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Florida Statutes section 218.70 et. seq. The OWNER shall retain ten percent <br />(10%) of the payment amounts due to the CONTRACTOR until fifty percent <br />(50%) completion of the work. After fifty percent (50%) completion of the work is <br />attained as certified to OWNER by ENGINEER in writing, OWNER shall retain <br />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 <br />the Contract Documents. Pursuant to Florida Statutes section 218.735(8)(b), fifty <br />percent (50%) completion means the point at which the County as OWNER has <br />expended fifty percent (50%) of the total cost of the construction services work <br />purchased under the Contract Documents, together with all costs associated with <br />existing change orders and other additions or modifications to the construction <br />services work provided under the Contract Documents. <br />6.03 Pay Requests. <br />A. Each request for a progress payment shall be submitted on the application provided <br />by OWNER and the application for payment shall contain the CONTRACTOR'S <br />certification. All progress payments will be on the basis of progress of the work <br />measured by the schedule of values established, or in the case of unit price work <br />based on the number of units completed. After fifty percent (50%) completion, <br />and pursuant to Florida Statutes section 218.735(8)(d), the CONTRACTOR may <br />submit a pay request to the County as OWNER for up to one half (1/2) of the <br />retainage held by the County as OWNER, and the County as OWNER shall <br />promptly make payment to the CONTRACTOR unless such amounts are the <br />subject of a good faith dispute; the subject of a claim pursuant to Florida <br />Statutes section 255.05; or otherwise the subject of a claim or demand by the <br />County as OWNER or the CONTRACTOR. The CONTRACTOR acknowledges <br />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 <br />remit payment of such retainage to those subcontractors and suppliers. Pursuant <br />to Florida Statutes section 218.735(8)(c), CONTRACTOR further acknowledges <br />and agrees that: 1) the County as OWNER shall receive immediate written <br />notice of all decisions made by CONTRACTOR to withhold retainage on any <br />subcontractor at greater than five percent (5%) after fifty percent (50%) <br />completion; and 2) CONTRACTOR will not seek release from the County as <br />OWNER of the withheld retainage until the final pay request. <br />6.04 Paragraphs 6.02 and 6.03 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 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 shall <br />be governed by the applicable grant requirements and guidelines. <br />6.05 Acceptance of Final Payment as Release. <br />A. The acceptance by the CONTRACTOR of final payment shall be and shall operate <br />as a release to the OWNER from all claims and all liability to the CONTRACTOR <br />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 <br />under this Contract and for every act and neglect of the OWNER and others <br />relating to or arising out of the work. Any payment, however, final or otherwise, <br />shall not release the CONTRACTOR or its sureties from any obligations under <br />the Contract Documents or the Public Construction Bond. <br />00520-4 <br />