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Article 4 . Quantities and Prices : The OWNER shall pay the CONTRACTOR monthly progress payments , less 10 % retainage , for all work included and completed in accordance with this Contract . The CONTRACTOR shall provide a description of work completed with each pay request and may include materials stored on site but not yet installed (itemized listing of materials) . Article 5 . Acceptance and Final Payment : Final payment will be equal to ten per cent ( 10%) of the total amount of the contract and will be payable upon the issuance of The Certificate of Acceptance . When the work provided for under this contract has been completed, in accordance with the terms thereof, a final estimate showing the amount of such work shall be prepared by the CONTRACTOR, and filed with the OWNER within fifteen days after the date of completion. The Certificate of Acceptance shall not be issued until completed as-built drawings of the actual construction have been furnished to the OWNER and verified by the OWNERS representative Mr. Lynn Williams , Superintendent of Buildings and Grounds . All monies expended by the OWNER according to the terms of this contract and thereunder chargeable to the CONTRACTOR, all monies payable to the OWNER as liquidated damages , and all deductions provided by the Contract, state laws, or governing regulations shall be retained from the final payment . In accordance with the Florida Prompt Payment Act, after receipt of the final acceptance by the OWNER representative, the OWNER shall make payment to the CONTRACTOR in the full amount of the FINAL PAYMENT . PAYMENT and acceptance of such payment by the CONTRACTOR shall release the OWNER from all claims or liabilities to the CONTRACTOR in connection with this Contract .