Common use of APPLICATIONS FOR PROGRESS PAYMENT Clause in Contracts

APPLICATIONS FOR PROGRESS PAYMENT. 7.3.1 CM@Risk shall deliver to Design Professional (or such other person as is designated by Owner) on the last Day of each month a sworn application for progress payment in the format specified by Owner in “Exhibit C – Cost of the Work – Schedule of Values” to the Agreement. . A copy of the pay application shall be concurrently provided to Owner. Each such application for payment shall be based on the Schedule of Values and be in an amount determined by the percentage of completion of the Work in the month being billed. It shall show the percentage of completion of each category of the Work performed in the billing period. The payment application shall be accompanied (as separate documents) by (a) an updated CPM Schedule and narrative schedule update report as provided for herein, and (b) conditional lien waivers from each Subcontractor or supplier entitled to progress payment thereunder. In addition, the CM@Risk shall provide the following documentation upon specific request by Owner: a) a written accounting in a form agreed to by CM@Risk and Owner of the Cost of Work completed, b) a report by CM@Risk on Subcontractor buy-out status, contract sums, and Subcontractor pay applications, c) a copy of job cost ledger, d) a copy of timecards for all employees charged to the Project and e) a copy of Construction General Conditions invoices and purchase orders, each for the time periods periodically requested by Owner. All meal expenses included in Construction General Conditions shall be supported by a copy of the credit card receipt (if applicable) and a detailed copy of the bill, with a written list of attendees and business purpose of the meeting/meal included. 7.3.2 The CM@Risk Construction Phase Fee shall be paid monthly in accordance with the percentage of completion of the Work. The Construction General Conditions shall be paid monthly based on actual cost. The amount approved and paid for progress achieved in the month billed for shall not constitute final acceptance of the Work and is subject to final adjustment at the time of final acceptance and Final Payment so as to fully comply with, and not exceed, the GMP. 7.3.3 The Design Professional, within seven (7) days after receipt of CM@Risk application for progress payment, and no later, will either issue to Owner (a) a certificate of approval for payment of such amount as is invoiced in the payment application, or (b) specific written findings setting forth those items in detail in the estimate of the Work in the pay application that are not approved for payment under the contract. Any items that are not specifically identified by the Design Professional as not approved, with written detailed findings, shall be deemed approved. 7.3.4 As to any items not approved for payment, Owner may withhold an amount from the progress payment to be made for the time period billed for a sufficient sum to pay the expenses Owner reasonably expects to incur in correcting the deficiency set forth in the written finding issued by the Design Professional or Owner.

APPLICATIONS FOR PROGRESS PAYMENT. 7.3.1 CM@Risk XXXX Contractor shall deliver to Design Professional Project Engineer (or such other person as is designated by OwnerCPRA) on the last Day of each month a sworn an application for of progress payment in the format specified by Owner in “Exhibit C Appendix 508B – Cost of the Work – Schedule of Values” to Values in the Agreement. . A copy of the pay application shall be concurrently provided to Ownerformat specified by CPRA. Each such application for payment shall be based on the Schedule of Values and be in an amount determined by the percentage of completion of the Work in the month being billed. It shall show the percentage of completion of each category of the Work performed in the billing period. The payment application shall be accompanied (as separate documents) by (a) an by: An updated CPM Schedule and narrative schedule update report as provided for herein, and (b) conditional Conditional lien waivers from each Subcontractor or supplier subcontractor entitled to progress payment thereunder. ; and Form SAF In addition, the CM@Risk XXXX Contractor shall provide the following documentation upon specific request by OwnerCPRA: a) a A written accounting in a form agreed to by CM@Risk XXXX Contractor and Owner CPRA of the Actual Cost of the Work completed, b) a including copies of all receipts, invoices with check vouchers or other evidence of payment, payrolls, and any and all other evidence which CPRA or its designated representatives shall deem necessary to support the amount requested. This information is subject to audit and payment for these costs is dependent on CPRA’s receipt of accurate and complete records of all transactions; and A report by CM@Risk XXXX Contractor on Subcontractor subcontractor buy-out status, contract sums, and Subcontractor subcontractor pay applications, c) a and A copy of job cost ledger, d) a ; and A copy of timecards for all employees charged to the Project Project; and e) a A copy of Construction General Conditions Condition’s invoices and purchase orders, each for the time periods periodically requested by OwnerCPRA. All meal expenses included in Construction General Conditions Copies of receipts and/or invoices shall be supported by a copy provided. The Construction margin identified in Part 1 of the credit card receipt (if applicable) and Contract, shall be shown as a detailed copy separate column identifying the percent on each line item on the Schedule of Contract Values for the Project. Payment of the bill, with a written list of attendees XXXX Contractor’s margin percentage (Overhead and business purpose of the meeting/meal included. 7.3.2 The CM@Risk Construction Phase Fee Profit) shall be paid monthly calculated based on approved invoiced quantities for pay items in accordance with the schedule of values. Payments by CPRA to the XXXX Contractor shall be made as described in applicable provisions governing testing, inspection and acceptance in the special provisions or documented elsewhere in the Contact Documents. Payments for subcontractor work shall not exceed the percentage of completion Work allocated to that subcontractor for any particular work classification and shall not exceed the total value of the Worksubcontract amount. The Construction General Conditions shall be paid monthly based on actual cost. The amount approved and paid for progress achieved in the month billed for shall not constitute final XXXX Contractor's acceptance of final payment under this Contract, shall constitute a full and complete release of CPRA from any and all claims, demands, and causes of action whatsoever that XXXX Contractor, its subcontractors, suppliers and consultants or any of their successors or assigns have or may have against CPRA arising from the Work Project or any provision(s) of this Contract except for those previously made in writing and is subject to final adjustment identified by XXXX as unsettled at the time of the request for final acceptance and Final Payment so as to fully comply with, and not exceed, the GMPpayment. 7.3.3 The Design Professional, within seven (7) days after receipt of CM@Risk application for progress payment, and no later, will either issue to Owner (a) a certificate of approval for payment of such amount as is invoiced in the payment application, or (b) specific written findings setting forth those items in detail in the estimate of the Work in the pay application that are not approved for payment under the contract. Any items that are not specifically identified by the Design Professional as not approved, with written detailed findings, shall be deemed approved. 7.3.4 As to any items not approved for payment, Owner may withhold an amount from the progress payment to be made for the time period billed for a sufficient sum to pay the expenses Owner reasonably expects to incur in correcting the deficiency set forth in the written finding issued by the Design Professional or Owner.

