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2008-247
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2008-247
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Design / Builder further warrants that upon submittal of an Application for Payment all <br /> construction for which payments have been received from the Owner shall be free and <br /> clear of liens , claims , security interests or encumbrances in favor of the Design/Builder <br /> or any other person or entity performing construction at the site or furnishing materials <br /> or equipment relating to the construction . <br /> § 5 . 1 . 8 At the time of Substantial Completion , the Owner shall pay the Design/ Builder <br /> the retainage , if any , less the reasonable cost to correct or complete incorrect or <br /> incomplete Work . Final payment of such withheld sum shall be made upon correction or <br /> completion of such Work . <br /> § 5 . 2 FINAL PAYMENTS <br /> § 5 . 2 . 1 Neither final payment nor amounts retained , if any , shall become due until the <br /> Design/Builder submits to the Owner : ( 1 ) an affidavit that payrolls , bills for materials and <br /> equipment , and other indebtedness connected with the Work for which the Owner or <br /> Owner' s property might be responsible or encumbered ( less amounts withheld by the <br /> Owner) have been paid or otherwise satisfied ; (2 ) a certificate evidencing that insurance <br /> required by the Contract Documents to remain in force after final payment is currently <br /> in effect and will not be canceled or allowed to expire until at least 30 days ' prior written <br /> notice has been given to the Owner; ( 3 ) a written statement that the Design /Builder <br /> knows of no substantial reason that the insurance will not be renewable to cover the <br /> period required by the Contract Documents ; (4 ) consent of surety , if any , to final <br /> payment; and ( 5 ) if required by the Owner , other data establishing payment or <br /> satisfaction of obligations , such as receipts , releases and waivers of liens , claims , <br /> security interests or encumbrances arising out of the Contract , to the extent and in such <br /> form as may be designated by the Owner. If a contractor or other person or entity <br /> entitled to assert a lien against the Owner' s property refuses to furnish a release or <br /> waiver required by the Owner, the Design/ Builder may furnish a bond satisfactory to the <br /> Owner to indemnify the Owner against such lien . If such lien remains unsatisfied after <br /> payments are made , the Design/ Builder shall indemnify the Owner for all loss and cost , <br /> including reasonable attorneys' fees incurred as a result of such lien . <br /> § 5 . 2 . 2 When the Work has been completed and the contract fully performed , the <br /> Design/Builder shall submit a final application for payment to the Owner , who shall <br /> make final payment in accordance with the Florida Prompt payment Act , FS § 218 . 70 et <br /> seq . withiR 30 days ef FeGeipt , <br /> § 5 . 2 . 3 The making of final payment shall constitute a waiver of claims by the Owner <br /> except those arising from : <br /> . 1 liens , claims , security interests or encumbrances arising out of the Contract <br /> and unsettled ; <br /> . 2 failure of the Work to comply with the requirements of the Contract <br /> Documents ; or <br /> . 3 terms of special warranties required by the Contract Documents . <br /> § 5 . 2 .4 Acceptance of final payment shall constitute a waiver of all claims by the <br /> Design/Builder except those previously made in writing and identified by the <br /> Design/Builder as unsettled at the time of final Application for Payment . <br /> 9 <br />
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