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<br />~5.,1J The progress payment ammmt determined in accordance witb Section 5.1.6 sbJlll be further mod.ified under
<br />the following circumstances:
<br />
<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., retainageapplicahletusuch worlumd IIn,\:pttl,.iI cl..aims;..and
<br />(Section 9.8.5 of AlA Document A201-1997 requires release of applicable retainage upon Substantial
<br />Completion of Work with consent of surety. if any. J
<br />
<br />.2 Add, if final completion of the Work is thereafter materially delayed througb no fault of the
<br />Contractor, any additional amounts payable in accordanee with Section 9.10,3 of AlA Document
<br />A201-1997,
<br />
<br />~ 5.1.8 Reduction or limitation ofretainage, if any, shall be as follows:
<br />(If it is intended, prior to Sub.'i1antial Completion of the entire Work, to reduce or Urn"! the retainage resulting from
<br />the percentages inserted in Sections 5.1.6.1 and 5.1.6.2 above, and thi.'l is not explained elsewhere in the Contract
<br />Document..., insert here provisions for such reduction or limitation.)
<br />
<br />With satisfactorv nrriiect nro{!ress and' wor1.mansbio. retainai!!e wID' Cf".ase once 7-5% aBhe contract amount
<br />has been retained.
<br />
<br />~5.1.9 Exeeptwith the Owner'. prior appTOvaJ, the Contractor shall not l!lJlke advance payments 10 suppliers fur
<br />materials or equipment wbicb have not been delivered and stored at thc site.
<br />
<br />i5.2 flNAL. PAVMEIIT
<br />~ 5.2,1 Final payment, constituting the entire unpaid balance of the ConlI'act Sum. sball be made by the Owner to the
<br />Contractor when:
<br />
<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 AlA Document A201 - I 997, and to satisfy other requirements,
<br />if any, which extend beyond final payment; and
<br />
<br />.2 a final Certificate for Payment bas been issued by thc Arcbitect.
<br />
<br />~5,2.2Thc Owner's final payment to the ConlI'actor sball be made no later lban 30 days aller theissuance of the
<br />Architect's final Certificate for Payment, or as follows:
<br />
<br />+ J8tA'
<br />
<br />ARTICLE 6 TERMINATION OR SUSPENSION
<br />i,6.1 The COIlII'aCI may be tenninated by theOwllCr or the Conlractor as provided in Article 14 of AlA Document
<br />A20l-1997.
<br />
<br />i6.2 The Work may be suspended by the Owner as provided in Article 14 of AIADocument A201-1997.
<br />
<br />ARTICLE 7 MISCELLANEOUS PRO\llSIONS
<br />17.1 Where reference is made in this Agreement to a provision of AlA Document A201-1997 or another Contract
<br />Document, the reference refers to that provision a..'l, amended or supplemented by other provisions of the Contract
<br />Documents.
<br />
<br />fi7.2 Payments due and unpaid under the Contract shaJIbcarinterest from the date payment is due at the rate staled
<br />below, or in the absence thereof, at the legal rate prevailing from time to time at the place where the Project is
<br />located.
<br />(Insert rate of interest agreed upon, itany.)
<br />
<br />NI A ) ner annum
<br />
<br />IdA ~:.tII,l~ntAte1-1II-1997. Copyright 0191-5.1918,1925, 1-&31, 1951, 1958, 1961, 1963-, 1967, 1914, 19n, 1987, 1991 and 199-7 by The American
<br />Institute 01 Architects. All rJghts reserved. WARNINQ: ThIs AlA- Document Is protected by U.s. Copyl1ght Law Incllnternatlonll Tr..t.... 4
<br />Un.uthorlzed reproduction or dJltrlbutlon 011hl. AlA- Document, or eny portion ot II, may ....ult In "vere civil and crlmlnel penalties, and will be
<br />proteeUled to the maximum extent pos.lble under the law. This documont was producod by AlA software al 09:38:11 on 09115/2005 under Order
<br />No.1000192556_1 which expires on 811112006, and Is not for resale.
<br />User Notes: {1925478943}
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