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extension thereof granted by OWNER, CONTRACTOR shall pay OWNER Five Hundred <br />00 /100 dollars ($500.00) for each day that expires after the time specified in paragraph 3.1 for <br />completion and readiness for final payment. <br />Article 4. CONTRACT PRICE. <br />OWNER shall pay CONTRACTOR for completion of the Work in accordance with the Contract <br />Documents an amount in current funds equal to the sum of the amounts determined pursuant to paragraphs <br />4.1 and 4.2 below: <br />4.1. for all Work other than Unit Price Work, a Lump Sum of: <br />N/A <br />(use words) <br />($ N/A <br />figures <br />All specific cash allowances are included in the above price and have been computed in accordance <br />with paragraph 11.02 of the General Conditions; <br />plus <br />4.2. for all Unit Price Work, an amount equal to the sum of the established unit price for each <br />separately identified item of Unit Price Work times the estimated quantity of that item as indicated <br />in this paragraph 4.2: <br />UNIT PRICE WORK <br />Refer to Exhibit "A" <br />TOTAL OF ALL UNIT PRICES One Hundred Sixty One Thousand One Hundred Sixty Five <br />dollars and 00 /100 <br />$161,165.00 <br />As provided in paragraph 11.03 of the General Conditions estimated quantities are not guaranteed, and <br />determinations of actual quantities and classification are to be made by ENGINEER as provided in <br />paragraph 9.08 of the General Conditions. Unit prices have been computed as provided in paragraph <br />11.03.B of the General Conditions. <br />Article 5. PAYMENT PROCEDURES. <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 />5.1. Progress Payments; Retainage. OWNER shall make progress payments on account of <br />the contract Price on the basis of CONTRACTOR's Applications for Payment as recommended by <br />ENGINEER, on or about the last day of each month during construction as provided in <br />paragraphs 5.1.1. and 5.1.2. below. All such payments will be measured by the schedule of values <br />established in paragraph 2.07 of the General Conditions (and in the case of Unit Price Work based <br />06/05 00500 -2 03- 4138.B S I <br />