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allocated to that portion of the Work in the approved schedule of values, less retainage of ten percent ( 10 % ) . Pending final determination of cost to the Owner of changes in the Work, amounts not in dispute shall be included as provided in Section 7 . 3 . 8 of AIA Document A201- 11997 :A201 - 1997 , as modified : .2 Add that portion of the Contract Sum properly allocable to materials and equipment delivered and suitably stored at the site for subsequent incorporation in the completed construction (or, if approved in writing in advance by the Owner, suitably stored off the site at a location agreed upon in writing) , less retainage of ten percent ( 10010 ) ; .3 Subtract the aggregate of previous payments made by the Owner; and .4 Subtract amounts, if any, for which the Architect has withheld or nullified a Certificate for Payment as provided in Section 9 . 5 of AIA Document2 '—�;:A201 - 1997. as modified : and .5 Subtract amounts, if any, being withheld by the Owner as provided in the Contract Documents § 5. 1 .7 The progress payment amount determined in accordance with Section 5 . 1 . 6 shall be further modified under the following circumstances : .1 Add, upon the issuance of a Certificate of Substantial Completion of the Work, a sum sufficient to increase the total payments to the full amount of the Contract Sum, less s� ��ta an amount equal to two hundred percent (200%) thereof as the Architect shall determine for incomplete or defective Work, r both, and unsettled claims ; and (Seefien 9. 8. 5 4.4L4 Dec-unten; 24201 1997 requires release 4applieable r-etainage upon Substantia .2 Add, if final completion of the Work is thereafter materially delayed through no fault of the Contractor, any additional amounts payable in accordance with Section 9 . 10. 3 of AIA Document 2191 1997 . A201 - 1997 , as modified. § 5.1 . 8 Reduction or limitation of retainage, if any, shall be as follows: (if it is intended, PAO „ . Ten percent ( 10%) retainage shall be held on all payments until Substantial Completion-e€ Completion. With the eats .e WOFk to ..educe o” prior written approval by theowner. certain suppliers and subcontractors may be paid the pefeentagec insetted eeetio i. ns 5 . 1 . 6 . 1 a 5 . 1 . 6 .2 above, d a vvv�av dais-entire amount due when such a payment is not explained else he-e eg Horan the Gentr-aet Doeuments er- hefe YfeNrisiens for- sueh reduetion or li..litat T;practice of industry � ll4l[VI § 5. 1 .9 Except with the Owner' s prior written approval, the Contractor shall not make advance payments to suppliers for materials or equipment which have not been delivered and stored at the site . § 5.2 FINAL PAYMENT § 5.2. 1 Final payment, constituting the entire unpaid balance of the Contract Sum, shall be made by the Owner to the Contractor when: . 1 the Contractor has fully performed the Contract except for the Contractor' s responsibility to correct Work as provided in Section 12. 2 .2 of AIA Document A201 - 1997 , as modified, and to satisfy other requirements, if any, which extend beyond final payment; and .2 a final Certificate for Payment has been issued by the Architect. § 5.2.2 The Owner ' s final payment to the Contractor shall be made no later than 30 days after ( 1 ) the Contractor has fully performed the Contract as provided in Clause 5 .2. 1 . 1 and (2) the issuance of the Architect ' s final Certificate for Payment, eF as F-� 'wand in accordance with the Florida Prompt Payment Act, Florida Statutes section 218 .70. et sec .. AIA Document A101 Tm — 1997. Copyright ® 1915, 1918, 1925, 1937, 1951 , 1958, 1961 , 1963, 1967, 1974, 1977, 19875 1991 and 1997 by The American Institute of Architects. All rights reserved. WARNING : This AIO Document Is protected by U.S. Copyright Law and International Treaties. 4 Unauthorized reproduction or distribution of this AIA* Document, or any portion of it, may result in severe civil and criminal penalties, and will be prosecuted to the maximum extent possible under the law. This document was produced by AIA software at 14 :43:45 on 08/10/2005 under Order No. 1000192296_1 which expires on 8/8/2006 , and is not for resale. User Notes : (4215104205)