APPLICATIONS FOR PROGRESS PAYMENT. 7.3.1 CM@Risk shall deliver to Design Professional (or such other person as is designated by Owner) on the last Day of each month a sworn application for progress payment in the format specified by Owner in “Exhibit C – Cost of the Work – Schedule of Values” to the Agreement. Agreement format as specified by Owner. A copy of the pay application shall be concurrently provided to Owner. Each such application for payment shall be based on the Schedule of Values and be in an amount determined by the percentage of completion of the Work in the month being billed. It shall show the percentage of completion of each category of the Work performed in the billing period. The payment application shall be accompanied (as separate documents) by (a) an updated CPM Schedule and narrative schedule update report as provided for herein, and (b) conditional lien waivers from each Subcontractor or supplier entitled to progress payment thereunder. In addition, the CM@Risk shall provide the following documentation upon specific request by Owner: a) a written accounting in a form agreed to by CM@Risk and Owner of the Actual Cost of the Work completed, b) a report by CM@Risk on Subcontractor buy-out status, contract sums, and Subcontractor pay applications, c) a copy of job cost ledger, d) a copy of timecards for all employees charged to the Project and e) a copy of Construction General Conditions invoices and purchase orders, each for the time periods periodically requested by Owner. All meal expenses included in Construction General Conditions shall be supported by a copy of the credit card receipt (if applicable) and a detailed copy of the bill, with a written list of attendees and business purpose of the meeting/meal included. 7.3.2 The CM@Risk Construction Phase Fee shall be paid monthly in accordance with the percentage of completion of the Work. The Construction General Conditions shall be paid monthly based on actual cost. The amount approved and paid for progress achieved in the month billed for shall not constitute final acceptance of the Work and is subject to final adjustment at the time of final acceptance and Final Payment so as to fully comply with, and not exceed, the GMP. 7.3.3 The Design Professional, within seven (7) days after receipt of CM@Risk application for progress payment, and no later, will either issue to Owner (a) a certificate of approval for payment of such amount as is invoiced in the payment application, or (b) specific written findings setting forth those items in detail in the estimate of the Work in the pay application that are not approved for payment under the contract. Any All items that are in the payment application not specifically identified by made the subject of the written detailed finding of the Design Professional as not approved, with written detailed findings, on non-approval shall be deemed approved. 7.3.4 As to any items not approved for payment, Owner may withhold an amount from the progress payment to be made for the time period billed for a sufficient sum to pay the expenses Owner reasonably expects to incur in correcting the deficiency set forth in the written finding issued by the Design Professional or OwnerOwner as to the items not approved for payment.