AG 2002 07 22 (Regular) - Laserfiche WebLink

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entitled in accordance with the terms of their respective contracts. 6.1.5 The Owner shall have no obligation under this Part 2 Agreement to pay or to be responsible in any way for payment to the Architeok another design professional, or a contractor performing portions of the Work. 6.1.5 Neither progress payment nor partial or entire ~e or occupancy of the Project by the Owner shall constitute an acceptance of Work not in accordance with the Contract Documents. 5.1.7 The Design/Builder warrants that title to all construction covered by an Application for Payment will pass to the Owner no later than the time of payment. The Design/Builder further warrants that upon submittal of an Application for Payment all construction for which payments have been received from the Owner shall be free and clear of liens, claims, security interests or encumbrances in favor of the Design/Builder or any other person or entity performing construction at the site or furnishing materials or equipment relating to the construction. ........... er ccm,. ~ticn cf :u~h ur^,t. Until the Work is fifty percent complete, the Owner will pay to the Desi_mVBuilder nine _ty percent of the amount due to Desi_mx/Builder on account of pro,ess pa.vments. At the time the Work is fifty, percent complete and thereafter, if the manner of completion of the Work and its prowess are and remain satisfactory_ to the Owner (and in the absence of other good and suffiCient reasons) the Owner will. on presentation by the Desi_mVBuilder of ~ consent of surety_ with each Application and Certificate o[ Pa_vment. authorize an.v remaining pro~ess pay~ent~ to be paid in full. The Owner may reinstate full retainage if the manner of completion of the Work and its pro_re'ess do r~0~ remain satisfactory_ to the Owner. or if the surety_ withholds itS consent, or for other good and sufficient reasons. 6.2 FINAL PAYMENT 6.2.1 Neither final payment nor amounts retained, if any, shall become due until the Design/Builder submits to the Owner (1) an affidavit that payrolls, bills for materials and equipment, and other indebtedness connected with the Work for which the Owner or Owner's property might be responsible or encumbered (less amounts withheld by the Owner) have been paid or otherwise satisfied; (2) a certificate evidencing that insurance required by the Contract Documents to remain in force after final payment is currently in effect and will not be canceled or allowed to expire until at least 30 days' prior written notice has been given to the Owner; (3) a written statement that the Design/Builder knows of no substantial reason that the insurance will not be renewable to cover the period required by the Contract Documents; (4) consent of surety, if any, to final payment; and (5) if required by the Owner, other data establishing payment or satisfaction of obligations, such as receipts, releases and waivers of liens, claims, security interests or encumbrances arising out of the Contract, to the extent and in such form as may be designated by the Owner. If a contractor or other person or entity entitled to assert a lien against the Owner's property refuses to furnish a release or waiver required by the Owner, the Design/Builder may furnish a bond satisfactory to the Owner to indemnify the Owner against such lien. If such lien remains unsatisfied after payments are made, the Design/Builder shall indemnify the Owner for all loss and cost, including reasonable attorneys' fees incurred as a result of such lien. 5.2.2 When the Work has been completed and the contract fully performed, the Design/Builder shall submit a final application for payment to the Owner, who shall make final payment within 30 days of receipt. 5.2.3 The making of final payment shall constitute a waiver of claims by the Owner except those arising from: ' .1 liens, claims, security interests or encumbrances arising out of the Contract and unsettled; .2 failure of the Work to comply with the requirements of the Contract Documents; or .3 terms of special warranties required by the Contract Documents. ~ 5.2.4 Acceptance of final payment shall constitute a waiver of all claims by the Design/Builder except those previously made in writing and identified by the Design/Builder as unsettled at the time of final Application for Payment. Insert AA: 5.2.5 All warranties and guarantees required under the Contract Documents shall be' assembled and delivered by the Design/Builder to the Owner as part of .the final Application for Payment. The final Certificate for Payment will not be issued until all warranties ~r~d guarantees have been received and accepted by the Owner. Insert AB: 5.2.6 All prior certificates or estimates upon which has been made. being merely partial estimates, are sub.iect to correction in the final paym~rlt. The Design/Builder shall furnish the Owner a certified