2006-044 - Laserfiche WebLink

Home Browse Search

or dispute concerning the amount of such damages and the cost and effect of the failure of CONTRACTOR to complete the Contract on time. In addition to the above-stated liquidated damages, the CONTRACTOR shall be responsible for reimbursing OWNER for all costs incurred by OWNER to third party consultants including, without limiting the generality of the foregoing, any ENGINEER in administering the construction of the Project beyond the Substantial Completion date as specified in the Contract or beyond an approved extension of time granted to CONTRACTOR, whichever date is later. Article 3 . THE CONTRACT SUM: The COUNTY will pay the CONTRACTOR for performance of the Contract, subject to additions and deductions provided therein, in current funds as follows: Numerical Amount $ 1 , 145 ,718.70 Written Amount One Million, One Hundred Forty Five Thousand, Seven Hundred Eighteen Dollars and Seventy Cents Article 4. PAYMENT AND RETAINAGE: 4. 1 . The Owner shall make progress payments to the Contractor on the basis of the approved partial payment request as recommended by Engineer in accordance with the provisions of the Local Government Prompt Payment Act, Florida Statutes section 218.70 et. seq. at not less than monthly intervals. The request must be made to the OWNER on an approved form showing the component breakdown of the work for each item completed at the time of the request. 4.2 . The Owner shall retain ten percent ( 10%) of the payment amounts due to the Contractor until fifty percent (50%) completion of the Work. After fifty percent (50%) completion of the Work is attained as certified to Owner by Engineer in writing, Owner shall retain five percent (5%) of the payment amount due to Contractor until final completion and acceptance of all Work to be performed by Contractor under the Contract Documents. Pursuant to Florida Statutes section 218. 735(8)(b), fifty percent (50%) completion means the point at which the County as Owner has expended fifty percent (50%) of the total cost of the construction services Work purchased under the Contract Documents, together with all costs associated with existing change orders and other additions or modifications to the construction services Work provided under the Contract Documents. 4.3 . Each request for a progress payment shall be submitted on the application for payment form supplied by Owner and the application for payment shall contain the Contractor's certification. All progress payments will be on the basis of progress of the Work measured by the schedule of