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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_ of <br /> CONTRACTOR's Applications for Payment at intervals not less than once each month <br /> during performance of the Work as provided in paragraph 6 . 02 .A. 1 below. All such <br /> payments will be measured by the schedule of values established in paragraph 2. 07 .A of <br /> the General Conditions (and Supplementary Conditions if applicable ) (and in the case of <br /> ' Unit Price Work based on the number of units completed ) or, in the event there is no <br /> schedule of values , as provided in the General Requirements : <br /> r 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 accordance <br /> with paragraph 14 . 02 of the General Conditions (and Supplementary Conditions if <br /> ' applicable ) : <br /> a . Ninety percent (90% ) of Work completed (with the balance being retainage) ; and <br /> rb . 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 of <br /> ' the General Conditions (and Supplementary Conditions if applicable ) , OWNER shall pay <br /> the remainder of the Contract Price as recommended by ENGINEER as provided in said <br /> ' paragraph 14 . 07. <br /> ARTICLE - 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 /> r B . 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 the <br /> Work. <br /> rC . CONTRACTOR is familiar with and is satisfied as to all federal , state , and local Laws and <br /> Regulations that may affect cost, progress , and performance of the Work. <br /> 1 <br /> r - <br /> Agreement (Public_ Works) <br /> r <br /> 00520 - 4 <br /> FAPublic Works\Capital Projects\Oslo - 43rd Avenue%CONTRACT DOCUMENTS\Agreement (Public Works).doc Rev. 05101 <br />