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<br />/l <br /> <br />LJ <br /> <br />/l <br /> <br />LJ <br /> <br />/l <br /> <br />LJ <br /> <br />11 <br />l.J <br /> <br />/l <br /> <br />LJ <br /> <br />/l <br /> <br />LJ <br /> <br />/l <br />I <br /> <br />LJ <br /> <br />r <br /> <br />LJ <br /> <br />/l <br /> <br />LJ <br /> <br />(I <br /> <br />LJ <br /> <br />(I <br /> <br />L..J <br /> <br />11 <br /> <br />LJ <br /> <br />/l <br />LJ <br /> <br />(I <br />LJ <br /> <br />(I <br /> <br />LJ <br /> <br />fl <br />LJ <br /> <br />fl <br />LJ <br /> <br />rr <br /> <br />LJ <br /> <br />/l <br />LJ <br /> <br />181ST ACTIVE PARK <br /> <br />Julv 19J\PRIL 10, 2005 <br /> <br />refuse or fail to complete the project by the project completion date within the time specified <br />in paragraph 3.1 for completion and readiness for final payment or any proper extension <br />thereof granted by OWNER, CONTRACTOR shall pay OWNER One Thousand and 00/100 <br />dollars ($1000.00) for each day that expires after the time specified in paragraph 3.1 for <br />completion and eadi ss for final payment. <br />.5i~ ~k~ ~ ~e ~.P~p#.s ~tJH;P <br />. ~ e; p~ ~"At: ~TVML W~ <br />Article 4. CONTRA PRICE. ~:J&-':;;t:..r /71f!/!HS .A--lL> A ~ fr1jP .so/"'? ~ ,4tL <br />. VN/r ~LI~.E5L ~/V/~ ~~ ~S. <br />OWNER shall pay CONTRACTOJ:f lor ccfmpretion of the Work in accordance with the Contract <br />Documents an amount in current funds equal to the sum of the amounts determined pursuant to <br />paragraphs 4.1 below: <br /> <br /> <br />~FOR A LUMP SUM CONTRACT OF: <br /> <br />TOTAL BASE BID (Lump sum, Unit prices, and contingency items) <br /> <br />Seven Million One Hundred Eihntv Six Thousand Four Hundred Twentv Three and 05/100 <br />(use words) ($ 7,186.423.05 ) <br />figures <br /> <br />As provided in paragraph 11.03 of the General Conditions estimated quantities are not guaranteed, <br />and determinations of actual quantities and classification are to be made by ENGINEER as provided <br />in paragraph 9.08 of the General Conditions. Unit prices have been computed as provided in <br />paragraph 11.03,8 of the General Conditions, <br /> <br />Article 5. PA YMENT PROCEDURES. <br /> <br />CONTRACTOR shall submit Applications for Payment in accordance with Article 14 of the General <br />Conditions. Applications for Payment will be processed by ENGINEER as provided in the General <br />Conditions. <br /> <br />5.1. Progress Payments; Retainage. OWNER shall make progress payments on account <br />of the contract Price on the basis of CONTRACTOR's Applications for Payment as <br />recommended by ENGINEER, on or about the last day of each month during construction as <br />provided in paragraphs 5.1.1. and 5.1.2. below. All such payments will be measured by the <br />schedule of values established in paragraph 2.07 of the General Conditions (and in the case <br />of Unit Price Work based on the number of units completed) or, in the event there is no <br />schedule of values, as provided in the General Requirements. <br /> <br />5. 1. 1. Prior to Substantial Completion, progress payments will be made in an <br />amount equal to the percentage indicated below, but, in each case, less the <br />aggregate of payments previously made and less such amounts as ENGINEER shall <br />determine, or OWNER may withhold, in accordance with paragraph 14,02 of the <br />General Conditions. <br /> <br />~ % of Work completed (with the balance being retainage). If Work has <br />been 50% completed as determined by ENGINEER, and if the character and <br />progress of the Work have been satisfactory to OWNER and ENGINEER, <br />OWNER, on recommendation of ENGINEER, may determine that as long as <br />the character and progress of the Work remain satisfactory to them, there <br />will be no additional retainage on account of Work completed, in which case <br />the remaining progress payments prior to Substantial Completion will be in <br />an amount equal to 100% of the Work completed. <br /> <br />EJCDC STANDARD FORM OF AGREEMENT <br /> <br />00500-2 <br />