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Alternate No. M-l - Spring Construction-Mechanical Work for the additional amount ofTen Thousand Dollars and NollOO (+$10.000.00). Alternate No. M-2 - Summer Boiler for the additional amount of Fiftv-One Thousand. Seven Hundred Fiftv Dollars and No/loo (+$51.750.00). ~ 4.3 Unit prices, if any, are as follows: Description N/A Units Price ($ 0.00) ARTICLE 5 PAYMENTS ~ 5.1 PROGRESS PAYMENTS ~ 5.1.1 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. ~ 5.1.2 The period covered by each Application for Payment shall be one calendar month ending on the last day of the month, or as follows: ~ 5.1.3 Provided that an Application for Payment is received by the Architect not later than the Twenty-fifth day of a month. the Owner shall make payment to the Contractor not later than the liW day of the followin~ month. If an Application for Payment is received by the Architect after the application date fixed above, payment shall be made by the Owner not later than Forty-Five ( ~ ) days after the Architect receives the Application for Payment. ~ 5.1.4 Each Application for Payment shall be based on the most recent schedule of values submitted by the Contractor in accordance with the Contract Documents. The schedule of values shall allocate the entire Contract Sum among the various portions of the Work. The schedule of values shall be prepared in such form and supported by such data to substantiate its accuracy as the Architect may require. This schedule, unless objected to by the Architect, shall be used as a basis for reviewing the Contractor's Applications for Payment. ~ 5.1.5 Applications for Payment shall indicate the percentage of completion of each portion of the Work as of the end of the period covered by the Application for Payment. ~ 5.1.6 Subject to other provisions of the Contract Documents, the amount of each progress payment shall be computed as follows: .1 Take that portion of the Contract Sum properly allocable to completed Work as determined by multiplying the percentage completion of each portion of the Work by the share of the Contract Sum allocated to that portion of the Work in the schedule of values, less retainage of Ten percent ( 10.00% ). Pending final determination of cost to the Owner of changes in the Work, amounts not in dispute shall be included as provided in Section 7.3.8 of AlA Document A20 1-1997; .2 Add that portion of the Contract Sum properly allocable to materials and equipment delivered and suitably stored at the site for subsequent incorporation in the completed construction (or, if approved in advance by the Owner, suitably stored off the site at a location agreed upon in writing), less retainage of Ten Dercent ( ~); .3 Subtract the aggregate of previous payments made by the Owner; and .4 Subtract amounts, if any, for which the Architect has withheld or nullified a Certificate for Payment as provided in Section 9.5 of AlA Document A20 1-1997. AlA Document A101™ -1997. Copyright C> 1915,1918,1925,1937,1951,1958,1961,1963,1967,1974, 19n, 1987,1991 and 1997 by The American Institute of Architec\s. All rights reserved. WARNING: ThIs AlA" Document Is protected by U.s. Copyright Law and International Trestles. 3 Unauthorfzed reproduction or distribution of thts AlA" Document, or any portion of II, may resuh In severe clYU end criminal penah..., and will be prosecuted to the maximum extent possible under the law. This document was produced by AlA software at 08:49:03 on 09/15/2005 under Order No.1oo0192558_1 which expires on 8111/2006, and is nof for resale. User NOles: (691706547)