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AG 2002 07 22 (Regular)
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AG 2002 07 22 (Regular)
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Last modified
3/2/2006 5:01:32 PM
Creation date
11/27/2017 11:43:40 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
7/22/2002
Board
Board of Commissioners
Meeting Type
Regular
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.1 <br /> <br />Take that portion of the Contract Sum properly atloc~ble to Completed Work. as determined by muir/plying the <br />percentage completion of each portion of the Work by the share of the Contract Sum atlocated to that portion of the <br />Work in the schedule of values, less reta/nage of ten percent ( 10 %). Pending final determination of cost to the <br />Owner of changes in the Work, amounts not in dispute sh~ll be included as provided in Subparagraph 7.3.8 of AIA <br />Doc ,ument A201-19.97; <br /> <br />.2 <br /> <br />Add that portion of the Contract Sum properly allocable to material~ and equipment delivered and suitably stored at <br />the site for subsequent incorporati°n in the completed construction (or, if approved in advance by the Owner, <br />suitably stored off the site at a location agreed upon in writing), less retainage of ten percent ( 10 %); <br /> <br />.3 Subtract the aggregate of previous payments made by the Owner; and <br /> <br />.4 Subtract amounts, if any, for which the Architect has withheld or nullified a Certificate for Payment as provided ha <br /> Paragraph 9.5 of AIADoeument A201-1997. <br /> <br />4.1.7 The progress payment amount determined in accordance with Subparagraph 5.1.6 shall be further modified under the <br />fei,lowing circumstances: <br /> <br />,1 <br /> <br />Add, upon Substantial Completion of the Work, a sum sufficient to increase the total payments to the full araount of <br />the Contract Sum, less such amounts as the Architect shall determine for incomplete Work, reminage applicable to <br />such work and unsettled claims; and <br />($~pa~ R g 3 of ~ Doc~ A201-19~7 ~q~ ~l~as~ of ~caM~ r~tainag~ ~on 8~b~a~tial ~ompl~tio~ of ~o~k ~th ~ of <br /> <br /> .2 Add, if final completion of the Work is thereafter mater/ally delayed through no fault of the Contractor, any <br /> additional amounls payable in accordance with Subparagraph 9.10.3 of AIA Document A201-1997. <br /> <br />5.1.8 Reduction or lim/tation of retain~e, if any, shall be as follows: <br />~f it ~ lntend~o~ z~lve to $~b~ta~qal Com~tlon of the e~ttre Forl~ to ra~c~ or ltmit the retainage re~ting from the percemage~ l~ea.ted in Clm~es 5. l. ~ 1 <br />and 3.1. 6. 2 abo~e, and this is not e. vpiz~ed ~tsw~her~ i~ tt~ Comr~ Dormant4 i~rt t~re pro~Lrio~ for z'~eh redm~ion or limitaiio~ ) <br />At the time the Work is fifty_ percent ($0%) complete and thereafter, if the manner of completion of theWork and its proe_r_ ess are <br />and remain satisfactory, to the Architect and Owner, the Owner will. on sul-,m~ssion by the Contractor of a donsent of surety, <br />withhold no retainage from the remain/n~_ progress Fayment-~ The Owner may re£n.~te the full ten percertt (l 0%) remln~e if the <br />manner of completion of the:Work and its _ore.ess do not remain sadst~actory to the Architect ~d Owner, <br /> <br />~.1 .~ Except with the Owners prior approval, the Contractor shall not make advance payments to suppliers for materials or <br />equipment which have not been delivered and stored at the site. <br /> <br />5.2 FINAL PAYMENT <br />6.2.t Final payment, constituting 'the entire unpaid balance of the ConWact Sum, shall be made by the Owner to the Contractor <br />when: <br /> <br />.1 <br /> <br />the Contractor has fully performed the Contract except for the Contractor's responsibility to correct Work as <br />provided in Subparagraph 12.2.2 of AIA Document A201-1997, and to satisfy other requ/rements, if any, which <br />~d beyond final payment; and <br /> <br />.2 a final Certificate for Payment has been issued by the Architect. All_odor certificates or estimates tmon which have <br /> been made_ being merel_v partial estimates, are subject to correction ha the final payment <br /> <br />5.2.2 The Owners final payment to the Contractor shall be made no later than 30 days after the issuance of the.Arch/tect~s fir/al <br />~ Cert/ficate for Payment, or as follows: ~ <br /> <br />ARTICLE 6 TERMINATION OR SUSPENSION <br /> 6.1 The Contract may be terminated by the Owner or the ConWactor as provided in Article 14 of ATA Document A201-1/)97. <br /> <br />© AIA DOCUMENT Al01 -OWNEI~ - cOWrRACTOP. AGREEMENT - 1997 EDITION- AIA - COPYRI(JHT 1997 - 'rl-~ AMERICAN INS'riTLITE OF <br />ARCHI"rECT3, 1735 NEW YORK AVENUE N.W:, WAItHINGTON, D.C. 200065292. WARNING: Unlicensed photocop~in~ v/elates U.S. copyright laws and will <br />subject the violator t~ legal prosecution. This d~cum~at was electronically pmduccdwith permission of'thc AIA and ~ be. repreducedwiflmut'violation u~Jl the date af <br />expiration ss noted below, expiration as noted below. Us~r Document:. CABSG'YMNASIUM3A101.AIA - 7/3f2002. AIA License Number 1121653, which ~pims on <br />2/2/2003. <br /> <br /> Electronic Format A101-1997 <br /> 4 <br /> <br /> <br />
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