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3.2 The Contract Sum is based upon the following alternates,if any,which are described in the Contract Documents and are hereby <br /> accepted by the Owner: <br /> (State the numbers or other identification of accepted alternates.If decisions on other alternates are to be made by the Oumer subsequent to the execution of this Agreement, <br /> attach a scbedide of such other alternates showing the amount for each and the date until which that amount is valid.) <br /> None <br /> 3.3 Unit prices, if any, are as follows: <br /> As listed on proposal. <br /> ARTICLE 4 <br /> PROGRESS PAYMENTS <br /> 4.1 Based upon Applications for Payment submitted to the Architect by the Contractor and Certificates for Payment issued by the <br /> Architect, the Owner shall make progress payments on account of the Contract Sum to the Contractor as provided below and else- <br /> where in the Contract Documents.The period covered by each Application for Payment shall be one calendar month ending on the <br /> last day of the month, or as follows: <br /> 4.2 Payments due and unpaid under the Contract shall bear interest from the date payment is due at the rate stated below,or in the <br /> absence thereof, at the legal rate prevailing from time to time at the place where the Project is located. <br /> (Insert rate of interest agreed upon, if any.) <br /> (Usury laws and requirements under the Federal Truth in Lending Act,similar state and local consumer credit laws and other regulations at the Owner's and Contractor's <br /> principal places of business,the location of the Project and elsewhere may affect the validity of this provision.Legal advice sboi dd be obtained with respect to deletions or <br /> modifications,and also regarding requirements such as written disclosures or waivers.) <br /> AIA DOCUMENT A107•ABBREVIATED OWNER-CONTRACTOR AGREEMENT•NINTH EDITION•AIACI •©1987 <br /> THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, N.W., WASHINGTON, D.C. 20006 A107-1987 3 <br /> WARNING:Unlicensed photocopying violates U.S.copyright laws and is subject to legal prosecution. <br />