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Payment Bond as required by these Contract Documents, 2, Payment: The total lump sum to be paid for this item shall not exceed one and one- half (1.5) percent of the total bid. Twenty-five (25) percent of the bid item amount may be paid in the first application for payment and the remaining seventy-five (75) percent of the bid item amount shall be paid in the last application for payment. D. Item 1.04 - Insurance Coverage: 1. Measurement: The lump sum payment will be full compensation for providing ALL the specified insurance coverage required by the Contract Documents. 2. Payment: Fifty (50) percent of the bid item amount will be paid in the first application for payment, and the remaining fifty (50) percent of the bid item amount shall be paid for Insurance Coverage will be made when the project is complete and accepted by the OWNER E. Item 1.06 - Record Drawings and Survey Work: 1. Measurement and Payment: The lump sum payment will be full compensation, including but not limited to, all labor, materials, and equipment required to prepare project record drawings including AutoCAD work and establish and protect survey control points, replace disturbed or destroyed property monuments and survey control points, and perform construction staking. 2. Payment: Twenty-five (25) percent of the bid item amount may be paid in the first application for payment, twenty-five (25) percent may be paid at approximately the one-half way point in the construction contract, and the remaining fifty (50) percent of the bid item amount shall be paid in the last application for payment. G. Item 2.01 and 2.07 — This item is listed and generally described in Section 00310 Bid Form 1. Measurement: The lump sum payment will be full compensation for constructing all items in accordance with the Contract Documents and regulatory requirements, including but not limited to, all labor, materials, equipment, permits, cleanup, disposal of debris, transportation and maintenance during the term of the Project and startup. 2. Payment: Payment will be based on percent of bid item completed. (i.e. 10 percent of lump sum amount (less retainage) will be paid at 10 percent of earned bid item.) H. Items 2.02, 2.03, 2.04, 2.05, and 2.06 — These items are listed and generally described in Section 00310 Bid Form. 1. Measurement: The quantity of the item will be the measured amount of the Last Revised 12/2007 01025-3 Wabasso Beach Pk Restoration FAPublic Works\Cliff Suthard\Wabasso Beach Park\A Construction Bid Documents\Bid Documents as of 1-9-2008\Technical Specifications\Div 1 \01 025 - Measurement and Payment.doc