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I <br /> Payment Bond as required by these Contract Documents , <br /> 2 , Payment : The total lump sum to be paid for this item shall not exceed one <br /> and one - half ( 1 . 5) percent of the total bid . Twenty-five (25 ) percent of the bid <br /> item amount may be paid in the first application for payment and the remaining <br /> seventy-five (75 ) percent of the bid item amount shall be paid in the last <br /> application for payment . <br /> D . Item 1 . 04 - Insurance Coverage : <br /> 1 . Measurement: The lump sum payment will be full compensation for providing <br /> ALL the specified insurance coverage required by the Contract Documents , <br /> 2 . Payment : Fifty ( 50 ) percent of the bid item amount will be paid in the first <br /> application for payment , and the remaining fifty ( 50 ) percent of the bid item <br /> amount shall be paid for Insurance Coverage will be made when the project is <br /> complete and accepted by the OWNER <br /> E . Item 1 . 06 - Record Drawings and Survey Work : <br /> 1 . Measurement and Payment : The lump sum payment will be full compensation , <br /> including but not limited to , all labor, materials , and equipment required to <br /> prepare project record drawings including AutoCAD work and establish and <br /> protect survey control points , replace disturbed or destroyed property <br /> monuments and survey control points , and perform construction staking . <br /> 2 . Payment : Twenty-five (25 ) percent of the bid item amount may be paid in the <br /> first application for payment , twenty-five (25 ) percent may be paid at <br /> approximately the one- half way point in the construction contract , and the <br /> remaining fifty ( 50 ) percent of the bid item amount shall be paid in the last <br /> application for payment . <br /> 2 . 0 CONSTRUCTION ITEMS and 3 . 0 UNIT PRICE ITEMS <br /> G . Item 2 . 01 and 2 . 07 — This item is listed and generally described in Section 00310 <br /> Bid Form <br /> 1 . Measurement : The lump sum payment will be full compensation for constructing <br /> all items in accordance with the Contract Documents and regulatory <br /> requirements , including but not limited to , all labor, materials , equipment , <br /> permits , cleanup , disposal of debris , transportation and maintenance during the <br /> term of the Project and startup . <br /> 2 . Payment : Payment will be based on percent of bid item completed . ( i . e . 10 <br /> percent of lump sum amount ( less retainage ) will be paid at 10 percent of <br /> earned bid item . ) <br /> H . Items 2 . 02 , 2 . 03 , 2 . 04 , 2 . 05 , and 2 . 06 — These items are listed and generally <br /> described in Section 00310 Bid Form . <br /> 1 . Measurement : The quantity of the item will be the measured amount of the <br /> Last Revised 12/2007 01025-3 Wabasso Beach Pk Restoration <br /> F :\Public Works\Cliff Suthard\Wabasso Beach Park\A Construction Bid Documents\Bid Documents as of 1 -9-2008\Technical <br /> Specifications\Div 1 \01 025 - Measurement and Payment.doc <br />