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DocuSign Envelope ID:8DBFC7C8-DFF2-4179-9582-FA3E75937570 <br /> and policies that relate to the performance of Contractor's services under this Agreement. <br /> f. If activities related to the per6oinizince of' this Agreement require specific licenses, <br /> certifications, or related credentials Contractor represents that it and/or its employees, <br /> agents and Subcontractors engaged in such activities possess such licenses, certifications, <br /> or credentials and that such licenses certifications, or credentials are current, active, and <br /> not in a state of suspension or revocation. <br /> 5. PAYMENT & TAXES <br /> a. The Owner hereby agrees to pay to the Contractor for the faithful performance of this <br /> Agreement, and the Contractor hereby agrees to perform all of the Work for a sum not-to- <br /> exceed Ninety Five Thousand Five Hundred J'hirty Five Dollars ($95,535). Not later than <br /> the fifth (5th) day of each calendar month the Contractor shall submit to the Owner's <br /> Representative, generally the architect if an architect is retained on the Work, a Request for <br /> Payment for work done during the previous calendar month, <br /> i. The Request for Payment shall be in form of a standardized invoice or AIA <br /> Document G702-703 appropriately addressed to Owner's Representative at <br /> and shall show Substantially the value of work done during the previous calendar <br /> month. <br /> ii. The amount due for payment shall be ninety-five percent (95%) of the value of <br /> work completed since the last Request for Payment and this amount shall be paid <br /> by the Owner on or before the last business day of the month. Owner shall retain <br /> five percent (5%). <br /> I. Upon Owner's Representative's certification that ninety percent (90%) of <br /> the Work has been satisfactorily completed retainage may be discontinued. <br /> Retainage may be discontinued,, at Owner's Discretion, so long as work <br /> continues to be completed satisfactorily and on schedule, <br /> iii. final payment shall not be due to the Contractor until thirty ('30) days after one <br /> hundred percent (100%) of the Work,, including punch list work, has been <br /> satisfactorily completed and an appropriate affidavit as required in Section 7(c) <br /> below has been received by Owner. <br /> b. Should Owner reasonably determine that Contractor has failed to perform the Work related <br /> to a Request for Payment, Owner, at its discretion may provide the Contractor ten. (10) <br /> days to cure the breach. Owner may withhold the accompanying payment without penalty <br /> until such time as Contractor cures the breach. <br /> i. Should Contractor or its representatives flail to cure the breach within ten (10) days, <br /> or fail to reasonably agree to such modified schedule, Owner may inn mediately <br /> terminate this Agreement in writing, without penalty or incurring further obligation <br /> to Contractor. <br /> ii. This section shall not be interpreted to limit the definition of breach to the failure to <br /> perform, the Work related to a Request, for Payment, <br /> c. The Contractor has included in the Contract Price, and shall pay all taxes assessed by any <br /> authority on the Work or the labor and materials used therein. It shall be the Contractor's <br /> responsibility to furnish the Owner documentary evidence showing the materials used and <br /> sales and use tax,paid by the Contractor and each of its subcontractors. <br /> 6. INSURANCE AND, BONDS <br /> Revised 10/14 3 <br />