually agreed between the Owner or Engineer and Contractor to demonstrate expenditures incurred to substantiate prior Applications for Payment, or resulting from errors subsequently discovered by Owner, or designee; 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." c) d) f) In Paragraph 14.02.8., 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 payor 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 09/09 00800-9 03-4122.F