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' (but not as a penalty) CONTRACTOR shall pay OWNER four-hundred and fifty dollars <br /> ($450. 00) for each day that expires after the time specified in Paragraph 3 . 1 for Substantial <br /> Completion , if CONTRACTOR shall neglect, refuse or fail to complete the remaining work <br /> within the Contract Time or any proper extension thereof granted by OWNER , <br /> CONTRACTOR shall pay OWNER four-hundred and fifty dollars ($450. 00) for each day <br /> that expires after the time specified in Paragraph 3 . 1 for completion and readiness for final <br /> ' payment. <br /> ARTICLE 4. CONTRACT PRICE, <br /> 4. 1 OWNER shall pay CONTRACTOR for completion of the work in <br /> p accordance with the <br /> Contract Documents in current funds in the amount of $942 . 766. 00. <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 provided <br /> 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. The OWNER shall retain ten (10) percent of the <br /> payment amounts due to the CONTRACTOR until final completion and acceptance <br /> ' of all Work to be performed by the CONTRACTOR under the Contract Documents . <br /> Each request for a partial payment shall be submitted on an Application for Payment <br /> Form , which shall be accompanied by a executed copy of the Certification of <br /> ' Contractor. The OWNER WILL provide the forms. All progress payments will be on <br /> the basis of the progress of the work measured by the schedule of values <br /> established in Paragraph 2 . 0513 and 2 . 07 of the General Conditions (and in the case <br /> ' of Unit Price Work based on the number of units completed) , or, in the event there is <br /> no schedule of values , as provided in the General Requirements . <br /> 5 . 1 . 1 Prior to Substantial Completion , progress payments will be made in an <br /> amount equal to the percentage indicated below, but, in each case, less the <br /> aggregate of payments previously made and less such amounts as <br /> ' ENGINEER shall determine, or OWNER may withhold , in accordance with <br /> Paragraph 14 . 02 . D of the General Conditions . <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. 02 of the General Conditions) . <br /> ' 5 . 2 Final payment. Upon final completion and acceptance of the work in accordance <br /> with Paragraph 14. 07 of the General Conditions , OWNER shall pay the remainder <br /> of the Contract Price as recommended by ENGINEER as provided in said <br /> ' 00530-3 <br /> FAUtillieslUTILITY - ENGINEERING\Projects - Utility Construction Permits\North County R . O . Brine Disposal Relocation\00530 EJCDC <br /> ' - Agreement between Owner and Contractor-Tri Sure.doc <br />