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request to the County as OWNER for up to one half (1/2) of the retainage held by the <br />County as OWNER, and the County as OWNER shall promptly make payment to the. <br />CONTRACTOR unless such amounts are the subject of a good faith dispute; the subject <br />of a claim pursuant to Florida Statutes section 255.05(2005)d or otherwise the subject of a <br />claim or demand by the County as OWNER or the CONTRACTOR. The CONTRACTOR <br />acknowledges that where such retainage is attributable to the labor, services, or materials <br />supplied by one or more subcontractors or suppliers, the Contractor shall timely remit <br />payment of such retainage to those subcontractors and suppliers. Pursuant to Florida <br />Statutes section 218.735(8)(c)(2005), CONTRACTOR further acknowledges and agrees <br />that: 1) the County as OWNER shall receive immediate written notice of all decisions <br />made by CONTRACTOR to withhold retainage on any subcontractor at greater than five <br />percent (5%) after fifty percent (50%) completion; and 2) CONTRACTOR will not seek <br />release from the County as 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 <br />County as OWNER which are paid for, in whole or in part, with federal funds and are <br />subject to federal grantor laws and regulations or requirements that are contrary to any <br />provision of the Local Government Prompt Payment Act. In such event, payment and <br />retainage provisions shall be governed by the applicable grant requirements and <br />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 is <br />recommended and the entire balance found to be due the CONTRACTOR, will be paid to <br />the CONTRACTOR by the OWNER following County Commission approval of the final <br />Contract payment. <br />5.5 Acceptance of Final Payment as Release. The acceptance by the CONTRACTOR of final <br />payment shall be and shall operate as a release to the OWNER from all claims and all <br />liability to the CONTRACTOR other than claims in stated amounts as may be specifically <br />excepted by the CONTRACTOR for all things done or furnished in connection with the <br />work under this Contract and for every act and neglect of the OWNER and others relating <br />to or arising out of the work. Any payment, however, final or otherwise, shall not release <br />the CONTRACTOR or its sureties from any obligations under the Contract Documents or <br />the Payment and Performance Bonds. <br />ARTICLE 6 INTEREST <br />Not Applicable. <br />ARTICLE 7 CONTRACTOR'S REPRESENTATIONS <br />In order to induce OWNER to enter into this Agreement, CONTRACTOR makes the following <br />representations: <br />7.1 CONTRACTOR has familiarized itself with the nature and extent of the Contract <br />Documents, work, site, locality, and all local conditions and laws and regulations that in <br />any manner may affect cost, progress, performance or furnishing of the work <br />00530-4 <br />