Agenda - 12-11-2007-4lxtr - Laserfiche WebLink

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a} Refusal by the Designer ro certify or the Owner to pay a payment application by the CMAR for Work by the Contractor. b} Defective Wank not corrected. c) Suits, acfsons, ar claims of any character filed against the Contractor, or due to the opera#ians of the Contract6r, or information or notice that a suit, action, oi- claim will be filed ar has been made. d} Information or notice that a Subcontractor or a supplier has not received payment from the Gantractor. e) The balance unpaid of the Contract Price is insufficient to complete the Work in the judgment of the CMAR. t} Damage to the CMAR, the Owner or another contractor. g) Inability of the Contractor to meet a Completion Date, including an anticipated damages neacco dancelewith paragraphs 1 3.11 a~ndf13.12 itl~holtd SentGeneral Conditions. h} Failure to #urnish Submittal as required by the Contract Documents on a timely basis in accordance with the Submittal Register. i) Such other reason as to the CMAR may appear prudent, proper, or equitable. When ~graunds far w'sthhold'ing certification have been corrected or removed, the CMAR shah make any payment due with respect to such certification as a part of its next payment after such certification. 20.6 No certificate of payment issued or progress payment made shall constitute an acceptance of the W ark ar any part thereof: 20.7 The amount certified by the CMAR far payment shall be ninety percent (90%} of the value. of Work completed and materials stored since the CMAR's last certification as shown on the Request for payment, less any amounts not certified in accordance with paragraph 20.4, and this amount shall be paid by the CMAR on or before the last business day of the month, but payment shall not be past due if paid within fifteen (15} days thereafter. 20.8 if the Contractor's Work has progressed In accordance with the Master Schedule as of a target date rnutuafty agreed upon by the Owner, the Resigner and the CMAR, and the Contractor has provided to the CMAR the written consent of its sureties to the cessation of further percentage retention, the amount certified for payment with respect to subsequent Requests for Payment may, in the discretion of the CMAR, be one hundred percent (100°~} of the value of Wank completed and materials stored since the CMAR's Last certification as shown on the Request for payment, less any amounts not certified in accordance with paragraph 20.4; provided, however, that the aggregate of periodic payment-s shalt not exceed ninety-five percent (95%} of the Contract Price. gRTtCLE 21. FINAL PAYMlii~1Y 21.1 Final Payment shall not be due to the Contractor until Fnal Completion. 21.2 Upan Substantial Completion, the CMAR in conjunction with the Designer shall prepare and submit to the Contractor deficiency lists identifying aft portions of the Work which are JUNE 2007 ED1TtON GENERAL CONDtTtONS FOR CM A1" RfSK PROJECT 36 of 42