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A. The OWNER shall make progress payments to the CONTRACTOR on the basis of <br /> 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 days <br /> to provide a list to the CONTRACTOR of items to be completed and the estimated <br /> cost to complete each item on the list. OWNER and CONTRACTOR agree that the <br /> CONTRACTOR'S itemized bid shall serve as the basis for determining the cost of <br /> each item on the list. For projects in excess of$10 million, OWNER shall have up to <br /> 45 calendar days following receipt of Certificate of Substantial Completion of the <br /> 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 the <br /> estimated cost to complete all of the items on the list. Upon completion of all items on <br /> the list,the CONTRACTOR may submit a payment request for the amount of the 150% <br /> retainage held by the OWNER. If a good faith dispute exists as to whether one or more <br /> of the items have been finished, the OWNER may continue to withhold the 150% of <br /> the total cost to complete such items. The OWNER shall provide CONTRACTOR <br /> 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 Government <br /> Prompt Payment Act. In such event, payment and retainage provisions shall be governed <br /> 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 or <br /> arising out of the work. Any payment, however, final or otherwise, shall not release <br /> the CONTRACTOR or its sureties from any obligations under the Contract <br /> Documents or the Public Construction Bond. <br /> Agreement-00520-3 <br />