Payments and Completion. Payments may be withheld because of (1) defective work not remedied; (2) failure of contractor to make proper payments to subcontractors, workers, or suppliers; (3) persistent failure to carry out work in acceptance with this Agreement or these general conditions, or (4) legal claims. Final payment will be due after complete release of any and all liens arising out of the contract or submission of receipts or other evidence of payment covering all subcontractors or suppliers who could file such a lien. The contractor agrees to indemnify the Owner against such liens and will refund all monies including costs and reasonable attorney’s fees paid by the owner in discharging the liens. A 10 percent holdback is required by the lender to assure the work has been properly completed and there are no liens against the property.
Payments and Completion. 1. The Contract Sum stated in the Agreement, including authorized adjustments, is the total amount payable by the OWNER to the CONTRACTOR for performance of the Work under the Contract Documents.
2. Once every thirty (30) days, the CONTRACTOR shall submit an itemized Application for Payment for operations completed in accordance with the values stated in the Agreement. Such application shall be supported by such data substantiating the CONTRACTOR’s right to payment as the OWNER may reasonably require.
3. Application for Payment performed under this agreement shall be submitted as follows: Electronically via email to XxxxxxXXXxxxxxxx@XxxxxxXX.xxx Paper Copies via US Mail to: Please do not submit invoices both electronically and paper copy. In addition, and to facilitate the proper and timely payment of applications, the OWNER requires that all submitted invoices contain a valid PURCHASE ORDER NUMBER.
4. The CONTRACTOR warrants that title to all Work covered by an Application for Payment will pass to the OWNER no later than the time of payment. The CONTRACTOR further warrants that upon submittal of an Application for Payment, all Work for which Certificates for Payment have been previously issued and payments received from the OWNER shall, to the best of the CONTRACTOR’s knowledge, information and belief, be free and clear of liens, claims, security interests or other encumbrances adverse to the OWNER’s interests.
5. OWNER shall make payments, for work satisfactorily completed and accurately invoiced, on the basis of CONTRACTORs Application for Payment, within 30 days of approval by the OWNER.
6. The CONTRACTOR shall promptly pay each subcontractor and supplier out of the amount paid to the CONTRACTOR on account of such entities’ portion of the Work.
7. The OWNER shall have no responsibility for the payment of money to a subcontractor or supplier.
8. An Application for Payment, a progress payment, or partial or entire use or occupancy of the project by the OWNER shall not constitute acceptance of Work not in accordance with the requirements of the Contract Documents.
9. Substantial completion is the stage in the progress of the Work when the Work or designated portion thereof is sufficiently complete in accordance with the Contract Documents so the OWNER can occupy or utilize the Work for its intended use.
10. When the Work or designated portion thereof is substantially complete, the CONTRACTOR and OWNER shall establish responsibilities for completion an...
Payments and Completion. In consideration of the complete and timely performance of the Work, Xxxxxxx shall pay Contractor the Contract Sum of ($ ). If the Contract Documents contain an engineer’s estimate of the quantities of material required for the Work and expressly provide for an adjustment to the Contract Sum for actual quantities, the final Contract Sum will be adjusted according to actual field measurements of installed materials multiplied by the Contractor’s per unit prices. All such measurements are subject to confirmation by Xxxxxxx. In all other cases, no adjustment will be made to the Contract Sum except by approved Change Order. The terms of this paragraph shall be governed by A.R.S. § 34-221 and any amendments thereto which is hereby incorporated by reference. Upon receipt of written notice that the Work is ready for final inspection and acceptance, Xxxxxxx’x Representative shall promptly make a final inspection and, when Xxxxxxx’x Representative finds the Work acceptable under the Contract Documents, he shall promptly approve a certificate for payment stating that upon his knowledge, information and belief and on the basis of his observations and inspections, the Work has been completed in accordance with the terms and conditions of the Contract Documents and that the entire balance found to be due the Contractor is due and payable. Neither the final payment nor the retained percentage determined under A.R.S. § 34-221 shall become due until the Contractor submits to Xxxxxxx all required data establishing payment or satisfaction of all Contractor’s obligations.
Payments and Completion. 11.1. PRICES 11.2. APPLICATION FOR PAYMENT 11.3. DELAYED PAYMENTS
Payments and Completion. SCHEDULE OF VALUES Add the following Sections:
Payments and Completion. 17.1. Payments shall be made as provided in Article 3 of the Contract.
17.2. Payments may be withheld on account of (1) Defective Work not remedied or
Payments and Completion. Funds for the renovation are released per the executed draw agreement. All requests for funds should be submitted to the FHA 203K Draw Specialists assigned to the specific job. The Lender’s 203K Concierges’ Department can be reached by emailing XxxxxxxxxxXxxxxxxxxXxxxxxx@xxxx.xxx. Payments may be withheld because of: (1) defective work not remedied; (2) failure of contractor to make proper payments to subcontractors, works, or suppliers; (3) persistent failure to carry out work in accordance with this Agreement or these general conditions, or (4) legal claims. Final payment will be due after complete release of any and all liens arising out of the contract or submission of receipts or other evidence of payment covering all subcontractors or suppliers who could file such a lien. The contractor agrees to indemnify the Owner against such liens and will refund all monies including costs and reasonable attorney’s fees paid by the owner in discharging the liens. A 10% holdback is required by the lender to assure the work has been properly completed and there are no liens on the property.
Payments and Completion. 9.1 APPLICATION FOR PAYMENT 9.2 CERTIFICATES FOR PAYMENT
9.3 COMPUTATIONS OF CERTIFICATES FOR PAYMENT
9.4 DECISIONS TO WITHHOLD CERTIFICATION
9.5 [OMITED]
9.6 [OMITED]
9.7 [OMITED]
9.8 PROGRESS PAYMENTS
9.9 DATE OF SUBSTANTIAL COMPLETION
9.10 PARTIAL OCCUPANCY OR USE
9.11 FINAL COMPLETION AND FINAL PAYMENT
Payments and Completion. 11.1. PRICES 11.2. SUBMISSION OF SCHEDULE OF VALUES 11.3. APPLICATION FOR PAYMENT 11.4. PARTIAL PAYMENTS 11.5. DELAYED PAYMENTS 11.6. SUBSTANTIAL COMPLETION 11.7. FINAL COMPLETION 11.8. CORRECTION OF DEFECTIVE WORK BEFORE AND DURING WARRANTY PERIOD
Payments and Completion. For the Contractor's complete performance of the Work, the Owner agrees to pay, and the Contractor agrees to accept, subject to the terms and conditions hereof, the Contract Sum, taking into consideration any deductions based on award of a combination of alternates, if applicable, plus the amount required to be paid for Extra Work less credit for any Work omitted.
