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the County as OWNER for up to one half (112) 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 CON t RAC f -OR 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 (500%) completion; and 2) CONTRACTOR will not soek release from the County as <br />OWNER of the withheld retainage until the final pay request. <br />5.8 Paragraphs 5.' 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, wifederal Ir.rnds and are subject to <br />federal grantor laws and regulations or requirements that are contrary to any provision of the <br />Local Government Prompt Payment Act. In such event, payment and retainage provisions <br />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 ready for <br />final inspection and acceptance, the ENGINEER will promptly make such inspection and <br />when the ENGINEER finds the work acceptable under the terms of the Contract and the <br />Contract fully performed, the ENGINEER will promptly issue a final completion certificate <br />stating that the work provided for in this Contract has been comp t.:ed, anti acceptance by <br />the OWNER under the terms and the conditions thereof is recommended and the entire <br />balance found to be due the CONTRACTOR, will be paid to the CONTRACTOR by the <br />OWNER following County Commission approval of the final Contract payment. <br />5.5 Acceotance 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 otheRvise, 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 Docurnents, <br />work, site, locality, and all local conditions and laws and regulations that in any manner may <br />affect cost, progress, performance or furnishing of the work. <br />7.2 CONTRACTOR has studied carefully all reports of exploration% and testi; of subsurface <br />conditions and drawings of physical conditions which are identified in the supplcrmentafy <br />0053E-4 <br />