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.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 />~~~
<br />~ - (Section 9.8.5 of AIA Document A201-]997 requires release of applicable retainage upon Substantial
<br />,„ ~`~* €• ..","~ Completion of Work with consent of surety, if any.)
<br />`fit .2 Add, if final completion of the Work is thereafter materially delayed through no fault of the
<br />~. „ Contractor, any additional amounts payable in accordance with Section 9.10.3 of AIA Document
<br />A201-
<br />8 Reductipn or li odof retainage, if any, shall be as follows:
<br />is tnaettd¢~, prig , bstantial Completion of the entire Work, to reduce or limit the retadnage resulting from
<br />ercenlpg~S,-fns ' 1nSections 5.1.6.1 and 5.1.6.2 above, and this is nor explained elsewhere in the Contract
<br />emegtst ,~' ~n ~ provisions for such reducdion or limitation.)
<br />prior approval, the Contractor shall not make advance payments to suppliers for
<br />the no[ been delivered and stored at the site.
<br />B,Y,'~,p3tingl peym "ilt~tlt 4g the entire unpaid balance of the Contract Sum, shall be made by the Owner to the
<br />onttft'ctor when,
<br />i.~i µ ~' K
<br />{~ .1 ~ VW ntr6f±2o1' sis fully performed the Contract except for the Contractor's responsibility to correct
<br />¢. .. ork,~as G2tV~} din Section 12.2.2 of AIA Document A201-1997, and to satisfy other requirements,
<br />" "tf aiCy, W}ldpEt" ,• nd beyond final payment; and
<br />}; ~~ c1
<br />iq ;~;. 0. final `a. ~ e"for Payment has been issued by the Architect.
<br />- F ~. ~ata<-.
<br />~~. ~;
<br />0.2~ OwDef`''~ fatia payment to the Contractor shall be made no later than 30 days after the issuance of the
<br />Fo,11~ttl 's flg6~ [Gate for Payment, or as follows:
<br />~~~ .yts
<br />t
<br />r. 4~t~'
<br />by the Owner or the Contractor as provided in Article 14 of AIA Document
<br />Owner as provided in Article 14 of AIA Document A201-1997.
<br />~feferertG>~ ~tis Agreement to a provision of AIA Document A201-1997 or another Contract
<br />the refer`ti 'that provision as amended or supplemented by other provisions of the Contract
<br /># ••~ Payrt' l~unpaid under the Contract shall bear interest from the date payment is due at the rate stated
<br />k- ~' w, or in d~Ace thereof, at the legal rate prevailing from time to time at the place where the Project is
<br />E'
<br />'~"' located.
<br />(Jplsertrctlt pftterestagreed~upon, if any.) -
<br />{
<br />~,d ~ £ ~ a G ~ 8:00%) per annum
<br />tm, ~ ~~~ ~, . __ It7tvgjequirement,~ under the Federal Truth in Lending Act, similar state and local consumer credit laws
<br />and other regulations at the Owner's and Contractor's principal places of business, the location of the Project and
<br />elsewhere may crfect the validity of this provision. Legal advice should be obtained with respect to deletions or
<br />modifications, and also regarding requirements such as written disclosures or waivers.)
<br />AIA Document A701Ta -7997. Copyright ®1915, 1918, 1925, 1937, 1951, 1956, 19fi1, 19fi3, 1967, 1974, 1977, 1897, 1991 end 1897 by The American
<br />Institute of Architects. All rights reaer;vetl. WApNING: Thla AIA°1 Document la protected by U.S. Copyright Law end Internaflonal Trestles. Unauthorized
<br />reproducdon or dlatributlon ai this AIAa Document, or any pardon of It, may result fn severe civil and criminal penalties, antl will be prosecutetl to the
<br />maximum extent possible under tfro~lew. This document was produced by AIA software et 13:18:22 on 09/04/2007 under Order No.1000316944_1 which
<br />expires on 6/12/2008, antl Is not for reAele.
<br />Ussr Notes: ~ I ~ (2085096059)
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