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05/20/2019_CLC version <br />© OTIS ELEVATOR COMPANY, 2015 All Rights Reserved Page 12 of 16 <br />SECTION VIII: GENERAL REQUIREMENTS <br />PAYMENT AND SCHEDULE OF VALUES <br />You agree to be bound and pay in accordance with the supplied schedule of values. We shall be paid for our material <br />delivery invoice prior to starting work. We shall be paid in full for all change orders and the base contract amount prior <br />to turnover of the elevators to you for use. Otis reserves the right to discontinue work or not turn over elevators <br />unless payments are current. <br /> <br />Otis does not accept credit cards as a form of payment for modernization work. <br /> <br />Otis will not agree to any language referencing or implying “pay when paid.” This contract is between Otis Elevator and <br />referenced entity. The attached payment schedule (“Schedule of Values”) is not contingent upon said entity’s ability to <br />be paid by others or any other factor or event not described above. <br /> <br /> <br />Proposal Number ZXW190531160933 <br />Base Contract Amount $116,685 <br />Number of units 1 <br />Upon Issuance of <br />PO/Contract 60%70,011.00$ <br />70% <br />of Remaining Balance <br />100 % <br />of remaining balance <br />Description Value <br />Upon Delivery of <br />Material 32,671.80$ <br />Upon Substantial <br />Completion of 1st <br />elevator 14,002.20$ <br />Orange Counted Whitted Building <br />Due Date <br /> <br /> <br />DocuSign Envelope ID: 47D12065-7220-4277-A47F-FC1DAC0CA54F