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—.3 Subtract the shortfall, if any, indicated by the Construction Manager in the documentation required by Section 7 . 1 .4 to substantiate prior Applications for Payment, or resulting from errors subsequently discovered by the Owner' s accountants in such documentation. 6—.4 Subtract amounts, if any, for which the Architect has withheld or nullified a Certificate r Payment as provided in Section 9.5 of A 011m 1997 . A201TM- 1997, as modified . 5. Subtract amounts if any, being withheld by the Owner as provided in the Contract Documents. § 7.1 .8,' , payments to SUbContEacters shall be subject to rretentie not less than The Owner- and the Constmetien Manager- shall agree upon a mutually acceptable pf-eeedur-e )r- review and approval of payments and retention ibr- subeentf-acts. § 7.1 .9 Except with the Owner ' s prior written approval, the Construction Manager shall not make advancePayments to suppliers for materials or equipment which have not been delivered and stored at the site. § 7.1 . 10 In taking action on the Construction Manager' s Applications for Payment, the Architect and the Owner shall be entitled to rely on the accuracy and completeness of the information furnished by the Construction N"flagef and _eined to represent that the Architect has made a detailed examination, audit of _aFidh___, __ of the doetimentation submitted in aceefdanee with Section 1 . 1 .4 er- other. suppeffing data, that the Arehite �t has made exhaust,ive eE continuous on site inspections er- that the Afebillect has faade examinations to aseeftai , how for what purposes the Constmetion Managef has used amounts previously paid on account of dhe C�11� �Wlo Suph . . .: . . audits . . . . . emain ons ons f-ed by the Owner-, ll be peffeEmed by the QvirneF9s aeeeu tants x . r acting n the sale irate mot of. to ,. n agn :.Mna er. • § 7 .2 FINAL PAYMENT § 7.24 Final payment shall be made by the Owner to the Construction Manager when ( 1 ) the Contract has been fully performed by' the Construction Manager except for the Construction Manager' s responsibility to correct nonconforming Work, as provided in Section 12.2.2 of A201TM- 1997 , as modified, and to satisfy other requirements, #-any,which necessarily survive final payment; (2) a final Application for Payment and a ft ial accounting , for the Cost. of the Work have been submitted by the Construction Manager and reviewed by Owner' s accountants; and (3) a final Certificate for Payment has then been issued by the A _ t�Archit ct for the Owner'sapproval : such final payment shall be made by the Owner not more than 30-25 days after the Owner' s approval of the Architect' s final Certificate for : Pa mens along with pror evidence showing that all suppliers and sub-contractors have been paid, and such request has been presented to reviewed and approved by the Indian River County Board of County Commissioners. § 7.2.2 The amount of the final payment shall be calculated as follows: A Take the sum of the Cost of the Work substantiated by the Construction Manager' s final acc ounting and the Construction Manager' s Fee, but not more than the Guaranteed Maximum Price. .2 Subtractamounts, if any, for which the Architect or Owner withholds, in whole or in part, a final Certificate for Payment as provided in Section 9.5 . 1 of A-2011M 1997 A201TM- 1997 as moU91 or other provisions of the Contract Documents. ,3 Subtract the aggregate of previous payments made by the Owner. If the aggregate of previous payments made by the Owner exceeds the amount due the Construction Manager, the Construction Manager shall reimburse the difference to the Owner. § 7.2.3 YYICUDon theOwner' s direction, the Owner' s accountants will review and report in writing on the Construction Manager' s final accounting within 30 days after delivery of the final accounting to the Archit ct by the Construction Manager. Based upon such Cost of the Work as the Owner' s accountants-Accountants report to be substantiated by the Construction Manager' s final accounting, and provided the other conditions of Sectiof 7 .2 . 1 have been met, the Architect will, within seven days after teeeipt completion of the written report of theOwner' s accountants, , either issue to the Owner a final Certificate for Payment with- y-to the Construction Manager or notify the Construction Manager and Owner in writing of the Architect' s and Owner' s reasons for withholding a certificate as provided in Section 9.5 . 1 of A-201114 1997 . A201TM- 1997 , as modified. The time periods sta ed in this Section 7 .2 supersede those stated in Section 9.4. 1 of A2011M 1997.A201TM-- 1997 . as modified . § 7.2.4 If thecaner disputes the Cost of the-Work as substantiated by the Con truction A4anages Manager' s final accounting to be less than elaimed by the ConstFuctien Manager—, accounting, tl ie Construction Manager shall be entitled to preeeed-assert a claim in accordance with Article decision 4 of the AIA Document A201 - AIA Document A121 TMCMc — 2003 and AGC Document 565. Copyright ® 1991 and 2003 by The American Institute of Architects and he Associated General Contractors of America. All rights reserved. WARNING : This document Is protected by U.S. Copyright Law and International Treaties. 17 Unauthorized reproduction or distribution of this document, or any portion of I% may result in severe civil and criminal penalties, and will be prosecuted to the maximum extent possible under the law. This document was produced by AIA software at 12:50: 12 on 04/19/2005 under Order No. 1000126313_1 which expires on 6/29/2005, and is not for resale. (1413727908) User Notes: I