Agenda - 10-19-1999 - 9a - Laserfiche WebLink

Browse Search

ARTICLE 6 FINAL PAYMENT Final payment, mnstItutIng the entire unpaid balance of the Contract Sum, shall be made by the Owner to the Contractor when (1) the Contract has been fully performed by the Contractor except for the Contractor's responsibllity to rnrrect nonconforming Work as provided in Subparagraph 12.2.2 of the General Conditions and to satisfy other requirements, if any, which necessarily survive fulai payment; and (2) a final Certificate for. Payment has been issued by the Architect; such Final payment shall be made by the Owner not more than 30 days after the issuance of the Architect's final Certificate for Payment, or as follows: ARTICLE 7 MISCELLANEOUS PROVISIONS 7.1 Where reference is made in this Agreement to a provision of the General Conditions or another Contract Document, the ref- erence refers to that provision as amended or supplemented by other provisions of the Contract Documents. 7.2 Payments due and unpaid under the Contract shall bear interest from the date payment is due at the rate stated below, or in the absence thereof, at the legal rate prevailing from time to time at the place where the Protect is located. (insert rate of interest agreed upon, ij any.) (Usury taws and requirements under the Federal Trutb in Landing Act, stmitar state and local wnsumer credit taws and otber regulations at the Owner's acrd ContraUor's principal places of business, the lotation of the ProfeU and elsewhere may ajject the validity ojtbls provision. Legal advice should be obtained with respect to deletions or modifications, and also regarding requirements such as written disclosures or waivers.] T.3 Other provisions:. None. ARTICLE 8 TERMINATION OR SUSPENSION 8.1 The Contract may be terminated by the Owner or the Contractor as provided in ArtIcie 14 of the General Conditions. 8.2 The Work may be suspended by the Owner as provided >n Article t4 of the General Conditions. AU1 DOCUMENT A101 •OWNER-CONTRACTOR AGREEMENT ~ TWELFTH EDITION ~ AIA~ • ©1987 A1O1.1987 5 THE AMERICAN INSTITUTE OF ARCHITECTS, ! 735 NEW YORK AVENUE, N W., WASHINGTON, D.C. 20006 WARNING: Unl~ensed ohotocooWrw violates U.S. copyright Isws end Is subject to legal prosecution.