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CONTRACTOR agree that as liquidated damages for delay (but not as a penalty), CONTRACTOR shall <br />pay OWNER $1,148 for each calendar day that expires after the time specified in paragraph 3.02 for <br />completion and readiness for final payment until the Work is completed and ready for final <br />payment. <br />ARTICLE 4 - CONTRACT PRICE <br />4.01 OWNER shall pay CONTRACTOR for completion of the Work an amount in current funds equal to <br />the sum of the amounts determined pursuant to paragraph 4.01.A and summarized in paragraph <br />4.01.B, below: <br />A. For all Work, at the prices stated in CONTRACTOR's Bid, attached hereto as Exhibit 1. <br />B. THE CONTRACT SUM subject to additions and deductions provided in the Contract Documents: <br />Numerical Amount: $ <br />Written Amount: <br />ARTICLE 5 - PAYMENT PROCEDURES <br />5.01 Progress Payments. <br />A. The OWNER shall make progress payments to the CONTRACTOR on the basis of the <br />approved partial payment request as recommended by ENGINEER in accordance with the <br />provisions of the Local Government Prompt Payment Act, Florida Statutes section 218.70 et. <br />seq. The OWNER shall retain ten percent (10%) of the payment amounts due to the <br />CONTRACTOR until fifty percent (50%) completion of the work. After fifty percent (50%) <br />completion of the work is attained as certified to OWNER by ENGINEER in writing, OWNER <br />shall retain five percent (5%) of the payment amount due to CONTRACTOR until final <br />completion and acceptance of all work to be performed by CONTRACTOR under the Contract <br />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 <br />(50%) of the total cost of the construction services work purchased under the Bid and <br />Specification Documents, together with all costs associated with existing change orders and <br />other additions or modifications to the construction services work provided under the <br />Contract Documents. <br />5.02 Pay Requests. <br />A. Each request for a progress payment shall contain the CONTRACTOR'S certification. All <br />progress payments will be on the basis of progress of the work measured by the schedule <br />of values established, or in the case of unit price work based on the number of units <br />completed. After fifty percent (50%) completion, and pursuant to Florida Statutes section <br />218.735(8)(d), the CONTRACTOR may submit a pay request to the County as OWNER for <br />up to one half (1/2) of the retainage held by the County as OWNER, and the County as <br />Page 2 of 15 <br />98 <br />