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1 <br /> ARTICLE 5. PAYMENT PROCEDURES . <br /> CONTRACTOR shall submit Applications for Payment in accordance with Article 14 of the <br /> General Conditions . Applications for Payment will be processed by ENGINEER as <br /> ' provided in the General Conditions . <br /> 5 . 1 Progress Payments . OWNER shall make progress payments on account of the <br /> Contract Price on the basis of CONTRACTOR'S Applications for Payment as <br /> recommended by ENGINEER , on or about the 30th day of each month during <br /> construction as provided below. All progress payments will be on the basis of the <br /> progress of the work measured by the schedule of values established in Paragraph <br /> 2 . 9 of the General Conditions (and in the case of Unit Price Work based on the <br /> number of units completed ) , or, in the event there is no schedule of values , as <br /> ' provided in the General Requirements . <br /> 5 . 1 . 1 Prior to Substantial Completion, progress will be made in an amount equal <br /> to the percentage indicated below, but, in each case , less the aggregate of <br /> ' payments previously made and less such amounts as ENGINEER shall <br /> determine , or OWNER may withhold , in accordance with Paragraph 14 . 7 of <br /> the General Conditions . <br /> ' 90% of work completed . If work has been 50 % completed as determined <br /> by ENGINEER , and if the character and progress of the work have been <br /> 1 satisfactory to OWNER and ENGINEER , OWNER , on recommendation of <br /> ENGINEER , may determine that as long as the character and progress of <br /> the work remain satisfactory to them , there will be no additional retainage <br /> ' on account of work completed , in which case the remaining progress <br /> payments prior to Substantial Completion will be in an amount equal to <br /> 100% of the work completed . <br /> ' 50% of materials and equipment not incorporated in the work ( but delivered , <br /> suitably stored and accompanied by documentation satisfactory to OWNER <br /> ' as provided in Paragraph 14 . 2 of the General Conditions ) . <br /> 5 . 1 . 2 Upon Substantial Completion in an amount sufficient to increase total <br /> ' payments to CONTRACTOR to 100 % of the Contract price , less such <br /> amounts as ENGINEER shall determine , or OWNER may withhold , in <br /> accordance with Paragraph 14 . 7 of the General Conditions . <br /> ' 5 . 2 Final payment . Upon final completion and acceptance of the work in accordance <br /> with Paragraph 14 . 13 of the General Conditions , OWNER shall pay the remainder <br /> of the Contract Price as recommended by ENGINEER as provided in said <br /> ' Paragraph 14 . 13 . <br /> ARTICLE 6 . INTEREST, <br /> Not Applicable . <br /> ' 044572000 <br /> 00530 - 3 <br />