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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. fess than once each month <br /> during performance of the Work as provided in paragraph B. 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 Wor..k based on the number of units <br /> completed ) or, in the event there is no . schedule " of values,f as provided in the General <br /> Requirements : <br /> 1 . Progress payments will :be: made in ark, amount equal to , the percentage indicated <br /> below but, in each case , .less tfle aggregate :ot payrh6Ots�°;previously made and less <br /> such amounts as -ENGINEER :rnay determine or01NNER may withhold , in accordance <br /> with paragraph 14,02 of thb � General Conditions: <br /> a . Ninetyppercent (P.0 % ) 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 Paymen. tr , 11 <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 /> 00520 - 4 0016-00520 - Agreement ( Public Works) <br /> F:\Engineering\Capital Projects\0016 & 0236- 41st Street Improvements\0016 & 023641st St Contract Docs\0016.00520 - Agreement (Public Works).doc Rev. 05101 <br />