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ARTICLE 4. CONTRACT PRICE. <br />4.1 OWNER shall pay CONTRACTOR for completion of the work in accordance with the <br />Contract Documents in current funds in the amount of $11136.435.00. <br />ARTICLE 5. PAYMENT PROCEDURES. <br />5.1. Progress Payments. The Owner shall make progress payments to the Contractor on <br />the basis of 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. <br />5.1.1. The Owner shall retain ten percent (10%) of the payment amounts due to the <br />Contractor until fifty percent (50%) completion of the Work. After fifty percent <br />(50%) completion of the Work is attained as certified to Owner by Engineer in <br />writing, Owner shall retain five percent (5%) of the payment amount due to <br />Contractor until final completion and acceptance of all Work to be performed <br />by Contractor under the Contract Documents. Pursuant to Florida Statutes <br />section 218.735(8)(b), fifty percent (50%) completion means the point at <br />which the County as Owner has expended fifty percent (50%) of the total <br />cost of the construction services Work purchased under the Contract <br />Documents, together with all costs associated with existing change orders <br />and other additions or modifications to the construction services Work <br />provided under the Contract Documents. <br />5.2. Pay Requests. Each request for a progress payment shall be submitted on the <br />application for payment form supplied by Owner and the application for payment <br />shall contain the Contractor's certification. All progress payments will be on the <br />basis of progress of the Work measured by the schedule of values established, or in <br />the case of unit price work based on the number of units completed. After fifty <br />percent (50%) completion, and pursuant to Florida Statutes section 218.735(8)(d), <br />the Contractor may submit a pay request to the County as Owner for up to one half <br />(1/2) of the retainage held by the County, and the County shall promptly make <br />payment to the Contractor unless such amounts are the subject of a good faith <br />dispute; the subject of a claim pursuant to Florida Statutes section 255.05(2005); or <br />otherwise the subject of a claim or demand by the County or the Contractor. The <br />Contractor acknowledges that where such retainage is attributable to the labor, <br />services, or materials supplied by one or more subcontractors or suppliers, the <br />Contractor shall timely remit payment of such retainage to those subcontractors and <br />suppliers. Pursuant to Florida Statutes section 218.735(8)(c)(2005), Contractor <br />further acknowledges and agrees that: 1) the County shall receive immediate written <br />notice of all decisions made by Contractor to withhold retainage on any <br />subcontractor at greater than five percent (5%) after fifty percent (50%) completion; <br />and 2) Contractor will not seek release from the County of the withheld retainage <br />until the final pay request. <br />5.3 Paragraphs 5.1.1 and 5.2 do not apply to construction services Work purchased by <br />the County as Owner which are paid for, in whole or in part, with federal funds and <br />are subject to federal grantor laws and regulations or requirements that are contrary <br />to any provision of the Local Government Prompt Payment Act. In such event, <br />payment and retainage provisions shall be governed by the applicable grant <br />requirements and guidelines. <br />00530 EJCDC - Agreement between Owner and Contractor <br />00530-3 <br />JV5-1261RC 74th Ave Force MainUdding Contrail SPe 10ations=530 EJCDC - Agreement between Owner and Contrador do <br />