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Alternate No. B-1 - Serine Conslruclion-Eleclrical Work for tl1e additional amount of Six 'fhnttsaad DollllI1l aad NollOO (+$6,000.001. Alternate No. E-2 - Power Factor Correction for the. additional amount of Fifteen Thousand. Four'Hundred DoHars aod No/IOO (+$15.400.001 Alternate No. E-3 - Summer Boiler for tlte additional amount of One Thousand Dolla", and No/I 00 (+$1.000,001. ~ 4.3 Uoit prices, if any, are as follows: Desaiption mA Units Price ($ 6:00) ARTICLE 5 PAYMENTS ~5.1 PROGRESS PAYMENTS g 5.1.1 Based upon Applications for Payment submil1ed to tl1e 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 onc calendar month ending on the last day of the month, or 3S ronows: ~ 5.1.3 Provided that an Application for Payment is received by tlte Architect not later than tlte Twcntv-fifth day of a month, the Owner shall rnake payment to the ConlJ'actor not later than the !i!!!l day of the 'followin. month. If an Application for Payment is received by the Architect after the application date rued above, payment shall be made by the Owner not later than Fortv-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 ohalues 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 nf values shall be prepared io such form and supported by such data to substantiate its accuracy as the Architect may require. This schedule, unless objected to hy the Architect, shall be used as a basis for reviewing the ConlJ'aclor's Applications for PaymenL ~ 5.1.5 Applications for Payment shall indicate the pereentage of completion of each portioo of the Work as ofthe end of the period covered by the Applieatino fnr Payment. 15.1.6 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 ConlT1lct Sum properly allocable to completed Work a8 determined by multiplying the percentage completion of each portion of the Work by the share of the ConlT1lct Sum allocated to that portion of the Wort in the schedule of values, less retainage of Ten oercent ( 10.00% ),'Pendiog final determination of cost to the Owner of changes iothe Work;amounts notio dispute shall be included as provided in Section 7.3.8 of AlA Documenl A201-1997; .2 Add that portion of the Contract Sum properly allocable 10 materials and equipment delivered and, suitably stored at the site for subsequent incorporation in the completed construction (or. if approved io advance by the Owner, suitably stored off the site at a location agreed upon in writing), lcss relainage of Ten oercenl ( .1JlJl!lI!?); .3 Subtract the aggregate of previous payments made by the Owner; and .4 Subtract amounts, ifany, for which the Architect has withheld or nullified a Certificate for Payment as provided in Sectioo 9.5 of AlA Dncument A201-1997. AlADocumant A'18l""...1-i97. C~yrtghC C 19lfr, 1918, 1925,1937; 1951-, 1958,1961,1963; 1967, 19-74-, 19-n, 1967, 1991 and 1997 by'TnoAmerican Institute of Architects, All rlght.meN.d. WARNINQ: Thl. AJA- Document I. protected by U.s. Copyl1ghlllw.nd Intern.tlonal Tr..t.... 3 UnatUlhorlzed reproduction or dll1rlbUllon at thla AlA- Documenl, or any ponlon of It, may retullln sever. clvU.nd crlmlnll penllIln, and will be proaecUlad 10 the maximum Ublnl POI." unci., lhe law. This document was produced by AlA software at 09:38:11 on 09i1512OO5 under Ordor No.1000192558_1 which expires on 8/1112006, and is nollDr resale, User Not..: (1925478943)