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C �- I� � <br /> TO THEAGREEMENT BETWEEN n r <br /> C r it � D / , <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 INDIAN RIVER COUNTY <br /> BID NO, 2006065 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 Files\ConlenLlE5\89EBCW9611 Amendment No. Ito JW Cheatham <br /> Agreement 04-22-08.doc <br />