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ARTICLE 3, EXCUSABLE DELAY The Time for Completion may be extended by reason of an Excusable Delay. An Excusable Delay is delay caused by circumstances (i) beyond the control of Contractor, its Sub- Contractors, suppliers and vendors and (ii) not caused by the negligence of Contractor, its Sub- Contractors, suppliers and vendors. Where Contractor claims that it is entitled to an extension because of an excusable delay, it shall furnish to the Project Manager all documentation supporting its claim, including, details of the claim, a description of the work affected and the actual costs resulting from the delay. Failure of Contractor to comply with this Article as to any particular event of delay shall be deemed conclusively to constitute a waiver, abandonment or relinquishment of any and all claims resulting from that particular event of delay. ARTICLE 4, NO DAMAGE FOR DELAY In the event construction of the Project is delayed through no fault of Contractor or Owner, it is agreed that Contractor's sole and exclusive remedy is a time extension of the Time for Completion equal to each day the Work is so delayed. The City shall not be liable for any delay damages or damages in any way attributable to performing work out of sequence, acceleration claims, or other similar type claims, incurred by Contractor or any of its Sub-contractors, arising out of or in any way associated with the performance of this Contract. In the event Contractor is delayed in performance of the Work by act or omission of Owner, or Owner's Agents, employees, consultants or Separate Contractor's, Contractor shall be entitled to an equitable adjustment of the Time for Completion and Contractor's expenses associated with the delay. ARTICLE 5, CONTRACT AMOUNT. PROGESS PAYMENTS AND FINAL PAYMENT 5,1 The City shall pay to the Contractor, for the faithful performance of this Contract, the Contract Amount in accordance with the provisions of Article 2 of this Agreement. Payment shall be made pursuant to approved applications for payment approved by the City. Payment shall be made within thirty (30) days after the City's receipt of Contractor's Application for Payment, approved by the City, and accompanied by sufficient supporting documentation, and containing sufficient detail, to allow a proper audit of expenditures, should the City require one to be performed. 5,2 Contractor may make Application for Payment for Construction Work completed during the Project at intervals of not more than once a month. Contractor's Application for Payment shall include partial release(s) of liens or consent of Surety relative to the portion of the Work, which is the subject of the Application for Payment and any other information required by the City. Each Application for Payment shall be submitted in triplicate to the City for approval. 5,3 Ten percent (10%) of all monies earned by Contractor shall be retained by the City until Final Completion, receipt of closeout documents, and acceptance by the City except that after fifty percent (50%) of the Work has been completed, the Contractor may request a reduction in the retainage to five percent (5%) of all monies previously earned and all monies 27