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DocuSign Envelope ID: 313DA256 -1EDE- 4396- A716- 4C53B809027E <br />JERRY M. PASSMORE CENTER ADDITION AND RENOVATION <br />HILLSBOROUGH, NORTH CAROLINA <br />SECTION 012900 - PAYMENT PROCEDURES <br />PART 1 - GENERAL <br />1.1 RELATED DOCUMENTS <br />A. Drawings and general provisions of the Contract, including General and Supplementary <br />Conditions and other Division 01 Specification Sections, apply to this Section. <br />1.2 SUMMARY <br />A. Section includes administrative and procedural requirements necessary to prepare and process <br />Applications for Payment. <br />B. Related Requirements: <br />I. Section 012600 "Contract Modification Procedures" for administrative procedures for <br />handling changes to the Contract. <br />2. Section 013200 "Construction Progress Documentation" for administrative requirements <br />governing the preparation and submittal of the Contractor's construction schedule. <br />1.3 DEFINITIONS <br />A. Schedule of Values: A statement furnished by Contractor allocating portions of the Contract <br />Sum to various portions of the Work and used as the basis for reviewing Contractor's <br />Applications for Payment. <br />1.4 SCHEDULE OF VALUES <br />A. Coordination: Coordinate preparation of the schedule of values with preparation of Contractor's <br />construction schedule. <br />Coordinate line items in the schedule of values with other required administrative forms <br />and schedules, including the following: <br />a. Application for Payment forms with continuation sheets. <br />b. Submittal schedule. <br />C. Items required to be indicated as separate activities in Contractor's construction <br />schedule. <br />2. Submit the schedule of values to Architect at earliest possible date, but no later than <br />seven days before the date scheduled for submittal of initial Applications for Payment. <br />3. Subschedules for Phased Work: Where the Work is separated into phases requiring <br />separately phased payments, provide subschedules showing values coordinated with each <br />phase of payment. <br />PAYMENT PROCEDURES 012900-1 <br />