Agenda - 06-03-2014 - 7b - Laserfiche WebLink

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Contractor shall be responsible to see that the finished Work complies accurately with the Contract Documents. h. The Contractor shall appoint a competent Project Manager with general authority to manage the Project for the Contractor. The Contractor shall also keep on the Project at all times during the Work of the Contractor a competent Resident Superintendent and necessary assistants who shall not be replaced without prior written approval by the Designer or by the Owner if a Designer is not retained for the Project. If, in the opinion of the Designer, any Subcontractor on the Project is incompetent or otherwise unsatisfactory, such Subcontractor shall be replaced by the Contractor with no increase in the Contract Price if and when directed by the Designer. The Contractor shall attend all progress conferences and all other meetings or conferences. The Contractor shall be represented at these progress conferences by a representative having the authority of the Project Manager and by such other representatives as the Designer may direct. k. Costs and expenses of providing samples for and assistance in any testing shall be borne by the Contractor. Any Work in which untested materials are used without approval or written permission of the Owner and /or Designer shall be removed and replaced at Contractor's expense. 5. PAYMENT & TAXES a. The Owner hereby agrees to pay to the Contractor for the faithful performance of this Agreement, and the Contractor hereby agrees to perform all of the Work for a sum not -to- exceed Four Hundred Twenty Nine Thousand Five Hundred Fifty Dollars ($429,550). Not later than the fifth (5th) day of each calendar month the Contractor shall submit to the Owner's Representative, generally the Designer if a Designer is retained on the Work, a Request for Payment for work done during the previous calendar month. (i) The Request for Payment shall be in form of a standardized invoice or AIA Document G702 -703 appropriately addressed to Owner's Representative at PO Box 8181, Hillsborough NC 27278 and shall show substantially the value of work done during the previous calendar month. (ii) The amount due for payment shall be ninety -five percent (95 %) of the value of work completed since the last Request for Payment and this amount shall be paid by the Owner on or before the last business day of the month. Owner shall retain five percent (5 %) (the "Retainage "). (1) Upon Owner's Representative's certification that fifty percent (50 %) of the Work has been satisfactorily completed Retainage shall be reduced to two and one half percent (2'/z %). (2) Upon Owner's Representative's certification that ninety percent (90 %) of the Work has been satisfactorily completed Retainage may be discontinued. Retainage may be discontinued, at Owner's Discretion, so long as work continues to be completed satisfactorily and on schedule. Revised 1/14 3