2018-325-E AMS - Bordeaux Construction Co. Northern Campus construction

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DocuSign Envelope ID: 04E136D1 -507C- 4219- BF16- 446F8D2192F8 42.2. E- VERIFY. As a condition of payment for services rendered under this Contract, CMAR shall comply with the requirements of Article 2 of Chapter 64 of the North Carolina General Statutes. CMAR shall require its Subcontractors to comply with the requirements of Article 2 of Chapter 64 of the North Carolina General Statutes as well. Upon request by Owner CMAR shall verify, by affidavit, compliance of the terms of this section. 42.3. The period covered by each application for payment shall be one calendar month ending on the last day of the month. 42.4. No advance payments or interim payments will be made by the Owner. 42.5. Provided a proper and complete application for payment is received by the Project Designer not later than the Is` day of a given month, the Owner shall make payment to the CMAR not later than the last day of the same month. If an application for payment is received by the Project Designer after the application date fixed above, payment shall be made by the Owner not later than thirty days after the Project Designer receives the application for payment. 42.6. With each application for payment for Work performed directly by the CMAR and such Subcontractors as the Owner may specify, the CMAR shall submit transaction summaries and, if requested by the Owner, payrolls, petty cash accounts, receipted invoices or invoices with check vouchers attached, and any other evidence required by the Owner or Project Designer to demonstrate that cash disbursements already made by the CMAR on account of general conditions and the Cost of the Work equal or exceed (1) progress payments already received by the CMAR less (2) that portion of those payments attributable to the CMAR's Fee; plus (3) payrolls and costs for the period covered by the present application for payment. 42.7. The CMAR shall submit a schedule of values that allocates the entire GMP among the various portions of the Work, except that the CMAR's Fee shall be shown as a separate item. The schedule of values shall be prepared in such form and supported by such data to substantiate its accuracy as the Project Designer may require. This schedule, unless objected to by the Project Designer, shall be used as a basis for reviewing the CMAR's applications for payment. The Project Designer may also use the Project critical path schedule when reviewing the CMAR's applications for payment. 42.8. Each application for payment shall be compared to the most recent schedule of values submitted by the CMAR. Applications for payment shall show the percentage completion of each portion of the Work as of the end of the period covered by the application for payment. The percentage completion shall be the percentage of that portion of the Work which has actually been completed. 42.9. Subject to other provisions of the Contract, the amount of each progress payment shall be computed as follows: 42.9.1. Take that portion of the GMP properly allocable to completed Work as determined by multiplying the percentage completion of each portion of the Work by the share of the GMP allocated to that portion of the Work in the schedule of values. 42.9.2. Add that portion of the GMP properly allocable to materials and equipment delivered and suitably stored at the site for subsequent incorporation in the Work or if approved in advance by the Owner, suitably stored off site at a location agreed upon in writing. 42.9.3. Add the CMAR's Fee: the CMAR's portion of the Fee for construction phase services shall be an amount which bears the same ration to the fixed -sum Fee as the total payment described in the two preceding clauses bears to the cost of the Work defined in the Contract Documents. 42.9.4. Subtract the aggregate of previous payments made by the Owner. Page 40 of 53 Revised 10/17