Reso 2010-1522 - Laserfiche WebLink

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- Documents, the Contract Price is deemed to include all sales, use, consumer, and other taxes mandated by applicable Legal Requirements. 6.2 Markups for changes. In the Contract Price requires an adjustment due to change in the Work, and the cost of such changes is determined under Section 9.4.1.3 or Section 9.4.1.4 of the General Conditions of Contract, the following markups shall be allowed on such changes: Design-Builder shall be entitled to an additional payment of 5% indirect overhead costs, plus 10% of all costs, including overhead, as Design- Builder's fee. Article 7: Procedure for Payment 7.1 Progress Payments 7.1.1 Design- Builder shall submit to Owner on the fifth (5th) day. of each month,. beginning with the first month after the Date of Commencement, Design-Builder's Application for Payment in accordance with Article 6 of the G'eneral Conditions of Contract. 7.1.2 Owner shall make payment with thirty (30) days after Owner's receipt of each properly submitted and accurate Application for Payment in accordance with Article 6 of . the General Conditions of Contract, but in each case less the total of payments previously made, and less amounts properly withheld under Section 6.3 of the General Conditions of Contract. 7.2 Retainage on Progress Payment 7.2.1 Owner will retain ten percent (10%) of each Application for Payment provided, however, that, at the Owner's Representative discretion, when fifty percent (50%) of the Work has been completed by Designer-Builder, Owner will not retain additional amounts from Designer-Builder's subsequent Applications for Payment. Owner will also reasonably consider reducing retainage for Subcontractors completing their work early in the Project. 7.2.2 Upon Final Competition of the entire Work or, if applicable, any portion of the Work, pursuant to Section 6.6 of the General Conditions of Contract, Owner shall release to Designer-Builder all retained amounts relating, as applicable, to the entire Work or completed portion of the Work. 7.3 Final Payment. Designer-Builder shall submit its Final Application for Payment to Owner in accordance with Section 6.7 of the General Conditions of Contract. Owner shall make payment on Design-Builder's properly submitted and accurate Final Application for Payment within thirty (30) days after Owner's receipt of the Final Application for Payment, provided that Design-Builder has satisfied the requirements for final payment set forth in Section 6.7.2 of the General Conditions of Contract.