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for payment form supplied by OWNER and the application for payment shall contain the <br /> CONTRACTOR's certification. All progress payments will be on the basis of progress of <br /> the work measured by the schedule of values established , or in the case of unit price work <br /> based on the number of units completed . After fifty percent (50%) completion , and <br /> pursuant to Florida Statutes section 218.735(8)(d), the CONTRACTOR may submit a pay <br /> request to the County as OWNER for up to one half ( 1 /2) of the retainage held by the <br /> County as OWNER, and the County as OWNER shall promptly make payment to the <br /> CONTRACTOR unless such amounts are the subject of a good faith dispute; the subject <br /> of a claim pursuant to Florida Statutes section 255 .05(2005); or otherwise the subject of a <br /> claim or demand by the County as OWNER or the CONTRACTOR. The CONTRACTOR <br /> acknowledges that where such retainage is attributable to the labor, services, or materials <br /> supplied by one or more subcontractors or suppliers, the Contractor shall timely remit <br /> payment of such retainage to those subcontractors and suppliers. Pursuant to Florida <br /> Statutes section 218.735(8)(c)(2005), CONTRACTOR further acknowledges and agrees <br /> that: 1 ) the County as OWNER shall receive immediate written notice of all decisions <br /> made by CONTRACTOR to withhold retainage on any subcontractor at greater than five <br /> percent (5% ) after fifty percent (50% ) completion ; and 2) CONTRACTOR will not seek <br /> release from the County as OWNER of the withheld retainage until the final pay request. <br /> 5. 3 Paragraphs 5. 1 and 5.2 do not apply to construction services work purchased by the <br /> County as OWNER which are paid for, in whole or in part, with federal funds and are <br /> subject to federal grantor laws and regulations or requirements that are contrary to any <br /> provision of the Local Government Prompt Payment Act. In such event, payment and <br /> retainage provisions shall be governed by the applicable grant requirements and <br /> guidelines. <br /> 5.4 ACCEPTANCE AND FINAL PAYMENT: Upon receipt of written notice that the work is ready <br /> for final inspection and acceptance, the ENGINEER will promptly make such inspection and <br /> when the ENGINEER finds the work acceptable under the terms of the Contract and the <br /> Contract fully performed , the ENGINEER will promptly issue a final completion certificate <br /> stating that the work provided for in this Contract has been completed , and acceptance by the <br /> OWNER under the terms and the conditions thereof is recommended and the entire balance <br /> found to be due the Contractor, will be paid to the Contractor by the OWNER following County <br /> Commission approval of the final Contract payment. <br /> 5. 5 Acceptance of Final Payment as Release . The acceptance by the CONTRACTOR of final <br /> payment shall be and shall operate as a release to the OWNER from all claims and all <br /> liability to the CONTRACTOR other than claims in stated amounts as may be specifically <br /> excepted by the CONTRACTOR for all things done or furnished in connection with the work <br /> under this Contract and for every act and neglect of the OWNER and others relating to or <br /> arising out of the work . Any payment, however, final or otherwise , shall not release the <br /> CONTRACTOR or its sureties from any obligations under the Contract Documents or the <br /> Payment and Performance Bonds. <br /> ARTICLE 6 INTEREST <br /> Not Applicable . <br /> 00530-4 <br /> F:1Utilities%UTILITY - ENGINEERING\Projects - Utility Construction Permits\IRC - SR 60 66th Ave. to 82nd Ave. Utility Conflict <br /> Resolutions UCP#30261A1 - 00530 COMPLETED Agreement between Owner Contractor Rev 061807.doc <br />