Common use of Progress Payments Clause in Contracts

Progress Payments. All applications for payment ("Invoices"), in form acceptable to Owner, shall include a complete description of the labor and materials supplied, and the work done during the period covered by the Invoice (the "Invoice Period"). All Invoices shall be accompanied by (i) a list of all suppliers and subcontractors whose materials or services have been utilized by Contractor to perform the work described in the Invoice, and (ii) signed waivers of and releases from any claim of lien, or stop notice that could be asserted by such suppliers, subcontractors and Contractor as a result of the work performed during the Invoice Period. Each Invoice will be accompanied by certified statements from each supplier and subcontractor (1) indicating the total amount due them as a result of the work performed during the Invoice Period, (2) acknowledging that Contractor may or may not (in the Owner’s sole discretion) be paid by means of a joint check prepared based upon such certified statements, and (3) agreeing that such supplier's or subcontractor's negotiation of any such check shall be its representation that it has been timely and fully paid for work performed through the end of the Invoice Period. Such certified statements shall be in the form prescribed by the laws of the state in which the Job Site is located, or if no such prescribed form exists, in substantially the form attached hereto as Exhibit A. Contractor agrees to furnish, if and when required by Owner, payroll affidavits, receipts, vouchers, releases of claims for labor, material and subcontractors performing work or furnishing material under this Agreement, all in form satisfactory to Owner. Subject to the payment provisions of this Agreement, ninety percent (90%) of the amount set forth in the Invoices shall be paid in any calendar month upon payment of the progress payment for such month to Contractor. Invoices shall not be submitted more frequently than monthly, and shall include all charges made since the preceding Invoice Period.

Progress Payments. All applications A. When monthly progress payments are authorized, the Contractor shall, on the date established by the Owner, submit to the Owner an itemized application for payment, on forms provided by the Owner, and supported by such data substantiating the Contractor's right to payment, as the Owner may require. B. If payments are to be authorized on account of Materials, and Equipment not incorporated in the Work, but delivered and suitably stored at the site which are necessary for the orderly prosecution of the Work, the Contractor shall furnish with his application for payment ("Invoices")bills of sale, bills of lading, invoices or such other evidence as may be appropriate and satisfactory to the Owner that establishes: 1. Actual cost, including transportation to the site, of such Materials, and Equipment; 2. Titles thereof in form acceptable Owner's name, upon payment; 3. Appropriate insurance coverage to protect the Owner's interest therein upon payment. C. The Contractor warrants that title to all Materials, and Equipment covered by an application for payment, whether incorporated into the Work or not, shall pass to the Owner, shall include a complete description upon receipt of payment by the Contractor. The Contractor further warrants that upon submittal of an application for payment all Work for which payment has been received from the Owner shall, to the best of the labor Contractor’s knowledge, information and materials suppliedbelief, be free and the work done during the period covered by the Invoice (the "Invoice Period"). All Invoices shall be accompanied by (i) a list clear of all suppliers and subcontractors whose materials liens, claims, security interests or services have been utilized by Contractor to perform encumbrances in favor of the work described in the InvoiceContractor, and (ii) signed waivers of and releases from any claim of lienSubcontractors, suppliers, or stop notice other persons or entities making a claim by reason of having provided labor, Materials or Equipment relating to the Work; and that could be asserted by such suppliersMaterials, subcontractors and Contractor as a result or Equipment furnished or installed comply with the applicable requirements of the work performed during the Invoice Period. Each Invoice will be accompanied by certified statements from each supplier and subcontractor (1) indicating the total amount due them as a result Contract Documents. D. The passing of the work performed during the Invoice Period, (2) acknowledging that Contractor may or may not (in the Owner’s sole discretion) be paid by means of a joint check prepared based upon such certified statements, and (3) agreeing that such supplier's or subcontractor's negotiation of any such check shall be its representation that it has been timely and fully paid for work performed through the end of the Invoice Period. Such certified statements shall be in the form prescribed by the laws of the state in which the Job Site is located, or if no such prescribed form exists, in substantially the form attached hereto as Exhibit A. Contractor agrees to furnish, if and when required by Owner, payroll affidavits, receipts, vouchers, releases of claims for labor, material and subcontractors performing work or furnishing material under this Agreement, all in form satisfactory to Owner. Subject title to the payment provisions of this Agreement, ninety percent (90%) of the amount set forth in the Invoices shall be paid in any calendar month upon payment of the progress payment for such month to Contractor. Invoices Owner as herein provided shall not be submitted more frequently than monthlyconstrued as relieving the Contractor of the sole and complete responsibility for: 1. The care and protection of the Work, Materials and Equipment, for which payment has been made. 2. The restoration of any damaged or destroyed Work, Materials, or Equipment. Such responsibility shall continue until all Work under the Contract has been completed and accepted by the Owner. E. Owner shall make progress payments on account of the Contract Price on the basis of Contractor's application for progress payments and shall make payment to Contractor within thirty (30) Days after the application for payment is approved by the Owner. All such payments will be measured by the schedule of values established in the Contract Documents (and in the case of unit price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the Special Conditions. Prior to Substantial Completion, progress payments will be made in an amount up to the percentages indicated below, but in each case, less the aggregate of payments previously made and less such amounts as Owner may withhold in accordance with General Conditions, Section 44 Payment Withheld: 1. Ninety five (95) percent of the Work complete (with the balance being retainage). If the Work has been fifty (50) percent completed as determined by the Owner, and if the character and progress of the Work have been satisfactory to the Owner, Owner may determine that as long as the character and progress of the Work remain satisfactory to it, there will be no additional retainage except as provided by the General Conditions for state law. 2. Ninety five (95) percent (with the balance being retainage) of Materials and Equipment not incorporated in the Work, but delivered, suitably stored and accompanied by documentation satisfactory to the Owner as provided by the Contract Documents. Pursuant to Section 00-00-000, C.R.S., et. seq., Contractor may substitute acceptable securities for the whole or any portion of the retainage. F. Under no circumstances shall include payment constitute a waiver of the Owner's right to require the Contractor to fulfill all charges made since of the preceding Invoice Periodterms and conditions of this Contract.

