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Page | 41 <br />Revised 12/24 <br /> <br />42.9.2. Add that portion of the GMP properly allocable to materials and equipment delivered and <br />suitably stored at the site for subsequent incorporation in the Work or if approved in <br />advance by the Owner, suitably stored off site at a location agreed upon in writing. <br /> <br />42.9.3. Add the CMAR’s Fee: the CMAR’s portion of the Fee for construction phase services <br />shall be an amount which bears the same ration to the fixed -sum Fee as the total payment <br />described in the two preceding clauses bears to the cost of the Work defined in the <br />Contract Documents. <br /> <br />42.9.4. Subtract the aggregate of previous payments made by the Owner. <br /> <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 /> <br />42.9.6. Subtract amounts, if any, for which the Project Designer has withheld or nullified a <br />certificate of payment. <br /> <br />42.9.7. Subtract retainage as provided below. <br /> <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 <br />is completed on or before a target date mutually agreed upon by the Owner, Project Designer and <br />the CMAR, and the Project Designer and Owner agree the Work is completed, the Owner may <br />reduce the amount of retainage on that item by fifty (50%) for the remainder of the Project. <br /> <br />42.11. In addition, the CMAR shall retain one percent (1%) of the contract sum of each or any <br />Subcontractor during the warranty period for contracts up to $ , or one half percent (1/2%) <br />with a $ minimum during the warranty period for contracts over $ . <br /> <br />42.12. Retainage in the traditional sense shall not be held on the CMAR’s Fee; the CMAR’s Fee shall be <br />paid in accordance with this paragraph, meaning the fifty percent (5 0%) of the CMAR’s Fee for <br />construction services shall be held by the Owner until satisfactory completion and close out of the <br />Project. Satisfactory completion and close out of the Project means that the Owner and Project <br />Designer are satisfied that the Project has been completed in accordance with the Construction <br />Documents and within the GMP, all general conditions of the Contract pertaining to the close out <br />have been satisfied, and all Subcontractors have satisfactorily completed their respective contrac ts. <br /> <br />42.13 Except with the Owner’s prior approval, the CMAR shall not made advance payments to suppliers <br />for material or equipment that has not been delivered and stored at the site. <br /> <br />42.14. 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 /> <br />43. CERTIFICATES OF PAYMENT AND FINAL PAYMENT <br /> <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 /> <br />Docusign Envelope ID: 5A9E3BC2-EAE1-4C35-82D9-B4D6A375FA78