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DocuSign Envelope ID: 04E136D1 -507C- 4219- BF16- 446F8D2192F8 <br />42.9.5. Subtract the amount, in any, by which the CMAR has been previously overpaid, as <br />evidenced by the Owner's review of the CMAR's documentation required herein or by <br />any audit of the CMAR records. <br />42.9.6. Subtract amounts, if any, for which the Project Designer has withheld or nullified a <br />certificate of payment. <br />42.9.7. Subtract retainage as provided below. <br />42.10. Except with the Owner's prior approval, payments allocated to Subcontractors shall be subject to a <br />retention of five (5 %). Whenever any item of Work indicated on the CMAR's schedule of values is <br />completed on or before a target date mutually agreed upon by the Owner, Project Designer and the <br />CMAR, and the Project Designer and Owner agree the Work is completed, the Owner may reduce <br />the amount of retainage on that item by fifty percent (50 %) for the remainder of the Project. <br />42.11. Except with the Owner's prior approval (particularly with Steel cell and security electronics), the <br />CMAR shall not make advance payments to suppliers for materials or equipment that has not been <br />delivered and stored at the site. Design specifications will emphasize procurement and storage of <br />any off -site material <br />42.12. The Project Designer shall take action on the CMAR's application for payment in accordance with <br />the agreement between the Owner and Project Designer. The Project Designer's certification for <br />payment shall be based upon the Project Designer's on -site observation and the documentation <br />submitted in accordance with this paragraph and the CMAR's application for payment. <br />43. CERTIFICATES OF PAYMENT AND FINAL PAYMENT <br />43.1. Within five (5) days from receipt of request for payment from the CMAR, the Project Designer <br />shall issue and forward to the Owner a certificate for payment. This certificate shall indicate the <br />amount requested or as approved by the Project Designer. If the certificate is not approved by the <br />Project Designer, it shall state in writing to the CMAR and the Owner its reasons for withholding <br />payment. No certificate issued or payment made shall constitute an acceptance of the Work or any <br />part thereof. <br />43.2. The Owner reserves the right, prior to making final payment to the CMAR, to conduct a final audit <br />of the expenditures by the CMAR on the Project for assurances that the final payment to the <br />CMAR does not exceed the amounts properly payable to the CMAR for the Cost of the Work, <br />General Conditions, any special allowances, and CMAR -GMP Contingency savings. In the event <br />an audit determines that the CMAR has been paid more than it is entitled to be paid under the <br />Contract, the CMAR will refund the overpayment to the Owner. <br />43.3. The making and acceptance of final payment shall constitute a waiver of all claims by the Owner <br />except: <br />43.3.1. Claims arising from unsettled liens or claims against the CMAR. <br />43.3.2. Faulty Work or materials appearing after final payment. <br />43.3.3. Failure of the CMAR to perform the Work in accordance with drawings and <br />specifications, such failure appearing after payment. <br />43.3.4. As conditioned in the performance bond and payment bond. <br />Page 41 of 53 <br />Revised 10/17 <br />