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2025059 Indian River County Shooting Range Stands 3.01 COUNTY shall pay CONTRACTOR for completion of the Work an amount in current funds equal to the sum of the amounts determined pursuant to paragraph 4.01.A and summarized in paragraph 4.ol.B, below: A. For all Work, at the prices stated in CONTRACTOR's Bid, attached hereto as Exhibit 1. B. THE CONTRACT SUM subject to additions and deductions provided in the Contract Documents: Numerical Amount: $ 87.000.00 Written Amount: Eight -seven thousand dollars and zero cents ARTICLE A - PAYMENT PROCEDURES 4.01 Progress Payments. A. The COUNTY shall make progress payments to the CONTRACTOR on the basis of the approved partial payment request as recommended by ENGINEER in accordance with the provisions of the Local Government Prompt Payment Act, Florida Statutes section M8.7o et. seq. The COUNTY shall retain five percent (5%) of the payment amount due to CONTRACTOR until substantial completion and acceptance of all work to be performed by CONTRACTOR under the Contract Documents. B. For construction projects less than $io million, at the time the COUNTY is in receipt of the Certificate of Substantial Completion, the COUNTY shall have 30 calendar days to provide a list to the Contractor of items to be completed and the estimated cost to complete each item on the list. COUNTY and Contractor agree that the Contractor's itemized bid shall serve as the basis for determining the cost of each item on the list. For projects in excess of $io million, COUNTY shall have up to 45 calendar days following receipt of Certificate of Substantial Completion of the project to provide contractor with said list. C. Within 20 business days following the creation of the list, COUNTY shall pay Contractor the remaining contract balance including all retainage previously withheld by COUNTY except for an amount equal to iso% of the estimated cost to complete all of the items on the list. D. Upon completion of all items on the list, the Contractor may submit a payment request for the amount of the iso% retainage held by the COUNTY. If a good faith dispute exists as to whether one or more of the items have been finished, the COUNTY may continue to withhold the iso% of the total cost to complete such items. The COUNTY shall provide Contractor written reasons for disputing completion of the list. 4.02 Pay Requests. A. Each request for a progress payment shall contain the CONTRACTOR'S certification. All progress payments will be on the basis of progress of the work measured by the schedule of values established, or in the case of unit price work based on the number of units completed. 4.03 Paragraphs 5.oi and 5.02 do not apply to construction services work purchased by the County as COUNTY which are paid for, in whole or in part, with federal funds and are subject to federal grantor laws and regulations or requirements that are contrary to any provision of the Local Government Prompt Payment Act. In such event, payment and retainage provisions shall be governed by the applicable grant requirements and guidelines. 2