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otherwise the subject of a claim or demand by the County as OWNER or the <br /> CONTRACTOR. The CONTRACTOR acknowledges that where such retainage <br /> is attributable to the labor, services, or materials supplied by one or more <br /> subcontractors or suppliers, the Contractor shall timely remit payment of such <br /> retainage to those subcontractors and suppliers . Pursuant to Florida Statutes <br /> section 218.735(8 )(c)(2005) , CONTRACTOR further acknowledges and agrees <br /> that: 1 ) the County as OWNER shall receive immediate written notice of all <br /> decisions made by CONTRACTOR to withhold retainage on any subcontractor at <br /> greater than five percent (5%) after fifty percent (50% ) completion ; and 2) <br /> CONTRACTOR will not seek release from the County as OWNER of the <br /> withheld retainage until the final pay request. <br /> 5. 3 Paragraphs 5. 1 . 1 and 5.2 do not apply to construction services work purchased <br /> by the County as OWNER which are paid for, in whole or in part, with federal <br /> funds and are subject to federal grantor laws and regulations or requirements <br /> that are contrary to any provision of the Local Government Prompt Payment Act. <br /> In such event, payment and retainage provisions shall be governed by the <br /> applicable grant requirements and guidelines. <br /> 5.4 ACCEPTANCE AND FINAL PAYMENT : Upon receipt of written notice that the <br /> work is ready for final inspection and acceptance , the ENGINEER will promptly <br /> make such inspection and when the ENGINEER finds the work acceptable under <br /> the terms of the Contract and the Contract fully performed , the ENGINEER will <br /> promptly issue a final completion certificate stating that the work provided for in <br /> this Contract has been completed , and acceptance by the OWNER under the <br /> terms and the conditions thereof is recommended and the entire balance found <br /> to be due the CONTRACTOR, will be paid to the CONTRACTOR by the <br /> OWNER following County Commission approval of the final Contract payment . <br /> ARTICLE 6, INTEREST. <br /> Not Applicable . <br /> ARTICLE 7. CONTRACTOR'S REPRESENTATIONS . <br /> In order to induce OWNER to enter into this Agreement, CONTRACTOR makes the following <br /> representations: <br /> 7. 1 CONTRACTOR has familiarized itself with the nature and extent of the Contract <br /> Documents, work, site, locality, and all local conditions and laws and regulations <br /> that in any manner may affect cost, progress, performance or furnishing of the <br /> work. <br /> 7.2 CONTRACTOR has studied carefully all reports of explorations and tests of <br /> subsurface conditions and drawings of physical conditions which are identified in <br /> the Supplementary Conditions as provided in Paragraph 4.02 of the General <br /> Conditions, and accepts the determination set forth in Paragraph SC-4.02 of the <br /> Supplementary Conditions of the extent of the technical data contained in such <br /> reports and drawings upon which CONTRACTOR is entitled to rely. <br /> 044572007 <br /> 00530-4 <br />