1999 S Purchasing - Bid Award Electrical Work to make Standford Middle School Generator Ready - Pendergraph Electric Inc

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ARTICLE 4 PAYMENT 4.1 Based on Contractors Applications for Pavment certified by the Architect,the Owner shall pav the Contractor as folloxv., (Here insert payment pr x edllres and prix isions%or wl,loltge,if arty r Upon completion of project, payment in full. 4.2 Payments due and unpaid under the Contract Documents shall bear interest from the date payment is due at the rate of .or in the absence thereof,at the legal rate prevailing at the place of the Project. (Usury laws and requirements under the Federal Trntb in Lending Act.similar state and local consumer credit laws and other regulations at the Ou ners and Con tractor's principal places of business,the location of the Project and elsewhere mar affect the validity of tbis provision) ARTICLE 5 INSURANCE 5.1 The Contractor shall provide Contractor's Liability and other Insurance as follows: (been specific insurance required by the Otenert) $1 , 000, 000 Each Occurance See attached letter dated 11/15/99 $2 , 000, 000 General Aggregate 5.2 The Owner shall provide Owner's Liability and Owners Property Insurance as follows: (Insen specific insurancefurnisbed bt'the Owner.) $1 , 000, 000 Each Occurance $2, 000, 000 General Aggregate 5.3 The Contractor shall obtain an endorsement to its general liability insurance policy to cover the Contractor's obligations under Paragraph 3.12 of AIA Document A205,General Conditions of the Contract for Construction of Small Projects. 5.4 Certificates of Insurance shall be provided by each party showing their respective coverages prior to commencement of the Work. AIA DOCUMENT A105 • OWNER-CONTRACTOR AGREEME.N'l SMALL PROJECTS EDrnON•AIA'•©1993•THE AMERICAN INSHTUTF OE ARCHITECTS, 1-35 NEW YORK AVENUE,X.W.,WASHINGTON,D.C.20(X)6-5292•WARNING:Unlicensed photocopying violates U.S.copyright laws and will subject the violator to legal prosecution. A105-1993 4