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' 6 . 02 Progress Payments; Retainage A. OWNER shall make progress payments on account of the Contract Price on the basis of ' CONTRACTOR's Applications for Payment at intervals not less than once each month during performance of the Work as provided in paragraph 6 . 02 .A. 1 below. All such payments will be measured by the schedule of values established in paragraph 2 . 07 .A of ' the General Conditions (and in the case of Unit Price Work based on the number of units completed ) or, in the event there is no schedule of values , as provided in the General Requirements : ' 1 . Progress payments will be made in an amount equal to the percentage indicated below but, in each case , less the aggregate of payments previously made and less ' such amounts as ENGINEER may determine or OWNER may withhold , in accordance with paragraph 14 . 02 of the General Conditions : ' a . Ninety percent (90% ) of Work completed (with the balance being retainage ) ; and b . Eighty percent (80% ) of cost of materials and equipment not incorporated in the Work but stored on the Project site (with the balance being retainage) . 6 . 03 Final Payment ' A. Upon final completion and acceptance of the Work in accordance with paragraph 14 . 07 of the General Conditions , OWNER shall pay the remainder of the Contract Price as recommended by ENGINEER as provided in said paragraph 14 . 07 . ARTICLE 7 - INDEMNIFICATION ' 7 . 01 CONTRACTOR shall indemnify OWNER , ENGINEER , and others in accordance with paragraph 6 . 20 (Indemnification) of the General Conditions to the Construction Contract. ARTICLE 8 = CONTRACTOR' S REPRESENTATIONS 8 . 01 In order to induce OWNER to enter into this Agreement CONTRACTOR makes the following representations : A. CONTRACTOR has examined and carefully studied the Contract Documents and the tother related data identified in the Bidding Documents , B . CONTRACTOR has visited the Site and become familiar with and is satisfied as to the general , local , and Site conditions that may affect cost, progress , and performance of the ' Work . C . CONTRACTOR is familiar with and is satisfied as to all federal , state , and local Laws and ' Regulations that may affect cost , progress , and performance of the Work . D . CONTRACTOR has carefully studied all : ( 1 ) reports of explorations and tests of ' subsurface conditions at or contiguous to the Site and all drawings of physical conditions in or relating to existing surface or subsurface structures at or contiguous to the Site (except Underground Facilities ) which have been identified in the Supplementary ' Conditions as provided in paragraph 4 . 02 of the General Conditions and (2 ) reports and drawings of a Hazardous Environmental Condition , if any, at the Site which have been 0386-00520 - Agreement (Public Works) 00520 - 4 FAEngineering\Capital Projects\0386-Pelican Island Upland Restoration\0386-Pelican Island -Contract Docs\0386-00520 - Agreement (Public Works).doc Rev. 05/01