2005-381 - Laserfiche WebLink

Home Browse Search

ARTICLE 5 PAYMENTS § 5 . 1 PROGRESS PAYMENTS § 5 . 1 . 1 The Design/Builder shall deliver to the Owner itemized Applications for Payment in such detail as indicated in Article 14 . § 5 . 1 . 2 Upon the Owner's receipt of a properly submitted and correct Application for Payment, the Owner shall make payment to the Design/Builder in accordance with the Florida Prompt payment Act FS§ 218 . 70 et sec, § 5 . 1 . 3 The Application for Payment shall constitute a representation by the Design/Builder to the Owner that the design and construction have progressed to the point indicated , the quality of the Work covered by the application is in accordance with the Contract Documents , and the Design/Builder is entitled to payment in the amount requested . § 5 . 1 . 4 Upon receipt of payment from the Owner, the Design/Builder shall promptly pay the Architect , other design professionals and each contractor the amount to which each is entitled in accordance with the terms of their respective contracts . § 5 . 1 . 5 The Owner shall have no obligation under this Part 2 Agreement to pay or to be responsible in any way for payment to the Architect , another design professional or a contractor performing portions of the Work . § 5 . 1 . 6 Neither progress payment nor partial or entire use or occupancy of the Project by the Owner shall constitute an acceptance of Work not in accordance with the Contract Documents . § 5 . 1 . 7 The Design/Builder warrants that title to all construction covered by an Application for Payment will pass to the Owner no later than the time of payment . The Design/Builder further warrants that upon submittal of an Application for Payment all construction for which payments have been received from the Owner shall be free and clear of liens , claims , security interests or encumbrances in favor of the Design/Builder or any other person or entity performing construction at the site or furnishing materials or equipment relating to the construction . § 5 . 1 . 8 At the time of Substantial Completion , the Owner shall pay the Design/Builder the retainage , if any , less the reasonable cost to correct or complete incorrect or incomplete Work . Final payment of such withheld sum shall be made upon correction or completion of such Work . § 5 . 2 FINAL PAYMENTS § 5 . 2 . 1 Neither final payment nor amounts retained , if any , shall become due until the Design/Builder submits to the Owner: ( 1 ) an affidavit that payrolls , bills for materials and equipment , and other indebtedness connected with the Work for which the Owner or Owner's property might be responsible or encumbered ( less amounts withheld by the Owner) have been paid or otherwise satisfied ; (2 ) a certificate evidencing that insurance 9