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Prompt Payment Act. In such event, payment and retainage provisions shall be governed by the <br />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 when the <br />ENGINEER finds the work acceptable under the terms of the Contract and the Contract fully <br />performed, the ENGINEER will promptly issue a final completion certificate stating that the work <br />provided for in this Contract has been completed, and acceptance by the OWNER under the terms and <br />the conditions thereof is recommended and the entire balance found to be due the CONTRACTOR, <br />will be paid to the CONTRACTOR by the OWNER following SWDD Board approval of the final <br />Contract payment. <br />5.5 Acceptance of Final Payment as Release. The acceptance by the CONTRACTOR of final payment <br />shall be and shall operate as a release to the OWNER from all claims and all liability to the <br />CONTRACTOR other than claims in stated amounts as may be specifically excepted by the <br />CONTRACTOR for all things done or furnished in connection with the work under this Contract and <br />for every act and neglect of the OWNER and others relating to or arising out of the work. Any <br />payment, however, final or otherwise, shall not release the CONTRACTOR or its sureties from any <br />obligations under the Contract Documents or 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 Documents, work, <br />site, locality, and all local conditions and laws and regulations that in any manner may affect cost, <br />progress, performance or furnishing of the work. <br />7.2 CONTRACTOR has studied carefully all reports of explorations and tests of subsurface conditions <br />and drawings of physical conditions which are identified in the Supplementary Conditions as <br />provided in Paragraph 4.02 of the General Conditions as amended by the Supplementary Conditions, <br />and accepts the determination set forth in Paragraph SC -4.02 of the Supplementary Conditions of the <br />extent of the technical data contained in such reports and drawings upon which CONTRACTOR is <br />entitled to rely. <br />7.3 CONTRACTOR has obtained and carefully studied (or assumes responsibility for obtaining and <br />carefully studying) all such examinations, investigations, explorations, tests, reports and studies (in <br />addition to or to supplement those referred to in Paragraph 7.2 above) which pertain to the subsurface <br />or physical conditions at or contiguous to the site or otherwise may affect the cost, progress, <br />performance or furnishing of the work as CONTRACTOR considers necessary for the performance of <br />furnishing of the work at the Contract Price, within the Contract Time and in accordance with the <br />other terms and conditions of the Contract Documents, including specifically the provisions of <br />Paragraph 4.02 of the General Conditions; and no additional examinations, investigations, <br />explorations, tests, reports, studies or similar information or data are or will be required by <br />CONTRACTOR for such purposes. <br />Agreement <br />00530-4 <br />