Progress Payments. All applications A. When monthly progress payments are authorized, the Contractor shall, on the date established by the Owner, submit to the Owner an itemized application for payment, on forms provided by the Owner, and supported by such data substantiating the Contractor's right to payment, as the Owner may require. B. If payments are to be authorized on account of Materials, and Equipment not incorporated in the Work, but delivered and suitably stored at the site which are necessary for the orderly prosecution of the Work, the Contractor shall furnish with his application for payment ("Invoices")bills of sale, bills of lading, invoices or such other evidence as may be appropriate and satisfactory to the Owner that establishes: 1. Actual cost, including transportation to the site, of such Materials, and Equipment; 2. Titles thereof in form acceptable Owner's name, upon payment; 3. Appropriate insurance coverage to protect the Owner's interest therein upon payment. C. The Contractor warrants that title to all Materials, and Equipment covered by an application for payment, whether incorporated into the Work or not, shall pass to the Owner, shall include a complete description upon receipt of payment by the Contractor. The Contractor further warrants that upon submittal of an application for payment all Work for which payment has been received from the Owner shall, to the best of the labor Contractor’s knowledge, information and materials suppliedbelief, be free and the work done during the period covered by the Invoice (the "Invoice Period"). All Invoices shall be accompanied by (i) a list clear of all suppliers and subcontractors whose materials liens, claims, security interests or services have been utilized by Contractor to perform encumbrances in favor of the work described in the InvoiceContractor, and (ii) signed waivers of and releases from any claim of lienSubcontractors, suppliers, or stop notice other persons or entities making a claim by reason of having provided labor, Materials or Equipment relating to the Work; and that could be asserted by such suppliersMaterials, subcontractors and Contractor as a result or Equipment furnished or installed comply with the applicable requirements of the work performed during the Invoice Period. Each Invoice will be accompanied by certified statements from each supplier and subcontractor (1) indicating the total amount due them as a result Contract Documents. D. The passing of the work performed during the Invoice Period, (2) acknowledging that Contractor may or may not (in the Owner’s sole discretion) be paid by means of a joint check prepared based upon such certified statements, and (3) agreeing that such supplier's or subcontractor's negotiation of any such check shall be its representation that it has been timely and fully paid for work performed through the end of the Invoice Period. Such certified statements shall be in the form prescribed by the laws of the state in which the Job Site is located, or if no such prescribed form exists, in substantially the form attached hereto as Exhibit A. Contractor agrees to furnish, if and when required by Owner, payroll affidavits, receipts, vouchers, releases of claims for labor, material and subcontractors performing work or furnishing material under this Agreement, all in form satisfactory to Owner. Subject title to the payment provisions of this Agreement, ninety percent (90%) of the amount set forth in the Invoices shall be paid in any calendar month upon payment of the progress payment for such month to Contractor. Invoices Owner as herein provided shall not be submitted more frequently than monthlyconstrued as relieving the Contractor of the sole and complete responsibility for: 1. The care and protection of the Work, Materials and Equipment, for which payment has been made. 2. The restoration of any damaged or destroyed Work, Materials, or Equipment. Such responsibility shall continue until all Work under the Contract has been completed and accepted by the Owner. E. Owner shall make progress payments on account of the Contract Price on the basis of Contractor's application for progress payments and shall make payment to Contractor within thirty (30) Days after the application for payment is approved by the Owner. All such payments will be measured by the schedule of values established in the Contract Documents (and in the case of unit price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the Special Conditions. Prior to Substantial Completion, progress payments will be made in an amount equal to the percentages indicated below, but in each case, less the aggregate of payments previously made and less such amounts as Owner may withhold in accordance with General Conditions, Section 44 Payment Withheld: 1. Ninety (90) percent of the Work complete (with the balance being retainage). If the Work has been fifty (50) percent completed as determined by the Owner, and if the character and progress of the Work have been satisfactory to the Owner, Owner may determine that as long as the character and progress of the Work remain satisfactory to it, there will be no additional retainage except as provided by the General Conditions for state law. 2. Ninety (90) percent (with the balance being retainage) of Materials and Equipment not incorporated in the Work, but delivered, suitably stored and accompanied by documentation satisfactory to the Owner as provided by the Contract Documents. Pursuant to Section 00-00-000, C.R.S., et. seq., Contractor may substitute acceptable securities for the whole or any portion of the retainage. F. Under no circumstances shall include payment constitute a waiver of the Owner's right to require the Contractor to fulfill all charges made since of the preceding Invoice Periodterms and conditions of this Contract.

