Orange County NC Website
Browse       Search
DocuSign Envelope ID:C2063C1A-926C-4144-9830-38AC585A1867 <br /> of the Contractor under this Agreement, shall be considered employees or agents of the <br /> Contractor only and not of the Owner, and any and all claims that may or might arise under <br /> any workers compensation or other law or contract on behalf of said employees while so <br /> engaged shall be the sole obligation and responsibility of the Contractor. <br /> e. If activities related to the performance of this Agreement require specific licenses, <br /> certifications, or related credentials Contractor represents that it and/or its employees, <br /> agents and subcontractors engaged in such activities possess such licenses, certifications, <br /> or credentials and that such licenses certifications, or credentials are current, active, and <br /> not in a state of suspension or revocation. <br /> f. The Contractor is responsible for all physical damage to owned or rented machinery, tools, <br /> equipment, forms, and other items owned, rented or used by the Contractor and/or <br /> Subcontractor(s) in the performance of the Work including all of Owner's property in <br /> Contractor's care, custody, or control, and all such property while it is in transit. <br /> g. The Contractor is solely responsible for obtaining all permits necessary to complete the <br /> Work in compliance with all local, state, and federal laws. <br /> 5. PAYMENT & TAXES <br /> a. The Owner hereby agrees to pay to the Contractor for the faithful performance of this <br /> Agreement, and the Contractor hereby agrees to perform all of the Work for a sum not-to- <br /> exceed Eighty-Eight Thousand Dollars ($88,000.00). Not later than the fifth (5th) day of <br /> each calendar month the Contractor shall submit to the Owner's Representative, generally <br /> the architect if an architect is retained on the Work, a Request for Payment for work done <br /> during the previous calendar month. <br /> i. The Request for Payment shall be in form of a standardized invoice or AIA <br /> Document G702-703 appropriately addressed to Owner's Representative at Summit <br /> Design and Engineering, PLLC 504 Meadowlands Dr, Hillsborough, NC 27278 <br /> and shall show substantially the value of work done during the previous calendar <br /> month. <br /> ii. The amount due for payment shall be ninety-five percent (95%) of the value of <br /> work completed since the last Request for Payment and this amount shall be paid <br /> by the Owner on or before the last business day of the month. Owner shall retain <br /> five percent(5%). <br /> 1. Upon Owner's Representative's certification that ninety percent (90%) of <br /> the Work has been satisfactorily completed retainage may be discontinued. <br /> Retainage may be discontinued, at Owner's Discretion, so long as work <br /> continues to be completed satisfactorily and on schedule. <br /> iii. Final payment shall not be due to the Contractor until thirty (30) days after one <br /> hundred percent (100%) of the Work, including punch list work, has been <br /> satisfactorily completed and an appropriate affidavit as required in Section 7(c) <br /> below has been received by Owner. <br /> b. Should Owner reasonably determine that Contractor has failed to perform the Work related <br /> to a Request for Payment, Owner, at its discretion may provide the Contractor ten (10) <br /> days to cure the breach. Owner may withhold the accompanying payment without penalty <br /> until such time as Contractor cures the breach. <br /> Revised 12/18 3 <br />