Final Benchmark. To ensure full performance of the Project, the GLO has set aside an amount equal to five percent (5%) of Subrecipient’s subaward until completion and acceptance by the GLO of all Activities and Benchmarks identified in the Performance Statement in Attachment A. The GLO shall make a final disbursement only upon receipt of documentation sufficient to determine that Subrecipient has completed the Activities in accordance with the Performance Statement, the Contract Documents, and all applicable laws, rules, and regulations.
Final Benchmark. To ensure full performance of each construction Activity and the Project, the GLO has set aside an amount up to ten percent (10%) of Developer’s direct construction costs per Activity until completion and acceptance by the GLO of all actions and tasks for the Activity, as described in Attachment A and the Progress Tracker and Construction Schedule. The GLO shall make the final disbursement to Developer only upon the GLO’s receipt and acceptance of the Milestones and tasks identified in Attachment A and the Progress Tracker and Construction Schedule as required for the completion of the construction phase.
Final Benchmark. To ensure all programmatic requirements are met for each Program, the GLO shall only release the final five percent (5%) of each Program Budget upon submittal of completion and acceptance by the GLO of all Activities and Benchmarks identified in each Program’s Performance Statement. The GLO shall disburse each Program’s retained funds within thirty (30) days following approval of each Program Completion Report and all related closeout documentation necessary to determine that Subrecipient has completed all Activities in accordance with the terms and requirements of the Performance Statement, the Contract Documents, and all applicable laws, rules, and regulations.
Final Benchmark
