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Pending final determination of cost to the Owner of changes in the Work, amounts not in dispute shall
<br /> be included as provided in Section 7.3.9 of AIA Document A201TM-2007,General Conditions of the
<br /> Contract for Construction;
<br /> .2 Add that portion of the Contract Sum properly allocable to materials and equipment delivered and
<br /> suitably stored at the site for subsequent incorporation in the completed construction(or,if approved in
<br /> advance by the Owner,suitably stored off the site at a location agreed upon in,writing),less retainage of
<br /> Ten percent( 10%);
<br /> .3 Subtract the aggregate of previous payments made by the Owner;and
<br /> .4 Subtract amounts,if any, for which the Architect has withheld or nullified a Certificate for Payment as
<br /> provided in Section 9.5 of AIA Document A201-2007.
<br /> § 5,1.7 The progress payment amount determined in accordance with Section 5.1.6 shall be further modified under the
<br /> following circumstances:
<br /> .1 Add,upon Substantial Completion of the Work,a sum sufficient to increase the total payments to the
<br /> full amount of the Contract Sum, less such amounts as the Architect shall determine for incomplete
<br /> Work,retainage applicable to such work and unsettled claims; and
<br /> (Section 9.8.5 of AIA Document A201-2007 requires release of applicable retainage upon Substantial
<br /> Completion of Work with consent of surety, if any.)
<br /> .2 Add,if final completion of the Work is thereafter materially delayed through no fault of the Contractor,
<br /> any additional amounts payable in accordance with Section 9.10.3 of AIA Document A201-2007.
<br /> 5.1.8 Reduction'or limitation of retainage,if any shall be as follows:
<br /> (If it is gitended,prior to Substantial Completion of the entire Work, to reduce or limit the retainage resultingfrom the
<br /> percentages inserted in Sections 5.1.6.1 and 5.1.6.2 above, and this is not explained elsewhere in the Contract
<br /> Documents„insert here provisions for such reduction or limitation.)
<br /> The Architect will authorize payment of 100%of the amount completed after a total of 5%of the Contract amount has
<br /> been retained,'providing progress on the Work is in accordance with or ahead of the Contractor's construction
<br /> schedule and is satisfactory to the Architect and if the Contractor has filed a Consent of Surety with the Architect.
<br /> § 5.1.9 Except with the Owner's prior approval,the Contractor shall not make advance payments to suppliers for
<br /> materials or equipment which have not been delivered and stored at the site.
<br /> § 5.2 FINAL PAYMENT
<br /> § 5.2.1 Final payment, constituting the entire unpaid balance of the Contract Sum, shall be made by the Owner to the
<br /> Contractor when
<br /> .1 the Contractor has fully performed the Contract except for the Contractor's responsibility to correct
<br /> Work as provided in Section 12.2.2 of AIA Document A201-2007,and to satisfy other requirements,if
<br /> any which extend beyond final payment;and
<br /> .2 a final Certificate for Payment has been issued by the Architect.
<br /> § 5.2.2 The Owner's final payment to the Contractor shall be made no later than 30 days after the issuance of the
<br /> Architect's final Certificate for Payment,or as follows:
<br /> N/A
<br /> ARTICLE 6 DISPUTE RESOLUTION
<br /> § 6.1 INITIAL DECISION MAKER
<br /> The Architect will serve as Initial Decision Maker pursuant to Section 15.2 of AIA Document A201-2007,unless the
<br /> parties appoint below another individual,not a party to this Agreement,to serve as Initial Decision Maker.
<br /> (If the parties mutually agree, insert the name,address and other contact information of the Initial Decision Maker, if
<br /> other than the Architect)
<br /> AIA Document A101 TM-2007.Copyright©1915,1918,1925,1937,1951,1958,1961,1963,1967,1974,1977,1987,1991,1997 and 2007 by The American
<br /> Init. Institute of Architects.All rights reserved.WARNING:This AIA Document is protected by U.S.Copyright Law and International Treaties.Unauthorized 4
<br /> reproduction or distribution of this AIA Document,or any portion of it,may result in severe civil and criminal penalties,and will be prosecuted to the
<br /> maximum extent possible under the law.This document was produced by AlA software at 14:43:39 on 04/17/2014 under Order No.0550464256_1 which expires
<br /> on 03/14/2015,and is not for resale.
<br /> User Notes: (861498489)
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