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work is not completed on time . Accordingly , instead of requiring any such proof , OWNER and <br /> CONTRACTOR agree that as liquidated damages for delay ( but not as a penalty) CONTRACTOR <br /> shall pay OWNER Four Hundred and Fifty ( $450 . 00 ) for each day that expires after the time <br /> specified in Paragraph 3 . 1 for Substantial Completion , if CONTRACTOR shall neglect , refuse or <br /> fail to complete the remaining work within the Contract Time or any proper extension thereof <br /> granted by OWNER , CONTRACTOR shall pay OWNER Four Hundred and Fifty ( $ 450 . 00 ) for <br /> each day that expires after the time specified in Paragraph 3 . 1 for completion and readiness for <br /> final payment . <br /> ARTICLE 4 CONTRACT PRICE <br /> 4 . 1 . OWNER shall pay CONTRACTOR for completion of the work i accordance with the <br /> Contract Documents in current funds in the amount of $ 9 � <br /> ARTICLE 5 PAYMENT PROCEDURES <br /> 5 . 1 , General . CONTRACTOR shall submit Applications for Payment in accordance with <br /> Article 14 of the General Conditions . Applications for Payment will be processed by ENGINEER <br /> as provided in the General Conditions and the Contract Documents . <br /> 5 . 2 . Progress Payments . The OWNER shall make progress payments to the <br /> CONTRACTOR on the basis of the approved partial payment request as recommended by <br /> ENGINEER in accordance with the provisions of the Local Government Prompt Payment Act , <br /> Florida Statutes section 218 . 70 et . seq . The OWNER shall retain ten percent ( 10 %) of the <br /> payment amounts due to the CONTRACTOR until fifty percent ( 50%) completion of the work . <br /> After 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 CONTRACTOR <br /> until final completion and acceptance of all work to be performed by CONTRACTOR under the <br /> Contract Documents . Pursuant to Florida Statutes section 218 . 735 (8) ( b) , fifty percent ( 50 %) <br /> completion means the point at which the County as OWNER has expended fifty percent ( 50 % ) of <br /> the total cost of the construction services work purchased under the Contract Documents , <br /> together with all costs associated with existing change orders and other additions or modifications <br /> to the construction services work provided under the Contract Documents . <br /> 5 . 3 . Pay Requests . Each request for a progress payment shall be submitted on the <br /> application for payment form supplied by OWNER and the application for payment shall contain <br /> the 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 based on <br /> the number of units completed . After fifty percent ( 50 % ) completion , and pursuant to Florida <br /> Statutes section 218 . 735 ( 8 ) ( d ) , the CONTRACTOR may submit a pay request to the County as <br /> OWNER for up to one half ( 1 / 2 ) of the retainage held by the County as OWNER , and the County <br /> as OWNER shall promptly make payment to the CONTRACTOR unless such amounts are the <br /> subject of a good faith dispute ; the subject of a claim pursuant to Florida Statutes section <br /> 255 . 05 ( 2005 ) ; or otherwise the subject of a claim or demand by the County as OWNER or <br />the <br /> CONTRACTOR . The CONTRACTOR acknowledges that where such retainage is attributable to <br /> the labor , services , or materials supplied by one or more subcontractors or suppliers , the <br /> Contractor shall timely remit payment of such retainage to those subcontractors and suppliers . <br /> Pursuant to Florida Statutes section 218 . 735 ( 8 ) ( c) (2005 ) , CONTRACTOR further acknowledges <br /> and agrees that : 1 ) the County as OWNER shall receive immediate written notice of all decisions <br /> 00530- 3 <br />