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· Construction Schedule Contractor's Schedule of Values · List of material suppliers · Itemized breakdown of anticipated equipment rates. Overhead and profit shall not be included. 7.2 Contract Sum 7.2.1 The City shall compensate Contractor for all Work described herein and in the Contract Documents the Contract Sum set forth in the Contract for Construction, subject to additions and deletions as provided in the Contract. 7.3 Schedule of Values 7.3.1 Within fifteen (15) days after receipt of the Notice to Proceed, the Contractor shall submit to the City's Representative a revised schedule of values allocated to various portions of the Work, prepared in such form and supported by such data to substantiate its accuracy as the City's Representative may require. The schedule of values MUST be approved by the City. This schedule, unless objected to by the City's Representative, shall be used as a basis for reviewing the Contractor's Applications for Payment. The values set forth in such schedule shall not be used in any manner as fixing a basis for additions to or deletions from the Contract Sum. The Schedule of Values is strictly for payment allocation and shall not be used to establish prices. 7.4 Applications for Payment 7.4.1 Progress payments shall be made on account of materials and equipment delivered to the site and incorporated in the Work. No payments will be made for materials and equipment stored at the Project site but not yet incorporated into the Work. 7.4.2 If approved in writing and in advance by City, progress payments may be made on account of materials and equipment delivered and suitably stored at the site for subsequent incorporation in the Work. City may in its sole discretion refuse to grant approval for payments for materials and equipment stored at the Project site but not yet incorporated in the Work. Any approval by City for payment for materials and equipment delivered and suitably stored at the site for subsequent incorporation in the Work shall be conditioned upon Contractor's demonstrating that such materials and equipment are adequately protected from weather, damage, vandalism and theft and that such materials and equipment have been inventoried and stored in accordance with procedures established by or approved by the City. Nothing in this clause shall imply or create any liability on the part of the City for the Contractor's inventory and storage procedures or for any loss or damage to material, equipment or supplies stored on the site, whether incorporated into the work or not. In the event any such loss or damage occurs, the Contractor remains solely responsible for all costs associated with replacement of the affected materials, supplies and equipment including labor and incidental costs, and shall have no claim against the City for such loss. 7.4.3 All applications for payment MUST be made on a standard AlA payment application form acceptable to the City Representative and must contain the PO number and other project information. All payment applications must include Original releases of Liens from all suppliers, materialmen, subcontractors, and the Prime Contractor. Applications will not be processed without all pertinent back-up documentation as required by the City's Representative. 25