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proceeding the actual to s suffered by OWNER if the work is not completed on time. Accordingly, instead of requiring any such pr of, OWNER and CONTRACTOR agree that as liquidated damages for, delay (but not as a penalty) CONTRACTOR shall pay OWNER: (a) four hundred fifty dollars ($450 .00) for each day that expires after the tim specified in Paragraph 3 . 1 for Partial Utilization of the work on the project and (b) four hundred fifty dollar 1 ($450 . 00) for each day that expires after the time specified in Paragraph 3 . 1 for Substantial Completion f the work on the project and (c) four hundred fifty dollars ($450 .00) for each day that expires after the tim specified in Paragraph 3 . 1 for completion and readiness for final payment. ARTICLE 4 CONTRACT PRICE 4. 1 OWNER shall ay CONTRACTOR for completion of the work in accordance with the Contract Documents in crrent funds in the amount of $2. 161 .000 .00. ARTICLE 5 PAYMENT PROCEDURES CONTRACTOR shall suibmit Applications for Payment in accordance with Article 14 of the General Conditions. Applications for Payment will be processed as provided in the General Conditions and the Contract Documents. The OWNER shall make progress payments to the CONTRACTOR on the 501 Progress Payme4ts . basis of the app ved partial payment request as recommended by ENGINEER in accordance with the provisions o7the Local Government Prompt Payment Act, Florida Statutes section 218 .70 et. seq. The OWNER shall retain ten percent ( 10%) of the payment amounts due to the CONTRACTOR until fifty percent (50%) completion of the work. After fifty percent (50%) completion of a work is attained as certified to OWNER by ENGINEER in writing, OWNER shall retain five percent (5%) of the payment amount due to CONTRACTOR until final completion and, acceptance f all work to be performed by CONTRACTOR under the Contract Documents . Pursuant to Flor da Statutes section 218 .735(8)(b), fifty percent (50%) completion means the point at which the C unty as OWNER has expended fifty percent (50%) of the total cost of the construction se ices work purchased under the Contract Documents, together with all costs associated with xisting change orders and other additions or modifications to the construction services work pr vided under the Contract Documents . 5 .2 Pay Requests . Each request for a ' progress payment shall be submitted on the application for payment form supplied by OWNER and the application for payment shall contain the CONTRACTO ' s certification. All progress payments will be on the basis of progress of the work measured by th schedule of values established, or in the case of unitprice work based on the number of units completed. After fifty percent (50%) completion, and pursuant to Florida Statutes section 218 .735($)(d), the CONTRACTOR may submit a pay request to the County as OWNER for up to one half ( � /2) of the retainage held by the County as OWNER, and the County as OWNER shall promptly ake payment to the CONTRACTOR unless such amounts are the subject of a good faith dispute; th subject of a claim pursuant to Florida Statutes section 255 .05 (2005); or otherwise the subject of claim or demand by the County as OWNER or the CONTRACTOR. The CONTRACTO acknowledges that where such retainage is attributable to the labor, services, or materials supplied by one or more subcontractors or suppliers, the Contractor shall timely remit payment of sucl i retainage to those subcontractors and suppliers . Pursuant to Florida Statutes section 218 .735 ( )(c)(2005), CONTRACTOR further acknowledges and agrees that: 1 1 ) the County as OWNER sha 1 receive immediate written notice of all decisions made by CONTRACTOR to withhold retainsa on any subcontractor at greater than five percent (5%) after fifty percent (50%) completion; and 2) CONTRACTOR will not seek release from the County as OWNER of the 00530-3 VRB