Progress Payments. All applications The Design-Builder shall submit Application for payment ("Invoices")Payment for work performed in accordance with Article 8 of the General Conditions. The period covered by each Application shall be one calendar month ending on the last day of the month. Each Application for Payment shall be based on the most recent Schedule of Values submitted by the Design-Builder in accordance with the Contract Documents and shall be prepared in such form and supported by such data to substantiate its accuracy. The schedule, in form acceptable unless objected to Ownerby the Agency, shall include be used as a complete description basis for reviewing the Design-Builder’s Applications for Payment. The Schedule of Values shall allocate the entire Contract Sum among the various portions of the labor Work and materials supplied, and indicate the work done during percentage of completion of each portion of the Work as of the end of the period covered by the Invoice (Application for Payment. Agency shall make progress payments on account of the "Invoice Period"). All Invoices shall be accompanied by (i) a list Contract Price on the basis of all suppliers and subcontractors whose materials or services Design-Builder’s Applications for Payment, provided that such Applications for Payment have been utilized by Contractor to perform submitted in a timely manner and otherwise meet the work described in the Invoice, and (ii) signed waivers of and releases from any claim of lien, or stop notice that could be asserted by such suppliers, subcontractors and Contractor as a result requirements of the work performed during the Invoice Period. Each Invoice will be accompanied by certified statements from each supplier and subcontractor (1) indicating the total amount due them as a result of the work performed during the Invoice Period, (2) acknowledging that Contractor may or may not (in the Owner’s sole discretion) be paid by means of a joint check prepared based upon such certified statements, and (3) agreeing that such supplier's or subcontractor's negotiation of any such check shall be its representation that it has been timely and fully paid for work performed through the end of the Invoice Period. Such certified statements shall be in the form prescribed by the laws of the state in which the Job Site is located, or if no such prescribed form exists, in substantially the form attached hereto as Exhibit A. Contractor agrees to furnish, if and when required by Owner, payroll affidavits, receipts, vouchers, releases of claims for labor, material and subcontractors performing work or furnishing material under this Agreement, all in form satisfactory to OwnerContract. Subject to other provisions of the Contract Documents and subject to S.C. Code Xxx. § 12-8-550 (Withholding Requirements for Payments to Non-Residents), the amount of each progress payment shall be computed as follows: The portion of the Contract Sum properly allocable to completed Work, multiplied by the percentage completion of each portion of the Work in the Schedule of Values; Add that portion of the Contract Sum properly allocable to materials and equipment delivered and suitably stored at the site for subsequent incorporation in the completed construction, or, if approved in advance by the Agency, suitably stored off the site at a location agreed upon in writing; Add that portion of Construction Change Directives that the Agency determines to be reasonably justified. Less the aggregate of ay amounts previously paid by the Agency; Less the amount, if any, for Work that remains uncorrected and for which the Agency has previously withheld a Certificate for Payment as provided in Article 8 of the General Conditions; Less the amount, if any, for which the Design-Builder does not intend to pay a Subcontractor or material supplier, unless the Work has been performed by others the Design-Builder intends to pay; Less the amount, if any, for which the Agency has withheld or nullified a Certificate for Payment in whole or in part as provided in Section 8.6 of the General Conditions; and Less Retainage withheld pursuant to Section 5.1.5 The progress payment amount determined in accordance with Section 5.1.3 shall be further modified under the following circumstances: Upon Substantial Completion of the Work, the Agency shall pay a sum sufficient to increase the total payments to the full amount of the Contract Sum, less such amounts as the Agency shall determine for incomplete Work, retainage applicable to such work and unsettled claims; and If Final Completion of the Work is thereafter materially delayed through no fault of the Design-Builder, the Agency may be required to pay additional amounts in accordance with Section 8.11.3 of the General Conditions. For each progress payment made prior to Substantial Completion of the Work, the Agency may withhold three and one-half percent (3.5%), as retainage, from the payment otherwise due. When a portion, or division, of Work as listed in the schedule of values is 100% complete, that portion of the retained funds which is allocable to the completed division must be released to the Design-Builder. Upon release by the Agency, the Design-Builder shall within ten (10) days of receipt, release to the subcontractor responsible for the completed work the full amount of retention. Upon Substantial Completion of the Work, the Design-Builder may submit an Application for Payment that includes the retainage withheld from prior Applications for Payment pursuant to this Section 5.1.5. Notwithstanding the provisions above, no retainage shall be withheld with respect to the portion of this Agreementa payment application pertaining to engineering, ninety design, and other professional services. No payment for materials incorporated into the work will be made if the designer of record or Agency approvals have not been obtained. Compensation for Design Professional Services shall be based on the approval of completed documents at each phase of service as follows: Schematic Design Phase percent (   %) Design Development Phase percent (   %) Construction Documents Phase percent (   %) Total Basic Compensation percent (90100%) Upon Final Completion and acceptance of the amount set forth Work in the Invoices shall be paid in any calendar month upon payment accordance with Article 8 of the progress payment General Conditions, Agency shall pay the remainder of the Contract Sum when: the Design-Builder has fully performed the Contract except for such month the Design-Builder’s responsibility to Contractor. Invoices shall not be submitted more frequently than monthlycorrect Work as provided in Article 11 of the General Conditions and to satisfy other requirements, if any, which extend beyond final payment; and shall include all charges made since a final Certificate for Payment has been approved by the preceding Invoice PeriodAgency.

