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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 />1.5 APPLICATIONS FOR PAYMENT <br />A. Each Application for Payment following the initial Application for Payment shall be consistent <br />with previous applications and payments as certified by Architect and paid for by Owner. <br />Initial Application for Payment, Application for Payment at time of Substantial <br />Completion, and final Application for Payment involve additional requirements. <br />B. Payment Application Times: Submit Application for Payment to Architect by the twenty -fifth <br />day of the month. The period covered by each Application for Payment is one month, ending <br />on the twentieth day of the month. <br />Submit draft copy of Application for Payment seven days prior to due date for review by <br />Architect. <br />C. Application for Payment Forms: Use AIA Document G702 and AIA Document G703 as form <br />for Applications for Payment. <br />D. Application Preparation: Complete every entry on form. Notarize and execute by a person <br />authorized to sign legal documents on behalf of Contractor. Architect will return incomplete <br />applications without action. <br />1. Entries shall match data on the schedule of values and Contractor's construction schedule. <br />Use updated schedules if revisions were made. <br />2. Include amounts for work completed following previous Application for Payment, <br />whether or not payment has been received. Include only amounts for work completed at <br />time of Application for Payment. <br />3. Include amounts of Change Orders and Construction Change Directives issued before last <br />day of construction period covered by application. <br />4. Indicate separate amounts for work being carried out under Owner - requested project <br />acceleration. <br />E. Stored Materials: Include in Application for Payment amounts applied for materials or <br />equipment purchased or fabricated and stored, but not yet installed. Differentiate between items <br />stored on -site and items stored off -site. <br />1. Provide certificate of insurance, evidence of transfer of title to Owner, and consent of <br />surety to payment, for stored materials. <br />2. Provide supporting documentation that verifies amount requested, such as paid invoices. <br />Match amount requested with amounts indicated on documentation; do not include <br />overhead and profit on stored materials. <br />3. Provide summary documentation for stored materials indicating the following: <br />a. Value of materials previously stored and remaining stored as of date of previous <br />Applications for Payment. <br />b. Value of previously stored materials put in place after date of previous Application <br />for Payment and on or before date of current Application for Payment. <br />C. Value of materials stored since date of previous Application for Payment and <br />remaining stored as of date of current Application for Payment. <br />PAYMENT PROCEDURES 012900-3 <br />