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• <br /> Orange County Land Records System Page 13 <br /> 064 <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 /> satisfactory and meeting all applicable specifi- <br /> cations Hof all deliverable items required to <br /> substantiate the claimed payment. <br /> 2. A retention of five percent (5%) of the <br /> claimed porition of any phase, to be held <br /> in escrow by the COUNTY until the satis- <br /> factory conipleti©n o- the entire Phase. <br /> D. ' The COUNTY shall pay within sixty (60) days all <br /> • <br /> payMent 'claims subniitted by the CONTRACTOR, meeting all of <br /> the above reqUirements, - and hot formally disputed by the <br /> COUNTY. All payment claims not paid within siy.ty (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 clai <br /> 5 MORK—IN—PROGRESS I SPECTIONS. <br /> • <br /> The CONTRACTOR shall cooperate fully with the COUNTY <br /> or the COUNTY'S representatives in making possible <br /> • <br /> work—in—progress inspections as frequently as desired by <br /> the COUNTY. - In the event he COUNTY or its <br /> representatives filds that project work is not being <br /> performed in accordance with the applicable <br /> specifications, - then the COUNTY shall promptly notify the <br /> from ROSCOE E REEVE 15: 03: 34 22 NOV 1985 <br />