Progress Payments. All applications The Contractor may submit invoices for ----------------- progress payment ("Invoices"), in form acceptable to Owner, shall include a complete description of the labor and materials supplied, and the work done no more than once each month or no less than once each calendar quarter for Work performed during the period covered by the Invoice (the "Invoice Period")such period. All Invoices shall be accompanied by (i) a list addressed to NYSERDA, "Attention: Accounts Payable." Such invoices shall make reference to the Agreement number shown on the upper right hand corner of all suppliers page one of the Agreement. Invoices shall set forth total project costs incurred. These shall be broken down into NYSERDA's Funding share and subcontractors whose materials or services have been utilized by Contractor to perform into the work described in the InvoiceCost-Share and other Cofunding share, and (ii) signed waivers of and releases from any claim of lien, or stop notice that could be asserted by such suppliers, subcontractors and Contractor as a result of the work performed during the Invoice Period. Each Invoice will be accompanied by certified statements from each supplier and subcontractor (1) indicating the total amount due them as a result of the work performed during the Invoice Period, (2) acknowledging that Contractor may or may not (in the Owner’s sole discretion) be paid by means of a joint check prepared based upon such certified statements, and (3) agreeing that such supplier's or subcontractor's negotiation of any such check shall be its representation that it has been timely and fully paid for work performed through the end of the Invoice Period. Such certified statements they shall be in a format consistent with the form prescribed cost categories set forth in the Budget. Invoices shall provide reasonable documentation for the above to provide evidence of costs incurred, including: (a) Staff charges: for each employee, the name, title, number of hours worked, hourly rate and labor extension; (b) Direct charges: all direct costs shall be itemized on the invoice and supported by the laws documentation, such as vendor invoices, travel vouchers or other documentation; and (c) Indirect charges: indirect cost rates and method by which rates are applied. The Contractor shall be notified by NYSERDA in accordance with Section 5.04.4 (b)(2) of the state in which the Job Site is locatedNYSERDA's Prompt Payment Policy Statement, or if no such prescribed form exists, in substantially the form attached hereto as Exhibit A. D, of any such information or documentation which the Contractor agrees to furnish, if did not include with such invoice. In accordance with and when required by Owner, payroll affidavits, receipts, vouchers, releases of claims for labor, material and subcontractors performing work or furnishing material under this Agreement, all in form satisfactory to Owner. Subject subject to the payment provisions of this Agreementsuch Exhibit D, ninety percent (NYSERDA shall pay to the Contractor, within the prescribed time after receipt of an invoice for a progress payment, 90%) % of NYSERDA's share of the amount set forth in so requested, unless NYSERDA should determine that any such payment or any part thereof is otherwise not properly payable pursuant to the Invoices shall be paid in any calendar month upon payment terms of the progress payment for such month to Contractor. Invoices shall not be submitted more frequently than monthly, and shall include all charges made since Agreement or the preceding Invoice PeriodBudget.

Progress Payments. All applications for payment ("Invoices"), in form acceptable to Owner, shall include a complete description 3.3.1 The remaining amount of the labor and materials supplied, and the work done during the period covered by the Invoice (the "Invoice Period"). All Invoices Purchase Price shall be accompanied by (i) a list of all suppliers and subcontractors whose materials or services have been utilized by Contractor to perform the work described in the Invoice, and (ii) signed waivers of and releases from any claim of lien, or stop notice that could be asserted by such suppliers, subcontractors and Contractor as a result of the work performed during the Invoice Period. Each Invoice will be accompanied by certified statements from each supplier and subcontractor (1) indicating the total amount due them as a result of the work performed during the Invoice Period, (2) acknowledging that Contractor may or may not (in the Owner’s sole discretion) be paid by means the Purchaser to the Supplier pursuant to the Payment Schedule set forth on Exhibit B attached hereto (the “Payment Schedule”). Upon completion of a joint check prepared based upon such certified statementseach of the milestones for the Project set forth on Exhibit B attached hereto, and (3) agreeing that such supplier's or subcontractor's negotiation the corresponding portion of any such check the Purchase Price shall be its representation that it has been timely due and fully paid for work performed through payable to Supplier as set forth on Exhibit B attached hereto (each, a “Progress Payment”). (a) Purchaser shall pay the end Down Payment and each Progress Payment to Supplier in United States Dollars and in immediately available funds to the account of the Invoice Period. Such certified statements shall be in the form prescribed by the laws of the state in which the Job Site is locatedSupplier, or if no such prescribed form existsidentified on Exhibit I. Should Purchaser fail to make any Progress Payment when due, in substantially the form attached hereto as Exhibit A. Contractor agrees addition any other remedy available to furnish, if and when required by Owner, payroll affidavits, receipts, vouchers, releases of claims for labor, material and subcontractors performing work or furnishing material Supplier under this Agreement, all or otherwise, (i) Supplier may enforce the Guaranty as set forth in form satisfactory Section 3.5 pursuant to Owner. Subject its terms; (ii) such overdue amount shall bear interest until paid in full at the Default Rate, and (iii) Supplier may, without prejudice to any other rights or remedies it may have under this Agreement, stop its performance hereunder until the payment provisions overdue amount and interest thereon is paid in full. (b) Provided that Supplier has duly performed or is reasonably performing its obligations hereunder and irrespective of any other term of this Agreement, ninety and provided that any delay in obtaining the Project Completion Certificate within six (6) months after Delivery of the last Major Turbine Component by Supplier for the Project is not caused solely by Supplier or any of Supplier’s Affiliates or subcontractors, one hundred percent (90100%) of the amount set forth in Purchase Price, subject to the Invoices retention of the applicable Punch List Retainage, shall be paid in any calendar month upon payment by Purchaser to Supplier no later than six months after Delivery of the progress payment last Major Turbine Component by Supplier for such month to Contractor. Invoices shall not be submitted more frequently than monthly, and shall include all charges made since the preceding Invoice PeriodProject.

