04-22-1998 Council Agenda - Laserfiche WebLink

Home Browse Search

3.2 The Cuntracl Sum is haled 111)01 the Iiplowing alternates, it an)t which are desaihed in the Cuntracl 1 )ocuments and are hereby tiecepled by the Owner: (Slide the numbers or other identyleation of accepted alternates. If decisions on other alternates are to be mode by the Owner subsequent to the execution of this ,ll'reenrcil, allach a schedule of such other alternates showing the (11110t for each and the date when that amount expires.) 3.3 Unit prices, if any, are as follows: ARTICLE 4 PAYMENTS 4.1 PROGRESS PAYMENTS 4.1.1 Based upon Applications for Payment submitted to the Architect by the Contractor and Certificates for Payment issued by the Architect, the Owner shall make progress payments on account of the Contract Sum to the Contractor as provided below and elsewhere in the Contract Documents. The period covered by each Application for Payment shall be one calendar month ending on the last day of the month, or as follows: 4.1.2 Provided that an Application for Payment is received by the Architect not later than the F i f th day of a month, the Owner shall make payment to the Contractor not later than the Thirtieth day of the same month. If an Application for Payment is received by the Architect after the date fixed above, payment shall be made by the Owner not later than F i f ty — f i ve days after the Architect receives the Application for Payment. 01997 AI A AIA DOCUMENT A107 -1997 ABBREVIATED OWNER - CONTRACTOR AGREEMENT The American Institute 4.1.2.1 Retainage shall equal 5% of the amount due from of Architects 1735 New York Avenue, N.W. each progress payment Washington, D.C. 200D652 ".' ,vARNING: Unlicensed photocopying violates U.S. copyright Page 64 !prosecution.