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- - <br /> ' ,Orange County Land Records System . Page 13 <br /> CONTRACTOR following receipt of the items described in <br /> Section 4, A, above, subject to the following: . <br /> 1. Formal acceptance by the COUNTY -- as complete, <br /> i <br /> satisfactory and meeting all applicable specifi- <br /> cations -- of all deliverable items required to <br /> substantiate the claimed payment. <br /> 2. A retention of five percent (5%) of the <br /> claimed portion of any phase, to be held . <br /> in escrow by the COUNTY until the satis- <br /> factory completion of the entire Phase. <br /> D. The COUNTY shall pay within sixty (60) days all <br /> payment claims submitted by the CONTRACTOR, meeting all of <br /> the above requiremLnts, and not formally disputed by the <br /> COUNTY. All payment claims not paid within sixty (60) <br /> days or disputed by the COUNTY may be considered overdue <br /> by the CONTRACTOR and shall bear a monthly charge of one <br /> and one-quarter (1-1/4) percent on the unpaid amount until <br /> paid. The COUNTY shall not use the disputation of one <br /> claim as a reason for disputing or not paying in time any <br /> other payment claiT. <br /> 5 WORK-IN-PROGRESS INSPECTIONS. <br /> The CONTRACTOR shall cooperate fully with the COUNTY <br /> or the COUNTY'S representatives in making possible <br /> work-in-progress irlispections as frequently as desired by <br /> the COUNTY. It the event the COUNTY or its <br /> 1 <br /> representatives finds that project work is not being <br /> performed in accordance with the applicable <br /> specifications, t en the COUNTY shall promptly notify the <br /> from ROSCOE E REEVE 15: 03: 34 22 NOV 1985 <br />