Agenda - 10-19-1999 - 8c - Laserfiche WebLink

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ARTICI_F 4 PAYMENT 4.1 Based on Contractor's Applications for Payment certified by the Architect. the Owner shall pay the Contractor as liillo\ \—S (l Jere insert pnrnrent prnccvku•es ruin provisions %or retrrirrn¢r. i/'am•, r Upon completion of project, payment in full. 4.2 Payments due and unpaid under the Contract Documents shall bear interest from the date payment is due at the rate of , or in the absence thereof, at the legal rate prevailing at the place of the Project. (Usurp !arcs and requirements tatder the Federal Tnab in !.ending Act. similar state and lochl consumer credit laws and other regulations at the Owner's antel con- tractors principal places of httsiness, the location of the Project and elsewhere nu{), affect 11.7e validitY of this provision.) ARTICLE 5 INSURANCE 5.1 The Contractor shall provide Contractor's Liability and other Insurance as follows: (Insert specific insura irce required by the Owner.) $1,000,000 Each Occurance See attached letter dated 11/15/99 $2,000,000 General Aggregate 5.2 The Owner shall provide Owner's Liability and Owner's Property Insurance as follows: (Insert specific insurance fitrnished Iii, the Orener•.) $1,000,000 Each Occurance $2,000,000 General Aggregate 5.3 The Contractor shall obtain an endorsement to its general liability insurance policy to cover the Contractor's obligations under Paragraph 3.12 of AIA Document A205, General Conditions of the Contract for Construction of Small Projects. 5.4 Certificates of insurance shall be provided by each party showing their respective coverages prior to commencement of the Work. AIA DOCUMENT A105 • OWNER- CONTRACTOR AGRPEMF:NT— SMAI.I. PROJEC7:5 EDrIlON • AIA" • 01993 • 'I'1II: AMF.RlC Ati IN57Ti'U71: OP ARCtiI'rliC'1'S, 1735 NEW YOI(K AVENUE, N.W.. WASHINGTON, D.C. 20(X)6 -5292 • WARNING: Unlicensed photocopying violates U.S. copyright laws and will subject the violator to legal prosecution. A105 -1993 4