AG 2002 07 22 (Regular) - Laserfiche WebLink

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causes of delay, an extension of time shall be the Desi_m~rBuildefs exclusive remedy and the Design/Builder waives any fight it may otherwise have to dam~es because of such dela.vs or disruptions of any nature whatsoever to all or any part of the Work including, but not limited to, any acceleration of all or any part of the Work Insert Y: 4.7 The Owner and the Design/Builder acknowledge that if the Design/Builder fail.q to achieve Substantial Completion of the Project within the time !imits stated in this A~_ cement, the Owner will suffer darn~es which are difficult to ascertain. Accordingly. the Design/Builder agrees to pay to the Owner. as liquidated damages and not as a penal _ry. for each calendar day that passes after the time stated in the Contract Documents for Substantial Completion until the Desi_~Builder achieves Substantial Completion, liquidated damages in the mount of $250.00 per calendar day. ARTICLE 6 PAYMENTS 5.1 PROGRESS PAYMENTS 5.1.t The Design/Builder shall deliver to the Owner itemized Applications for Payment in such detail as indicated in Article 14. S.1.2 Withintenr~mthirtv(30)daysoftheOwner's~,~ _ . . receipt of a properly submitted and correct Application for Payment on notarized AIA forms G702 and G703. together with other reasonable supporting dobumentation as required by the Owner. the Owner shall make payment to the Design/Builder. Such su_nporting documentation shall include but not be limited to the £ollowing; 5.1.2.1 Monthly Job Cost Led~_er which summarizes payroll, material suppliers and subcontractor pa_wnent status for the current period. U_non request by the Owner. the Design/Builder shall provide payrolls, time sheets, receipted invoices for labor or material marked paid-in-full and release and waiver of liens, notarized and executed by the Desi?~Builder and any other evidence required by the Owner. 5.1.2.2 The form of Application for payment .qhal! be a notarized AIA Document G702. Application and Certificate for Payment. All Applications for Payment submitted by the Desi[m/Builder shall include: (1) the Design/Builders Affidavit of Payment of Debts and Claims: AIA Document G706: (2) the Desi_~n/Buildefs Affidavit of Release of Liens, AIA Document G706A: (3) if requested by the Owner. the Desi_~a-u13uildefs sworn statement showing the names and addresses of all subcontractors furnishing_ materials or labor and the amounts due or to.become due each: (4) if requested by the Owner. the Desi_m,./Buildefs swom statement showing_ the names and addresses of all material suppliers furnishing materials or labor and the amounts due or to become due each; and (5) if requested by the Owner, a sworn statement from each subcontractor showing names of all persons fumLqhing materials or labor and the amounts due, or to become due each. 5.1.2.3 Each Armlication for Payment shall be based on the most recent schedule of values submitted by the Design/Builder in accordance with the Contract Documents. The schedule of values (see Schedule of Values, Exhibit G, attached and incorporated herein) shall allocate the entire Guaranteed Maximum Price among the various portions of the Work, except that the DesigrffB~ilder's Fee shall be shown as a singfie separate item. The schedule of values shall be prepared in such form and supported by such data to substantiate its accuracy as the Owner may require. This schedule, unless objected to by the Owner, shall be used as a basis for reviewing the Desi_m~Buildefs Application for Pa_ym~nt. 5.1.3 The Application for Payment shall constitute a representation by the Design/Builder to the Owner that the design and construction have progressed to the point indicated; the quali~ of the Work covered by the application is in accordance with the Contract Documents; and the Design/Builder is entitled to payment in the amount requested. Insert Z: 5.1.3.1 The Owner may withhold a Certificate for Payment in whole or in part, to the extent reasonably necessary, to protect the Owner, if in the Owner's opinion the representation to the Owner required by Subparagraph 5.1.3 cannot be made. Owner may withhold a Certificate for Payment or, because of subsequently discovered .evidence, may nullify, the whole or a part of a Certificate for Payment previously issued to such extent as may be necessary, in the Owner's opinion to protect the Owner from loss for which the Design/Builder is responsible, including loss resulting from acts and omissions, because of: (1) defective work not remedied; (2) third party_ claims filed or reasonable evidence indicating probable filing of such claims unless security, acceptable to the Owner is provided by the Design/Builder; (3) failure of the Design/Builder to make payments properly to Subcontractors Or for labor, materials or equipment; (4) reasonable evidence that the Work cannot be completed for the unpaid balance of the Contract Sum; (5) damage to the Owner or another contractor: (6) reasonable evidence that the Work will not be completed within the Contract Time, and that the unpaid balance would not be adeo. uate to cover actual or liquidated damages for the anticipated delay; or (7) persistent failure to carry, out the Work in accordance with the Contract Documents. S.1.4 Upon receipt of payment from the Owner, the Desigru13uilder shall promptly pay the Architect, other design professionals and each contractor the amount to which each is V~499163.4