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14.07 Final Payment
<br />A. Application for Payment
<br />1. After CONTRACTOR has, in the
<br />opinion of ENGINEER, satisfactorily completed
<br />all corrections identified during the final
<br />inspection and has delivered, in accordance
<br />with the Contract Documents, all maintenance
<br />and operating instructions, schedules, guaran-
<br />tees, Bonds, certificates or other evidence of
<br />insurance certificates of inspection, marked -up
<br />record documents (as provided in paragraph
<br />6.12), and other documents, CONTRACTOR
<br />may make application for final payment follow-
<br />ing the procedure for progress payments.
<br />2. The final Application for Payment
<br />shall be accompanied (except as previously
<br />delivered) by: (i) all documentation called for in
<br />the Contract Documents, including but not
<br />limited to the evidence of insurance required by
<br />subparagraph 5.04.8.7; (ii) consent of the
<br />surety, if any, to final payment; and (iii)
<br />complete and legally effective releases or
<br />waivers (satisfactory to OWNER) of all Lien
<br />rights arising out of or Liens filed in connection
<br />with the Work.
<br />3. In lieu of the releases or waivers of
<br />Liens specified in paragraph 14.07.A.2 and as
<br />approved by OWNER, CONTRACTOR may
<br />furnish receipts or releases in full and an
<br />affidavit of CONTRACTOR that: (i) the releases
<br />and receipts include all labor, services,
<br />material, and equipment for which a Lien could
<br />be filed; and (ii) all payrolls, material and
<br />equipment bills, and other indebtedness
<br />connected with the Work for which OWNER or
<br />OWNER'S property might in any way be
<br />responsible have been paid or otherwise satis-
<br />fied. If any Subcontractor or Supplier fails to
<br />furnish such a release or receipt in full, CON-
<br />TRACTOR may furnish a Bond or other
<br />collateral satisfactory to OWNER to indemnify
<br />OWNER against any Lien.
<br />B. Review of Application and Acceptance
<br />1. If, on the basis of ENGINEER's
<br />observation of the Work during construction
<br />and final inspection, and ENGINEER's review
<br />of the final Application for Payment and
<br />accompanying documentation as required by
<br />the Contract Documents, ENGINEER is
<br />satisfied that the Work has been completed
<br />and CONTRACTOR's other obligations under
<br />the Contract Documents have been fulfilled,
<br />ENGINEER will, within ten days after receipt of
<br />the final Application for Payment, indicate in
<br />writing ENGINEER's recommendation of
<br />payment and present the Application for
<br />Payment to OWNER for payment. At the same
<br />time ENGINEER will also give written notice to
<br />OWNER and CONTRACTOR that the Work is
<br />acceptable subject to the provisions of
<br />paragraph 14.09. Otherwise, ENGINEER will
<br />return the Application for Payment to
<br />CONTRACTOR, indicating in writing the
<br />reasons for refusing to recommend final
<br />payment, in which case CONTRACTOR shall
<br />make the necessary corrections and resubmit
<br />the Application for Payment.
<br />C. Payment Becomes Due
<br />1. Thirty days after the presentation to
<br />OWNER of the Application for Payment and
<br />accompanying documentation, the amount
<br />and, when due, will be paid by OWNER to
<br />CONTRACTOR.
<br />14.08 Final Completion Delayed
<br />A. If, through no fault of CONTRACTOR, final
<br />completion of the Work is significantly delayed, and if
<br />ENGINEER so confirms, OWNER shall, upon receipt
<br />of CONTRACTOR's final Application for Payment and
<br />recommendation of ENGINEER, and without terminat-
<br />ing the Agreement, make payment of the balance due
<br />for that portion of the Work fully completed and
<br />accepted. If the remaining balance to be held by
<br />OWNER for Work not fully completed or corrected is
<br />less than the retainage stipulated in the Agreement,
<br />and if Bonds have been furnished as required in
<br />paragraph 5.01, the written consent of the surety to
<br />the payment of the balance due for that portion of the
<br />Work fully completed and accepted shall be submitted
<br />by CONTRACTOR to ENGINEER with the Application
<br />for such payment. Such payment shall be made
<br />under the terms and conditions governing final
<br />payment, except that it shall not constitute a waiver of
<br />Claims.
<br />14.09 Waiver of Claims
<br />A. The making and acceptance of final payment
<br />will constitute:
<br />1. a waiver of all Claims by OWNER
<br />against CONTRACTOR, except Claims arising
<br />from unsettled Liens, from defective Work
<br />appearing after final inspection pursuant to
<br />paragraph 14.06, from failure to comply with the
<br />Contract Documents or the terms of any special
<br />guarantees specified therein, or from
<br />CONTRACTOR's continuing obligations under
<br />the Contract Documents; and
<br />00700 - General Conditions REV 5-10-13
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