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6.02 Progress Payments. <br />A. The OWNER shall make progress payments to the CONTRACTOR on the basis <br />of the approved partial payment request as recommended by ENGINEER in <br />accordance with the provisions of the Local Government Prompt Payment Act, <br />Florida Statutes section 218.70 et. seq. The OWNER shall retain five percent (5%) <br />of the payment amounts due to the CONTRACTOR until substantial completion of <br />all work to be performed by CONTRACTOR under the Contract Documents. <br />B. For construction projects less than $10 million, at the time the OWNER is in receipt <br />of the Certificate of Substantial Completion, the OWNER shall have 30 calendar <br />days to provide a list to the CONTRACTOR of items to be completed and the <br />estimated cost to complete each item on the list. OWNER and CONTRACTOR <br />agree that the CONTRACTOR'S itemized bid shall serve as the basis for <br />determining the cost of each item on the list. For projects in excess of S10 million, <br />OWNER shall have up to 45 calendar days following receipt of Certificate of <br />Substantial Completion of the project to provide CONTRACTOR with said list. <br />C. Payment of Retainage - Within 20 business days following the creation of the list, <br />OWNER shall pay CONTRACTOR the remaining contract balance including all <br />retainage previously withheld by OWNER except for an amount equal to 150% of <br />the estimated cost to complete all of the items on the list. Upon completion of all <br />items on the list, the CONTRACTOR may submit a payment request for the amount <br />of the 150% retainage held by the OWNER. If a good faith dispute exists as to <br />whether one or more of the items have been finished, the OWNER may continue <br />to withhold the 150% of the total cost to complete such items. The OWNER shall <br />provide CONTRACTOR written reasons for disputing completion of the list. <br />6.03 Pay Requests. <br />A. Each request for a progress payment shall be submitted on the application <br />provided by OWNER and the application for payment shall contain the <br />CONTRACTOR'S certification. All progress payments will be on the basis of <br />progress of the work measured by the schedule of values established, or in the <br />case of unit price work based on the number of units completed. <br />6.04 Paragraphs 6.02 and 6.03 <br />do not apply to construction services work purchased by the County as OWNER which <br />are paid for, in whole or in part, with federal funds and are subject to federal grantor laws <br />and regulations or requirements that are contrary to any provision of the Local <br />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 under <br />this Contract and for every act and neglect of the OWNER and others relating to <br />or arising out of the work. Any payment, however, final or otherwise, shall not <br />Agreement (Public Works) REV 04-07 - 00520 - 4 <br />