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accordance with the provisions of the Local Government Prompt Payment Act, Florida <br /> Statutes section 218. 70 et. r.,eq. The OWNER shall retain ten percent ( 10% ) of the payment <br /> amounts due to the CONTRACTOR until fifty percent (50%) completion of the work. After <br /> fifty percent (50%) completion of the work is attained as certified to OWNER by ENGINEER <br /> in writing , OWNER shall retain five percent (5%) of the payment amount due to <br /> CONTRACTOR until final completion and acceptance of all work to be performed by <br /> CONTRACTOR under the Contract Documents. Pursuant to Florida Statutes section <br /> 218. 735(8)(b), fifty percent (50%) completion means the point at which the County as <br /> OWNER has expended fifty percent (50%) of the total cost of the construction services work <br /> purchased under the Contract Documents, together with all costs associated with existing <br /> change orders and other additions or modifications to the construction services work <br /> provided under the Contract Documents. <br /> 5 .2 Pay Requests. Each request for a progress payment shall be submitted on the application <br /> for payment form supplied by OWNER and the application for payment shall contain the <br /> CONTRACTOR's certification. All progress payments will be on the basis of progress of the <br /> work measured by the schedule of values established , or in the case of unit price work <br /> based on the number of units completed . After fifty percent (50%) completion , and pursuant <br /> to Florida Statutes section 218.735(8)(d), the CONTRACTOR may submit a pay request to <br /> the County as OWNER for up to one half ( 1 /2) of the retainage held by the County as <br /> OWNER, and the County as OWNER shall promptly make payment to the CONTRACTOR <br /> unless such amounts are the subject of a good faith dispute; the subject of a claim pursuant <br /> to Florida Statutes section 255. 05(2005) ; or otherwise the subject of a claim or demand by <br /> the County as OWNER or the CONTRACTOR. The CONTRACTOR acknowledges that <br /> where such retainage is attributable to the labor, services, or materials supplied by one or <br /> more subcontractors or suppliers, the Contractor shall timely remit payment of such <br /> retainage to those subcontractors and suppliers. Pursuant to Florida Statutes section <br /> 218 .735(8)(c)(2005), CONTRACTOR further acknowledges and agrees that: 1 ) the County <br /> as OWNER shall receive immediate written notice of all decisions made by CONTRACTOR <br /> to withhold retainage on any subcontractor at greater than five percent (5%) after fifty <br /> percent (50% ) completion ; and 2) CONTRACTOR will not seek release from the County as <br /> OWNER of the withheld retainage until the final pay request. <br /> 5 . 3 Paragraphs 5. 1 and 5 .2 do not apply to construction services work purchased by the County <br /> as OWNER which are paid for, in whole or in part, with federal funds and are subject to <br /> federal grantor laws and regulations or requirements that are contrary to any provision of <br /> the Local Government Prompt Payment Act. In such event, payment and retainage <br /> provisions shall be governed by the applicable grant requirements and guidelines. <br /> 5 .4 ACCEPTANCE AND FINAL PAYMENT: Upon receipt of written notice that the work is <br /> ready for final inspection and acceptance, the ENGINEER will promptly make such <br /> inspection and when the ENGINEER finds the work acceptable under the terms of the <br /> Contract and the Contract fully performed, the ENGINEER will promptly issue a final <br /> completion certificate stating that the work provided for in this Contract has been <br /> completed , and acceptance by the OWNER under the terms and the conditions thereof <br /> is recommended and the entire balance found to be due the CONTRACTOR, will be <br /> paid to the CONTRACTOR by the OWNER following County Commission approval of <br /> the final Contract payment. <br /> 5. 5 Acceptance of Final Payment as Release. The acceptance by the CONTRACTOR of <br /> final payment shall be and shall operate as a release to the OWNER from all claims and <br /> 00530-3 <br /> H\Projects\0741 \Bidding Contract Specifications\Spec Tennplate\2007\00530\Agreement between Owner Contractor Rev. <br /> 012507.doc <br />