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EM <br />ARTICLE 6 = PAYMENT PROCEDURES <br />6.01 Submittal and Processing of Payments <br />A. CONTRACTOR shall submit Applications for Payment in accordance with Article 14 of the <br />General Conditions. Applications for Payment will be processed by ENGINEER as <br />provided in the General Conditions. <br />6.02 Progress Payments; Retainage <br />A. OWNER shall make progress payments on account of the Contract Price on the basis of <br />CONTRACTOR's Applications for Payment at intervals not less than once each month <br />during performance of the Work as provided in paragraph 6.02.A.1 below. All such <br />payments will be measured by the schedule of values established in paragraph 2.07.A of <br />• the General Conditions (and in the case of Unit Price Work based on the number of units <br />completed) or, in the event there is no schedule of values, as provided in the General <br />Requirements: <br />1. Progress payments will be made in an amount equal to the percentage indicated <br />below but, in each case, less the aggregate of payments previously made and less <br />such amounts as ENGINEER may determine or OWNER may withhold, in accordance <br />with paragraph 14.02 of the General Conditions: <br />a. Ninety percent (90%) of Work completed (with the balance being retainage); and <br />b. Eighty percent (80%) of cost of materials and equipment not incorporated in the <br />Work but stored on the Project site (with the balance being retainage). <br />6.03 Final Payment <br />A. Upon final completion and acceptance of the Work in accordance with paragraph 14.07 of <br />the General Conditions, OWNER shall pay the remainder of the Contract Price as <br />recommended by ENGINEER as provided in said paragraph 14.07. <br />ARTICLE 7 - INDEMNIFICATION <br />7.01 CONTRACTOR shall indemnify OWNER, ENGINEER, and others in accordance with <br />paragraph 6.20 (Indemnification) of the General Conditions to the Construction Contract. <br />ARTICLE 8 = CONTRACTOR'S REPRESENTATIONS <br />8.01 In order to induce OWNER to enter into this Agreement CONTRACTOR makes the <br />following representations: <br />A. CONTRACTOR has examined and carefully studied the Contract Documents and the <br />other related data identified in the Bidding Documents. <br />B. CONTRACTOR has visited the Site and become familiar with and is satisfied as to the <br />general, local, and Site conditions that may affect cost, progress, and performance of the <br />Work. <br />C. CONTRACTOR is familiar with and is satisfied as to all federal, state, and local Laws and <br />Regulations that may affect cost, progress, and performance of the Work. <br />00520 - Agreement (Public Works) 2006041 <br />00520-4 <br />F:\Public Works\Capital Projects\Oslo Road Lateral J\BID DOCUMENTS 2006041\00520 -Agreement (Public Works) 2006041.doc Rev. 05/01 <br />