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ARTICLE 6 - PAYMENT PROCEDURES <br /> 6 . 01 Submittal and Processing of Payments <br /> A. CONTRACTOR shall submit Applications for Payment in accordance with Article 14 of the <br /> General Conditions. Applications for Payment will be processed by ENGINEER as <br /> provided in the General Conditions. <br /> 6. 02 Progress Payments; Retainage <br /> A. OWNER shall make progress payments on account of the Contract Price on the basis of <br /> CONTRACTOR's Applications for Payment at intervals not less than once each month <br /> during performance of the Work as provided in paragraph 6. 02.A. 1 below. All such <br /> payments will be measured by the schedule of values established in paragraph 2.07 .A of <br /> the General Conditions (and in the case of Unit Price Work based on the number of units <br /> completed) or, in the event there is no schedule of values, as provided in the General <br /> Requirements : <br /> r <br /> 1 . Progress payments will be made in an amount equal to the percentage indicated <br /> below but, in each case, less the aggregate of payments previously made and less <br /> such amounts as ENGINEER may determine or OWNER may withhold , in accordance <br /> with paragraph 14 . 02 of the General Conditions: <br /> a . Ninety percent (90% ) of Work completed (with the balance being retainage) ; and <br /> b. Eighty percent (80%) of cost of materials and equipment not incorporated in the <br /> Work but stored on the Project site (with the balance being retainage) . <br /> 6. 03 Final Payment <br /> A. Upon final completion and acceptance of the Work in accordance with paragraph 14. 07 of <br /> the General Conditions , OWNER shall pay the remainder of the Contract Price as <br /> recommended by ENGINEER as provided in said paragraph 14. 07 . <br /> ARTICLE 7 - INDEMNIFICATION <br /> 7 . 01 CONTRACTOR shall indemnify OWNER , ENGINEER, and others in accordance with <br /> paragraph 6. 20 (Indemnification) of the General Conditions to the Construction Contract. <br />.. ARTICLE 8 - CONTRACTOR' S REPRESENTATIONS <br /> 8. 01 In order to induce OWNER to enter into this Agreement CONTRACTOR makes the <br /> ., following representations : <br /> A. CONTRACTOR has examined and carefully studied the Contract Documents and the <br /> other related data identified in the Bidding Documents . <br /> B . CONTRACTOR has visited the Site and become familiar with and is satisfied as to the <br /> general , local , and Site conditions that may affect cost, progress , and performance of the <br /> Work. <br /> C . CONTRACTOR is familiar with and is satisfied as to all federal , state, and local Laws and <br /> Regulations that may affect cost , progress, and performance of the Work. <br /> 0209-00520 - Agreement (Public Works).doc <br /> E:\Engineering\capitelProleasW20SL4th Street Bridge Over Coach D1tchW2094th Street Bridge Over Cooch 07-20-06\020940520 - Agreement (Public Works)docRev. <br />+ 05101 - 4 - <br />