04-22-1998 Council Agenda - Laserfiche WebLink

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4.1.3 Payments due and unpaid under the Contract shall hear interest from the dale payment is due at the rate slated below, Orin the absence thereof, at the legal rate prevailing from time to time at the place where the Project is located. (Insert rate n( interest agreed upon, if any) (Usury lams and requirements under the Federal Truth in Lending Act, similar stale and local consumer credit Imes and other regulations of the Owner's and Contractors principal places of Imsiness, the location of the Project and elsewhere may affect the validity of this provision. Legal advice should be obtained %vin, respect to deletions 00 modifications, and also regarding requirements such as written disclosures or waivers.) 4.2 FINAL PAYMENT 4.2.1 Final payment, constituting the entire unpaid balance of the Contract Sum, shall be made by the Owner to the Contractor when: the Contractor has fully performed the Contract except for the Contractor's responsibility to correct Work as provided in Paragraph 17,2, and to satisfy other requirements, if any, which extend beyond final payment; and .2 a final Certificate for Payment has been issued by the Architect. 4.2.2 The Owner's final payment to the Contractor shall he made no later than 30 days after the issuance of the Architect's final Certificate for Payment, or as follows: ARTICLE 5 ENUMERATION OF CONTRACT DOCUMENTS 5.1 The Contract Documents are listed in Article 6 and, except for Modifications issued after execution of this Agreement, are enumerated as follows: 5.1.1 The Agreement is this executed 1997 edition of the Abbreviated Standard Form of Agreement Between Owner and Contractor, AIA Document Alo7 -1997. 5.1.2 The Supplementary and other Conditions of the Contract are those contained in the Project Manual dated February 26, 1998 , 1111d are as foliows: Document Title Pages 00700 General Conditions of the 1 Contract 00800 Supplementary Conditions 13 uIr!c unlicensed photocopying violates U.S. copyright laws and wi! Page 65 ©1997 AIA®" AIA DOCUMENT A107 -1997 ABBREVIATED OWNER - CONTRACTOR AGREEMENT The American Institute of Architects 1735 New York Avenue, N.W Washington, D.C. 20006521;