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application Partial Releases of Liens for all Notice to Owners that have been received for the project by the Owner and Engineer". 5. With each Application for Payment. the Contractor shall submit supportino records and other evidence. in a form and amount acceptable to the City and the EnQineer. to demonstrate the expenses incurred and the Work performed. This shall include. but not be limited to documentation related to the purchase of Owner-Provided Material and the reduction in the Contract Sum as a result of such expenditures. 6. Each application for Payment shall be based on the most recent schedule of values submitted bv Contractor in accordance with the Contract Documents, The schedule of values shall allocate the entire Quaranteed maximum Contract Price amono the various portions of the Work. except that the Contractor's Fee shall be shown as a separate item. The schedule of values shall be prepared in such form and supported bv such data to substantiate its accuracy as the Enoineer may require. This schedule. unless objected to bv the Enoineer. shall be used as a basis for reviewino the Contractor's Applications for Payment. 7. Applications for payment shall show the percentaoe of completion of each portion of the Work as of the end of the period covered bv the Application for Payment. The percentaoe of completion shall be the lesser of: (1) the percentaoe of that portion of the Work which has actuallv been completed: or (2) the percentaoe obtained bv dividino (a) the expense that has actuallv been incurred bv the Contractor on account of that portion of the Work for which the Contractor has made or intends to make actual payment prior to the next Application for Payment bv (b) the share of the Contract Price allocated to that portion of the Work in the schedule of values. 8. Subiect to the provisions of the Contract Documents. the amount of prooress payments shall be computed as follows: a) take that portion of the Contract Price properlv allocable to the computed Work as determined bv multiplvino the percentaoe of completion of each portion of the Work in the schedule of values. PendinQ final determination of the costs to the Owner of chanoes in the Work. amounts not in dispute shall be included in the Application for Payment alono with ChanQe Order. Work Chanoe Directive or Written Amendment indicatinQ the parties' aoreement with all or part of such costs for additional Work. b) add the portion of the Contract Price properlv allocable to materials and equipment delivered and suitablv stored at the site for subsequent incorporation in the Work. or. if approved in advance bv Owner. suitablv stored off-site at a location aQreed upon in writino. c) add the Contractor's Fee. less the ten percent (10%) Retainaoe. The Contractor's Fee shall be computed upon the Cost of the Work described in the precedino clauses at the rate in accordance with Paraoraph 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 precedino clauses bears to a reasonable estimate of the probable Cost of Work upon completion. Final Version 00800-8