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TO THE AGREEMENT BETWEEN i!� L� /, <br />AMENDMENT NO. 1 0 <br />INDIAN RIVER COUNTY AND J.W. CHEATHAM, LLC 00 g� pf <br />FOR CR 512, PHASE III & CR510 ROADWAY IMPROVEMEM 2 3 2008 <br />IRC PROJECT NO. 9611A & 0001 <br />BID NO, 2006065 <br />INDIAN RIVER COUNTY <br />ENGINES IVISION <br />RECD BY: <br />THIS is an amendment to the existing AGREEMENT dated April 18, 2006, between Indian <br />River County (COUNTY) and J.W. Cheatham, LLC (CONTRACTOR). This Amendment <br />addresses changes in `Article 6 — PAYMENT PROCEDURES", of the AGREEMENT. <br />FROM and after the effective date of this Amendment No. 1, Article 6 — Payment Procedures <br />of the AGREEMENT signed on April 18, 2006, be deleted in its entirety as follows: <br />ARTICLE 6 - PAYMENT PROCEDURES <br />6.01 Submittal and Processing of Payments <br />A. CONTRACTOR shall submit Applicationsfor Payment in accordance with Article 14 ofthe <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 ofvalues established in paragraph 2.07.A ofthe <br />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 />1. Progress payments will be made in an amount equal to the percentage indicated below <br />but, in each case, less the aggregate of payments previously made and less such <br />amounts as ENGINEER may determine or OWNER may withhold, in accordance with <br />paragraph 14.02 of the General Conditions: <br />a. Ninetypercent (90%) of Work completed (with the balance being retainage); <br />and <br />b. Eighty percent (80%) ofcost ofmaterials 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 />C:\Documents and Settingstmoe\Local Settings\Temporary Internet FIIes\ConlenLlE5\89EBC91M9611 Amendment No. Ito JW Cheatham <br />Agreement 04-22-08.doc <br />