Reso 2008-1221 - Laserfiche WebLink

Home Browse Search

~ % of Work completed (with the balance being retainage). If Work has been 50% completed as determined by ENGINEER, and if the character and progress of the Work have been satisfactory to OWNER and ENGINEER, OWNER, on recommendation of ENGINEER, may determine that as long as the character and progress of the Work remain satisfactory to them, there will be no additional retainage on account of Work completed, in which case the remaining progress payments prior to Substantial Completion will be in an amount equal to 100% of the Work completed. ...2!L % (with the balance being retainage) of materials and equipment not incorporated in the Work (but delivered, suitably stored and accompanied by documentation satisfactory to OWNER as provided in Paragraph 14.02 of the General Conditions and within Section 9- 6.5 partial payments as provided in FDOT Standard Specifications for Road and Bridge Construction. 5.1.2. When circumstances beyond the CONTRACTORS control arise (as determined by the OWNER) the OWNER may allow the total payment to the CONTRACTOR to increase to 98% of the contract price (with the balance being retainage), less such amounts as ENGINEER shall determine, only after receipt of the final as-built and upon substantial completion of the project and in accordance with Paragraph 14.02 of the General Conditions, 5.2. Final Payment. Upon final completion and acceptance of the Work in accordance with Paragraph 14.07 of the General Conditions, OWNER shall pay the remainder of the Contract Price as recommended by ENGINEER as provided in said Paragraph 14,07. Article 6, INTEREST. (Not Applicable) Article 7. CONTRACTOR'S REPRESENTATIONS. In order to induce OWNER to enter into this Agreement CONTRACTOR makes the following representations: 7.1. CONTRACTOR has examined and carefully studied the Contract Documents (including the Addenda listed in Paragraph 8.9) and the other related data identified in the Bidding Documents including "technical data." 7.2. CONTRACTOR has visited the site and become familiar with and is satisfied as to the general, local and site conditions that may affect cost, progress, performance or furnishing of the Work. 7.3. CONTRACTOR is familiar with and is satisfied as to all federal, state and local Laws and Regulations that may affect cost, progress, performance and furnishing of the Work. 7.4. CONTRACTOR has carefully studied all reports of explorations and tests of subsurface conditions at or contiguous to the site and all drawings of physical conditions in or relating to existing surface or subsurface structures at or contiguous to the site (except Underground Facilities) which have been identified in the Supplementary Conditions as Southeastern Engineering Contractors, Inc, -3-