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§ 5.1,6 Subject to other provisions of the Contract Documents, the amount of each progress payment shall be
<br />computed as follows:
<br />.1 Take that portion of the Contract Sum properly allocable to completed Work as determined by
<br />multiplying the percentage completion of each portion of the Work by the share of the Contract Sum
<br />allocated to that portion of the Work in the schedule of values, less retainage of Ten
<br />percent ( 1 0 %). Pending Final determination of cost to the Owner of changes in the Work,
<br />amounts not in dispute shall be included as provided in Section 7.3.8 of A[A Document A201-1997;
<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 [he Owner, suitably stored off the site at a location agreed upon in writing), less retainage
<br />of Ten percent ( 1 0 qo)~
<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 A201-1997.
<br />§ 5.1,J The progress payment mnount determined in accordance with Section S.I.C shall be further modified under the
<br />following circumsamces:
<br />.1 add, upon Substantial Completion of the Work, a sum sufticiem to increase the total payments to the
<br />full ttmount of the Contract Sum, less such amounts as the Architect shall determine for incomplete
<br />Work, retainage applicable to such work amd unsettled claims; and
<br />(Section 9.8.5 of AIA Document A2U/-1997 requires release njupplicable retaiuage upon Sabsln/uia!
<br />Completion ojWm'k with consent afsu/-et}', if any.)
<br />•2 add, if final completion of the Work is thereafter materially delayed through no fttult of the Contractor,
<br />any additional amounts payable in accordance with Section 9.10.3 of AIA Document A201-1997.
<br />§ 5.1.8 Reduction or limitation of retainage, if any, shall be ax follows:
<br />(/fit is iruended, prim to Suhstanrial Completion ojthe entire Work, to reduce a• limit the retainage resulting from
<br />the percentages inserted fn Sections 5.1.6.! and 5.1.6.2 above, and this is' not eeplained elsewhere in the Contract
<br />Documents, insert here provisions for such reduction or limitation. )
<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 fINAI PAYMENT
<br />§ 5.2.1 Final payment, constituting the entire unpaid balance of the Contract Sum, shat) he 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 A201-1997, 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 linal payment to the Contractor shall be made no later them 30 days after the issuance of the
<br />Architect's final Certificate for Payment, or as follows;
<br />ARTICLE 6 TERMINATION OR SUSPENSION
<br />§ 6.1 The Contract nwy be terminated by the Owner or the Contractor xs providctl in Article 14 of AIA Document
<br />A201-1997.
<br />§ 6.2 The Work may be suspcnde<I by the Owner ux provided in Article Id of AIA Ducuntent A201-1997,
<br />---- ----..°•^ ^••. -- -roar, copyngnr. m 1915, 1918, 1925. 1997, 1951, 1958, 1961, 1963, 1967, 1974, 1977, 1980, 1987, 1991 Bnd 1997 by The
<br />American Inslliwe of Archflecls. All rtghls reservetl. V/ARNIN G; This ;IA' Uncuinem Is prmcoln<I by U. S. Copyrlghl lmv and In lcmmional Treaties,
<br />Unaulhoriznd reprnrluclion or disnibupon ul this AIA' Oocumant. or any portion M il, may result in Fevaro civil antl crinllnai penalties, and will @:
<br />proseculoU to the maximum extent possible carder the law. Purchasers are permllletl to reproduce Ion (te) copies of Ihis document when completed. To
<br />report copyright violations of AIA Conlracl ~ocumenls. a-mail The American Institute of Architects' legal counsel, copyright@ala.org.
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