Progress Payments. All applications for payment ("Invoices")7.1 Payments on account of the Contract Price will be made monthly as Work progresses, as evidenced by the percent complete identified in form acceptable to Ownerthe Schedule of Values, as submitted with each Payment Application. Payment Applications, covering labor, material, equipment, supplies, and other items completed, delivered or suitably stored on site during a period ending on the last calendar day of each month, shall include a complete description be submitted to the DP and the Owner by the Contractor on the Owner’s Contractor Payment Application Form (FS #11) within five (5) days after end of the labor and materials suppliedperiod. Payment Applications shall be notarized, shall be supported by such data substantiating the Contractor's right to payment as the Owner or the DP may require, and the work done during the period covered by the Invoice (the "Invoice Period")reflect retainage, if any, as is provided. All Invoices payments shall be accompanied by (i) a list of all suppliers and subcontractors whose materials subject to any offset or services have been utilized by Contractor to perform the work described in the Invoice, and (ii) signed waivers of and releases from any claim of lien, or stop notice that could be asserted by such suppliers, subcontractors and Contractor as a result retainage provisions of the work performed during Contract. 7.2 Each payment made to the Invoice Period. Each Invoice will Contractor shall be accompanied by certified statements from each supplier and subcontractor (1) indicating on account of the total amount due them payable to the Contractor, and title to all Work covered by a paid partial payment shall thereupon pass to the Owner. Nothing in this section shall be construed as relieving the Contractor from the sole responsibility for care and protection of materials and Work upon which payments have been made, for restoration of any damaged Work, or as a result waiver of the right of the Owner to require fulfillment of all terms of Contract Documents. 7.3 The Design Professional, within seven (7) days after receipt of Contractor 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. All items in the payment application not made the subject of the written detailed finding of the Design Professional on non-approval shall be deemed approved. 7.4 The issuance of a Certificate for Payment will constitute a representation by the DP to the Owner, based on DP’s observations at the site and the data comprising the Application for Payment, that the Work is in accordance with the Contract Documents (subject to an evaluation of the Work for conformance with the Contract Documents upon Substantial Completion, to the results of any subsequent tests required by or performed under the Contract Documents, to minor deviations from the Contract Documents correctable prior to completion, and to any specific qualifications stated in his certificate); and that the Contractor is entitled to payment in the amount certified. However, by issuing a Certificate of Payment, the DP shall not thereby be deemed to represent that the DP has made any examination to ascertain how or for what purpose the Contractor has used the monies previously paid on account of the Contract Price. 7.5 Payment may be withheld in whole or in part to protect the Owner on account of: a) Unsatisfactory job progress as determined by the Owner. b) Defective Work or materials not remedied. c) Disputed Work or materials. d) Claims or other encumbrances filed or reasonable evidence indicating probable filing of claims or other encumbrances by Subcontractors or Suppliers, or others. e) Failure of the Contractor to make payment to Subcontractors or Suppliers within seven (7) days after receipt of each progress payment. f) A reasonable doubt as determined by the Owner that the Work can be completed for the unpaid balance of the Contract Price or within the Contract Time. g) The Contractor's failure to perform any of its contractual obligations under the Contractor Documents, or any other agreement with the Owner. h) Deficiencies or claims asserted by Owner against Contractor arising from any other project. 7.6 Within fourteen (14) days following the receipt of the Design Professional certificate of approval for payment and the written detailed findings of items not approved, if any, the Owner shall pay the amount due on the progress payment application to the Contractor. However, the payment shall be limited to 90% of the value approved of the construction work performed in place and for materials suitably stored in accordance with Section 7.8 below of these General Conditions during the Invoice Periodmonth being billed. The remaining 10% shall be retained by the Owner until the Contract is 50% complete at which time the retainage shall be reduced, at the Owner’s discretion, to no more than 5%; provided that: (2a) acknowledging that the Contractor may or may not is making satisfactory progress on the Contract; and (b) in the Owner’s sole discretionjudgment, there is no specific cause or claim requiring a greater amount than 5% to be retained. Thereafter, the Owner shall pay the Contractor 95% of the value of the construction work and materials on approved progress xxxxxxxx, unless and until it determines satisfactory progress is not being made, at which time the 10% Retainage may be reinstated. Such 10% reinstatement would be 10% of the total contract value of construction work in place and materials stored. The Owner’s determination concerning the satisfactory progress of the Work for retainage adjustments purposes shall be final. 7.7 Within sixty (60) calendar days after the issuance of the Certificate of Final Completion and receipt by Owner of all other documents required from Contractor by the Contract Documents, all retained amounts shall be paid by means to Contractor as part of a joint check prepared based upon such certified statementsFinal Payment provided however; a) the Final Payment shall not become due from Owner until the Contractor delivers to the Owner all items per Section 8.2.2 requirements, including full and final unconditional releases in statutory form from all Subcontractors and major Suppliers acknowledging their having received payment in full. Any claim filed thereafter shall be the responsibility of the Contractor, and (3b) agreeing that such supplier's or subcontractor's negotiation of if any such check shall be its representation that it has been timely and fully paid for work performed through the end of the Invoice Period. Such certified statements shall be in the form prescribed by the laws of the state in which the Job Site is located, or if no such prescribed form exists, in substantially the form attached hereto as Exhibit A. Contractor agrees to furnish, if and when required claim does remain unsatisfied after all payments are made by Owner, payroll affidavitsthe Contractor shall immediately upon demand refund to the Owner all monies that the latter may be compelled to pay in discharging such unsatisfied claim including all costs, receiptsinterest and attorneys’ fees. 7.8 Payment for on-site and off-site materials. Progress Payment shall be made when due to Contractor on account of materials and equipment delivered and suitably stored at the Site for subsequent incorporation in the Work. Payment may be similarly made to Contractor for materials and equipment suitably stored off the Site, vouchersconditioned upon the Contractor furnishing satisfactory evidence to the Owner that (a) title to the materials and equipment will pass to the Owner upon payment for same; and (b) there are no claims of third parties; and (c) the materials and equipment are adequately insured for full replacement value plus delivery; and (d) such other matters as the Owner may reasonably request in order to protect its interests. 7.9 If any payment on account of the Contract Price is not made within thirty (30) days and without just cause, releases interest shall thereafter accrue on the unpaid principal balance at the minimum rate allowed by state law (A.R.S. § 44-1201) on the due date. 7.10 The Contractor warrants that title to all construction work included in an Application for Progress Payment shall pass to the Owner no later than the time of claims payment therefore. The Contractor further warrants and represents to Owner that upon submittal of an Application for Payment, all construction work for which Applications 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 encumbrances in favor of the Contractor, its Subcontractors, material suppliers, or other persons or entities making a claim by reason of having provided labor, material materials and subcontractors performing work or furnishing material under this Agreement, all in form satisfactory to Owner. Subject equipment relating to the payment provisions of this Agreement, ninety percent (90%) of the amount set forth in the Invoices shall be paid in any calendar month upon payment of the progress payment for such month to Contractor. Invoices shall not be submitted more frequently than monthly, and shall include all charges made since the preceding Invoice PeriodWork.

