Laserfiche WebLink
�_l <br />u <br />n <br />1 <br />bears the same ratio to that fixed -sum fee as the Cost of the <br />Work in the two preceding clauses bears to a reasonable <br />estimate of the probable Cost of Work upon completion. <br />d) subtract the aggregate of the previous payments made by the <br />Owner; <br />e) subtract the shortfall, if any, indicated by the Contractor in the <br />supporting records and other evidence as mutually agreed <br />between the Owner or Engineer and Contractor to demonstrate <br />expenditures incurred to substantiate prior Applications for <br />Payment, or resulting from errors subsequently discovered by <br />Owner, or designee; <br />f) subtract the amounts, if any, for which the Architect has <br />withheld or nullified Certificate for Payment in accordance with <br />the provisions of the Contract Documents." <br />In Paragraph 14.02.B., change the beginning of the sentence:from "Ten days..." to read: <br />"Forty -five days... ... <br />In Paragraph 14.02.C.1, insert the following: <br />2. The Contractor shall promptly pay each subcontractor, upon receipt of <br />payment from the Owner, out of the amount paid to the Contractor on <br />account of such Subcontractor's portion of the Work, the amount to <br />which said Subcontractor is entitled, reflecting percentages actually <br />retained from payments to the Contractor on account of such <br />Subcontractor's portion of the Work. The Contractor shall, by <br />appropriate agreement with each Subcontractor, require each <br />Subcontractor to make payments to Subsubcontractors, if such <br />Subsubcontractors are permitted by the Contract Documents, to make <br />payments to Subsubcontractors in the same manner. <br />3. Neither the Owner nor the Engineer shall have an obligation to pay or see <br />to the payment of money to a Subcontractor, except as provided by law. <br />4. Payment by Contractor to material suppliers shall be treated in the <br />manner as provided in Paragraph 14.02.C.2. <br />5. Except with the Owner's prior approval, payments to Subcontractors <br />shall be subject to Retainage of not less than ten percent (10 %). The <br />Owner and the Contractor shall agree upon a mutually acceptable <br />procedure for review and approval of payments and retention for <br />Subcontractors. <br />6. Upon mutual agreement by Owner and Contractor, payment in full may <br />be made to those Subcontractors whose Work is fully completed during <br />the early stages of the Project. Notwithstanding Paragraphs 14.02.A.8 <br />and 14.02.C.5 above, at such times as the Work as set forth in the <br />schedule of values has been 50% completed, and upon mutual <br />agreement of the Owner and Contractor, no further Retainage shall be <br />withheld from progress payments with respect to such portion of the <br />Work. Agreement as to any such reduction in retained amounts will not <br />SUPPLEMENTARY CONDITIONS 00800 -9 <br />