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per-tion 0 .5—.3 Subtract the shortfall , if any, indicated by the Construction Manager in the documentation required by Section 7 . 1 .4 to substantiate prior Applications for Payment, or resulting from errors subsequently discovered by the Owner ' s accountants in such documentation . 96—, Subtract amounts , if any, for which the Architect has withheld or nullified a Certificate for Payment as provided in Section 9 . 5 of A291TM�rA201TM- 1997, as modified . .5 Subtract amounts, if any, being withheld by the Owner as provided in the Contract Documents .6 § 7.1 .8 Exeept with the Oywfief ' s prior approval , payments to Subeentfactors shaR be subjeet te retention of not less than ( ) . The Owner- and the C=enstfuetion Manager- shall agree upen a fatitually aeeeptable pfeeedufe fef fevi&Ar and approval ef payments and retention fef subeentr-aets . § 7. 1 .9 Except with the Owner ' s prior written approval, the Construction Manager shall not make advance payments to suppliers for materials or equipment which have not been delivered and stored at the site . § 7. 1 . 10 In taking action on the Construction Manager' s Applications for Payment, the Architect and the Owner shall be entitled to rely on the accuracy and completeness of the information furnished by the Construction Manager-and shall not be deenied to f epfesent that the Arehiteet has Faade a detailed examination, audit ef ar-it-hmetie ver-ifieation of Hhe d-o- eumentation submitted in aeoor-danee with Seetion 7 . 1 . 4 of: other suppeffing data, that the Arehitect has made exhaustive or- eentin - pections or- that the Ar-ehiteet has made e*aminatians to aseeftain how e fef what purposes the Con.stfuetien Manag.er- has used afneants previously paid. sen Aeeount- of the Centfaet. Such examinations, audits and verifielifiens , if Fequir-ed by the Owner-, will be peFfer-Fned by th.e Owner- ' s aeeountants an__ting in the sole interest of the n .. ,ne Manager. § 7 .2 FINAL PAYMENT § 7.2. 1 Final payment shall be made by the Owner to the Construction Manager when ( 1 ) the Contract has been fully performed by the Construction Manager except for the Construction Manager' s responsibility to correct nonconforming Work, as provided in Section 12 . 2 . 2 of A201 TM- 1997 , and-as modified , and to satisfy other requirements , if any, which necessarily survive final payment ; (2) a final Application for Payment and a final accounting for the Cost of the Work have been submitted by the Construction Manager and reviewed by the Owner' s accountants ; and (3 ) a final Certificate for Payment has then been issued by the ^hitea-,-Architect for the Owner' s approval : such final payment shall be made by the Owner not more than 340-25 days after the issuanee Owner' s approval of the Architect' s final Certificate for Payment, or- as folio ssPayment along with proper evidence showing that all suppliers and sub-contractors have been paid and such request has been presented to reviewed and approved by the Board of County Commissioners . § 7.2.2 The amount of the final payment shall be calculated as follows : . 1 Take the sum of the Cost of the Work substantiated by the Construction Manager' s final accounting and the Construction Manager' s Fee, but not more than the Guaranteed Maximum Price . .2 Subtract amounts, if any, for which the Architect or Owner withholds, in whole or in part, a final Certificate for Payment as provided in Section 9 .5 . 1 of A201TM '— °�9 A201TM- 1997 , as modified or other provisions of the Contract Documents , .3 Subtract the aggregate of previous payments made by the Owner. If the aggregate of previous payments made by the Owner exceeds the amount due the Construction Manager, the Construction Manager shall reimburse the difference to the Owner. § 7.2.3 eke-UUon the Owner ' s direction, the Owner ' s accountants will review and report in writing on the Construction Manager ' s final accounting within 30 days after delivery of the final accounting to the Architect by the Construction Manager. Based upon such Cost of the Work as the Owner ' s ams Accountants report to be substantiated by the Construction Manager' s final accounting, and provided the other conditions of Section 7 .2 . 1 have been met, the Architect will , within seven days after receipt completion of the written report of the Owner' s accountants , either issue to the Owner a final Certificate for Payment with the Construction Manager or notify the Construction Manager and Owner in writing of the Architect' s and Owner ' s reasons for withholding a AIA Document A121 TT"CMc — 2003 and AGC Document 565. Copyright © 1991 and 2003 by The American Institute of Architects and The Associated General Contractors of America. All rights reserved. WARNING : This document is protected by U.S. Copyright Law and International Treaties. 17 Unauthorized reproduction or distribution of this 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 17 :00 :26 on 05/25/2005 under Order No. 10001263131 which expires on 6/29/2005, and is not for resale. User Notes: (3163795107)