Progress Payments. All applications for payment ("Invoices")12.3.1 On or about the twenty-fifth day of each calendar month during the course of construction, in form acceptable the Contractor shall submit to Owner, shall include a complete description of the labor and materials supplied, Architect and the Owner an itemized Application for Payment supported by such data substantiating the Contractor's right to payment as the Owner or the Architect may require. The Contractor shall also submit a release of claim and lien waiver covering all work done during performed to date, including the period covered by the Invoice (the "Invoice Period"). All Invoices work of each Subcontractor, laborer and material supplier. 12.3.2 Payments shall be accompanied by (i) a list of all suppliers and subcontractors whose materials or services have been utilized by Contractor to perform based on the work described in the Invoice, and (ii) signed waivers of and releases from any claim of lien, or stop notice that could be asserted by such suppliers, subcontractors and Contractor as a result of the work actually performed during the Invoice Periodpreceding calendar month. Each Invoice will Payment may be accompanied made for materials not incorporated in the Work but delivered and suitably stored at the site, or at some other location under such conditions agreed upon in writing by certified statements from each supplier the Architect and subcontractor (1) indicating the total amount due them as Owner to be transported to the site and installed at a result later date. 12.3.3 Material delivered and suitably stored at the site, or at some other agreed upon location by the Contractor, Subcontractors, Sub-subcontractors or material suppliers shall remain the responsibility of the work performed during Contractor until incorporated into the Invoice PeriodWork, (2) acknowledging shall be insured for the benefit of the Owner, the Contractor and Subcontractor to the full value of the material and shall be suitably stored and protected. Only such material that is in accordance with the Contract Documents shall be installed into the Work. Until the final completion and acceptance of the Work by the Owner, it shall be the Contractor's responsibility to protect all materials to be installed in or delivered to the Project. 12.3.4 The Contractor may or may not (warrants and guarantees that title for all Work, materials and equipment covered by an Application for Payment shall pass to the Owner either by incorporation in the Owner’s sole discretion) be paid Project or upon receipt of payment by means of a joint check prepared based upon such certified statementsthe Contractor, whichever occurs first, and (3) agreeing that such supplier's or subcontractor's negotiation of any such check work, materials and equipment shall be its representation that it has been timely free and fully paid clear of all liens, claims, security interests or encumbrances, hereinafter referred to in this Article 12 as "claims," except for work performed through the end claims arising out of the Invoice Period. Such certified statements shall be in the form prescribed by the laws of the state in which the Job Site is located, or if no such prescribed form exists, in substantially the form attached hereto Owner's failure to pay as Exhibit A. Contractor agrees to furnish, if and when required by Owner, payroll affidavits, receipts, vouchers, releases of claims for labor, material and subcontractors performing work or furnishing material under this Agreement, all in form satisfactory to Owner. Subject to the payment provisions of this Agreement, ninety percent (90%) of the amount set forth in the Invoices shall be paid in any calendar month upon payment of the progress payment for such month to Contractor. Invoices shall not be submitted more frequently than monthly, and shall include all charges made since the preceding Invoice Periodherein.

Progress Payments. All applications Payment to Contractor of the Contract Price shall be made as follows: 6.2.1 By the tenth (10th) day of each month, Contractor shall submit an invoice to Owner for payment the Cost of the Work for Work performed during the preceding month plus the G&A Fee and Base Fee. Such Contractor's invoice shall clearly specify the Networks which it relates to and provide documentation, as required by Owner, to substantiate the Cost of the Work. Contractor shall not invoice Owner for any amount, such as retainage, which Contractor does not intend to pay to Subcontractors or Vendors upon receipt. Invoices shall be addressed to the following person and location or shall be deemed invalid: Todd Xxxxxxxxxxxx Contracts Manager Level 3 Communications, LLC 14020 Xxxxxx Xxxx Xxxxxxx Xxxxxx, Xxxxxxxx 00000 With each invoice, Contractor shall include a conditional lien waiver for amounts payable to Contractor ("Invoices"exclusive of Subcontractors' and Vendors' costs). 6.2.2 Contractor shall submit with each such invoice a Construction Certificate describing in sufficient detail for independent verification, all approved materials to which it holds title and which were obtained in the preceding month, the Work that has been invoiced, and stating that such Work has been performed in compliance with the requirements of this Contract. The Construction Certificate shall be in a form acceptable to Owner. The 6.2.3 Owner shall promptly notify Contractor concerning any invoiced amount which is in dispute and any Work which Owner believes was not performed in accordance with the Contract (all such Work and invoiced amounts in respect thereof shall be deemed in dispute until otherwise agreed). Owner shall pay Contractor the amount then payable and not in dispute within fifteen (15) Days after receipt by Owner of Contractor's invoice, shall include a complete description of the labor and materials supplied, all required supporting information and the work done during related Construction Certificate, which fifteenth (15th) day shall be the period covered by the Invoice date payment is due (the "Invoice PeriodPayment Date"). All Invoices . 6.2.4 Failure by Owner to pay any amount in dispute shall be accompanied by (i) a list not alleviate, diminish or modify in any respect Contractor's obligation to achieve Final Acceptance of all suppliers and subcontractors whose materials or services have been utilized by Contractor to perform the work described in the InvoiceWork, and (ii) signed waivers of and releases from any claim of lien, Contractor shall not cease or stop notice that could be asserted by such suppliers, subcontractors and Contractor as a result of the work performed during the Invoice Period. Each Invoice will be accompanied by certified statements from each supplier and subcontractor (1) indicating the total amount due them as a result of the work performed during the Invoice Period, (2) acknowledging that Contractor may or may not (in the Owner’s sole discretion) be paid by means of a joint check prepared based upon such certified statements, and (3) agreeing that such supplier's or subcontractor's negotiation slow down its performance hereunder on account of any such check amount. 6.2.5 Amounts not paid by Owner by the Payment Date which are not disputed or the subject of withholding as allowed hereunder shall begin to accrue interest at the rate of one and one-tenth (1. 1) of the current prime rate of the Chase Manhattan Bank as follows: 6.2.5.1 for amounts for Work self-performed by Contractor, fifteen (15) Days after the Payment Date; and 6.2.5.2 for amounts payable to Subcontractors and Vendors, but only for the period for which Contractor was required to expend unreimbursed funds. 