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6 . 02 Progress Payments, Retainage <br /> A. OWNER shall make progress payments on account of the Contract Price on the basis <br /> of CONTRACTOR's Applications for Payment at intervals not less than once each <br /> month during performance of the Work as provided in paragraph 6 . 02 .A. 1 below. All <br /> such payments will be measured by the schedule of values established in paragraph <br /> 2 . 07 .A of the General Conditions (and Supplementary Conditions if applicable) (and in <br /> the case of Unit Price Work based on the number of units completed) or, in the event <br /> there is no schedule of values, as provided in the General Requirements: <br /> 1 . Progress payments will be made in an amount equal to the percentage indicated <br /> below but, in each case, less the aggregate of payments previously made and less <br /> such amounts as ENGINEER may determine or OWNER may withhold , in <br /> accordance with paragraph 14 . 02 of the General Conditions (and Supplementary <br /> Conditions if applicable) : <br /> a . Ninety percent (90%) of Work completed (with the balance being retainage); <br /> and <br /> b. Eighty percent (80%) of cost of materials and equipment not incorporated in the <br /> Work but stored on the Project site (with the balance being retainage) . <br /> 6 . 03 Final Payment <br /> A. Upon final completion and acceptance of the Work in accordance with paragraph 14 . 07 <br /> of the General Conditions (and Supplementary Conditions if applicable) , OWNER shall <br /> pay the remainder of the Contract Price as recommended by ENGINEER as provided in <br /> said paragraph 14 . 07 . <br /> ARTICLE 7 as INDEMNIFICATION <br /> 7 . 01 CONTRACTOR shall indemnify . OWNER , ENGINEER, and others in accordance with <br /> paragraph 6 . 20 (Indemnification) of the General Conditions (and Supplementary <br /> Conditions if applicable) to the Construction Contract, <br /> ARTICLE 8 - CONTRACTOR'S REPRESENTATIONS <br /> 8 . 01 In order to induce OWNER to enter into this Agreement CONTRACTOR makes the <br /> following representations: <br /> A. CONTRACTOR has examined and carefully studied the Contract Documents and the <br /> other related data identified in the Bidding Documents . <br /> Be CONTRACTOR has visited the Site and become familiar with and is satisfied as to the <br /> general , local , and Site conditions that may affect cost, progress, and performance of <br /> the Work. <br /> Be CONTRACTOR is familiar with and is satisfied as to all federal , state, and local Laws <br /> and Regulations that may affect cost, progress, and performance of the Work. <br /> 12 Agreement 1117 <br /> 00520 - 4 <br /> C1.WM neMa and $ettitpsbbtuMxD"kto Wdpa Contract PadWo%12 AWewnw t 1117.doo Rev. 05101 <br />