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II <br /> 3.3. EARLY COMPLETION BONUS. If CONTRACTOR completes the Work prior to the <br /> substantial completion date specified in paragraph 3.1 above, the CONTRACTOR will be eligible to <br /> receive an early completion bonus in the sum of Two Thousand and 001100 dollars ($2000.00) per <br /> day for each day the Work is complete prior to the substantial completion date specified in <br /> paragraph 3.1, up to a maximum amount of Sixty Thousand and 00/100 dollars ($60,000.00). <br /> Article 4. CONTRACT PRICE. <br /> OWNER shall pay CONTRACTOR for completion of the Work in accordance with the Contract <br /> Documents an amount in current funds equal to the sum of the amounts determined pursuant to <br /> paragraphs 4.1 below: <br /> 4.1. FOR A LUMP SUM CONTRACT OF: <br /> TOTAL BASE BID (Lump sum, Unit prices, and contingency items) <br /> (use words) ($ <br /> figures <br /> t 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 paragraphs <br /> 1 5.1.1. and 5.1.2. below. All such payments will be measured by the schedule of values established <br /> in paragraph 2.07 of the General Conditions (and in the case of Unit Price Work based on the <br /> number of units completed) or, in the event there is no schedule of values, as provided in the <br /> ' General Requirements. <br /> 5.1.1. Prior to Substantial Completion, progress payments will be made in an amount <br /> equal to the percentage indicated below, but, in each case, less the aggregate of <br /> payments previously made and less such amounts as ENGINEER shall determine, or <br /> OWNER may withhold, in accordance with paragraph 14.02 of the General Conditions. <br /> 1 90 % of Work completed (with the balance being retainage). If Work has been <br /> 50% completed as determined by ENGINEER, and if the character and progress <br /> of the Work have been satisfactory to OWNER and ENGINEER, OWNER, on <br /> recommendation of ENGINEER, may determine that as long as the character and <br /> progress of the Work remain satisfactory to them, there will be no additional <br /> retainage on account of Work completed, in which case the remaining progress <br /> payments prior to Substantial Completion will be in an amount equal to 100% of <br /> the Work completed. <br /> 90 % (with the balance being retainage) of materials and equipment not <br /> incorporated in the Work (but delivered, suitably stored and accompanied by <br /> documentation satisfactory to OWNER as provided in paragraph 14.02 of the <br /> General Conditions and within Section 9-6.5 partial payments as provided in <br /> FDOT Standard Specifications for Road and Bridge Construction. <br /> 05/08 Final Version 00500-2 05-4893 <br />