6.2.6 The portion of the G&A Fee payable each month shall be its representation that it has been timely and fully paid for work performed through the end amount determined by multiplying the Cost of the Invoice PeriodWork for such month times the G&A Fee. Such certified statements The portion of the Base Fee payable each month shall be in the form prescribed amount determined by multiplying the laws Cost of the state in which Work for such month times the Job Site is locatedBase Fee. 6.2.7 As a condition to final payment to a Subcontractor or Vendor, or if no such prescribed form exists, in substantially the form attached hereto as Exhibit A. Contractor agrees shall provide to furnishOwner full and final waivers and releases of liens and, if and when required the Subcontractor or Vendor is bonded, a consent of surety. 6.2.8.1 defective Work not remedied; 6.2.8.2 claims filed by Owner, payroll affidavits, receipts, vouchers, releases third parties arising out of claims the Work for which Contractor is liable under this Contract; 6.2.8.3 failure of the Contractor to make payments to Subcontractors or Vendors for labor, material and subcontractors performing work materials or furnishing material equipment for Work; 6.2.8.4 damage to the Owner or another contractor arising out of the Work for which Contractor is liable under this Agreement, all Contract; or 6.2.8.5 persistent failure to carry out the Work in form satisfactory to Owner. Subject to accordance with the payment provisions of this Agreement, ninety percent (90%) of the amount set forth in the Invoices shall be paid in any calendar month upon payment of the progress payment for such month to Contractor. Invoices shall not be submitted more frequently than monthly, and shall include all charges made since the preceding Invoice PeriodContract.

Progress Payments. All Based upon applications for payment ("Invoices")submitted to the College by the Contractor, the College shall make progress payments to the Contractor as provided below: On or before the 10th day of each month, the Contractor shall submit to the College applications for progress payments in form acceptable to Ownerwriting, which shall include a complete description state the estimated percentage of the labor Work that has been satisfactorily completed as of such date. Upon receipt by such date and materials supplied, and the work done during the period covered approval by the Invoice (the "Invoice Period"). All Invoices shall be accompanied by (i) a list of all suppliers and subcontractors whose materials or services have been utilized by Contractor to perform the work described in the Invoice, and (ii) signed waivers of and releases from any claim of lien, or stop notice that could be asserted by such suppliers, subcontractors and Contractor as a result College of the work performed during progress payment amount as provided herein, the Invoice PeriodCollege shall make payment to the Contractor not later than the 10th day of the following month. Each Invoice Applications not received by the 10th day of the month will be accompanied by certified statements from each supplier and subcontractor (1) indicating the total amount due them as a result of the work performed during the Invoice Period, (2) acknowledging that Contractor may or may not (in the Owner’s sole discretion) be paid by means of a joint check prepared based upon such certified statements, and (3) agreeing that such supplier's or subcontractor's negotiation of any such check shall be its representation that it has been timely and fully paid held for work performed through processing at the end of the Invoice Periodfollowing period. Such certified statements shall be in The Contractor shall, upon return of this Agreement and before the form prescribed by first application, submit to the laws College a schedule of values of the state in which various parts of the Job Site is located, or if no such prescribed form exists, in substantially Work aggregating the form attached hereto as Exhibit A. Contractor agrees to furnish, if and when required by Owner, payroll affidavits, receipts, vouchers, releases total sum of claims for labor, material and subcontractors performing work or furnishing material the Contract Sum under this Agreement, all made out in form satisfactory such detail as the Contractor and the College may agree upon, and supported by such evidence as to Ownerits correctness as the College may direct (the “Schedule of Values”). This Schedule of Values, when approved by the College, shall be used as a basis for applications for progress payments, unless it is found to be substantially unbalanced or in error. In applying for payment, the Contractor shall submit a statement based upon the Schedule of Values. Subject to the payment other provisions of this Agreement, ninety the amount of each progress payment shall be computed as follows: Upon receipt of an application for progress payment, the College shall determine that portion of the Contract Sum properly allocable to the completed Work as determined by multiplying the percentage completion of each portion of the Work by the share of the Contract Sum allocated to that portion of the Work in the Schedule of Values, less retainage of five percent (905%) ); The College shall add to the above product that portion of the amount set forth Contract Sum properly allocable to materials and equipment delivered and suitably stored at the site for subsequent incorporation in the Invoices completed construction, less retainage of five percent (5%); The College shall then subtract the aggregate of previous payments made by the College. No progress payment to the Contractor shall operate as approval or acceptance of the Work of the Contractor. An “Interim Lien Waiver and Release” form must be completed and submitted by the Contractor for the total amount received to date, signed, notarized and presented to the College before each subsequent progress payment application will be processed. Final Payment. Final payment shall be made by the College to the Contractor no more than 30 days from the date: The Work is fully completed and performed in accordance with the Contract Documents and has been determined by the College to be satisfactory; and The Contractor has (a) submitted all required lien waivers, as-built drawings, sales tax affidavits, operations and maintenance manuals, (b) paid in any calendar month upon payment all payrolls and bills for materials and equipment, and (c) all known indebtedness connected with the Contractor’s Work have been satisfied. At the request of the progress College and at any time following the effective date of this Agreement, Contractor shall furnish a list of contact names, phone numbers and addresses of Subcontractors and material suppliers for the Project. Acceptance of final payment for such month to shall constitute a waiver of claims by Contractor. Invoices Acceptance of Work or making of said final payment shall not relieve the Contractor of liability for defects in said Work that may thereafter be submitted more frequently than monthlydiscovered. Contractor acknowledges that payment under this Agreement may be made by check jointly to the Contractor and his suppliers, and shall include all charges made since subcontractors, workmen or creditors having a right to lien against the preceding Invoice PeriodWork.

Progress Payments. All 1. Based upon applications for payment ("Invoices")submitted to the City Representative by the Contractor and approved by the City, the City shall process and make progress payments to the Contractor as provided in the Contract Documents in accordance with the Local Government Prompt Payment Act as set forth in Part VII, Chapter 218, Florida Statutes, including applicable provisions for City representative review time. 2. Applications for progress payments will be submitted no more often than monthly during the performance of the Work. The Contractor shall submit the application for progress payment for City Representative’s approval in the form acceptable to Owner, the City. Each such application for payment shall include a complete description of set forth the labor and materials supplied, and the work done during the period covered by the Invoice (the "Invoice Period"). All Invoices shall be accompanied by (i) a list value of all suppliers and subcontractors whose materials or services have been utilized by work completed on the date of application, including the sum of all prior payments. 3. On each application for progress payment, Contractor to perform the work described in the Invoice, and (ii) signed waivers of and releases from any claim of lien, or stop notice that could be asserted by such suppliers, subcontractors and Contractor as a result of the work performed during the Invoice Period. Each Invoice will be accompanied by certified statements from each supplier and subcontractor shall (1) indicating list the total amount due them as a result name and address of the each of its subcontractors, laborers, materialmen and suppliers who have performed work performed or provided supplies or material during the Invoice Period, time period of Work reflected by the application; (2) acknowledging that Contractor may provide an accounting of all sums invoiced by and paid to each of Contractor’s subcontractors, laborers, materialmen and suppliers for Work performed or may not (in the Owner’s sole discretion) be paid by means of a joint check prepared based upon such certified statementssupplies and materials provided to date; and, and (3) agreeing that such suppliersubmit an updated progress schedule. In each application for progress payment, the Contractor shall certify as follows: (A) There are no known mechanic's or subcontractor's negotiation materialmen’s liens or payment bond claims outstanding at the date of this application for progress payment concerning the Construction Contract between City and Contractor; all due and payable bills with respect to the Project have been paid to date or shall be paid from the proceeds of this application for payment; there is no known basis for the filing of any such check shall be its representation that it has been timely mechanic's or materialmen’s liens or payment bond claims on the Project and fully paid for work performed through the end of the Invoice Period. Such certified statements shall be in the form prescribed subcontractors, laborers and materialmen employed by the Contractor, have been or will be obtained in such form as to constitute an effective waiver of lien under the applicable laws of the state State of Florida"; (B) "All improvements have been installed in which accordance with the Job Site is locatedContract Documents (except where noted or agreed upon in writing by the City pursuant to an approved Change Order)"; and (C) "No encroachments into the designated set-back lines and rights of way, or if no such prescribed form exists, in substantially the form attached hereto as Exhibit A. Contractor agrees to furnish, if and when required by Owner, payroll affidavits, receipts, vouchers, releases of claims for labor, material and subcontractors performing work or furnishing material under this Agreement, all in form satisfactory to Owner. Subject to the payment provisions of this Agreement, ninety percent (90%) of the amount set forth stipulated in the Invoices shall be paid in any calendar month upon payment of the progress payment for such month to Contractor. Invoices shall not be submitted more frequently than monthlyContract Documents, and shall include all charges made since the preceding Invoice Periodexist.".

Progress Payments. All applications (a) No more frequently than once each month, each Contractor shall submit a "Request for payment Payment" to the Construction Manager which includes: ("Invoices") 1) Copies of receipts for materials, in form acceptable to Ownertemporary facilities, shall include a complete description of the labor equipment, furnishings, tools and materials supplied, and the work done during the period covered by the Invoice (the "Invoice Period"). All Invoices shall be accompanied by (i) a list of all suppliers and subcontractors whose materials or services have been other items utilized by Contractor to perform the work described in the Invoice, and (ii) signed waivers of and releases from any claim of lien, or stop notice that could be asserted by such suppliers, subcontractors and Contractor as a result of the work performed during the Invoice Period. Each Invoice will be accompanied by certified statements from each supplier and subcontractor (1) indicating the total amount due them as a result of the work performed during the Invoice Period, Work; (2) acknowledging that Contractor may or may not (invoices for labor performed in the Owner’s sole discretion) be paid by means of a joint check prepared based upon such certified statements, Work; and (3) agreeing that such suppliermechanics' lien waivers for all applicable labor and materials for which payment is requested. No Request for Payment shall include any amount which was part of a previous request. The Request for Payment shall include each Contractor's or subcontractor's negotiation fee. (b) The Construction Manager shall review and approve each Request for Payment and, upon approval, shall submit the summary of any such check the Request for Payment to the Owner. Upon the request of Owner, the Summary Request for Payment and supporting documents shall be its representation sent to Owner's lender at the same time that it has been timely and fully paid for work performed through the end of the Invoice Period. Such certified statements shall be in the form prescribed by the laws of the state in which the Job Site is located, or if no such prescribed form exists, in substantially the form attached hereto as Exhibit A. Contractor agrees to furnish, if and when required by Owner, payroll affidavits, receipts, vouchers, releases of claims for labor, material and subcontractors performing work or furnishing material under this Agreement, all in form satisfactory sent to Owner. Subject Owner or Owner's lender shall pay the approved Request for Payment, together with the Construction Manager's Fee, as provided below, within fifteen (15) days after mailing or delivery. Payment shall be submitted to the Construction Manager who shall pay the Contractors. Owner shall be liable for the payment provisions of this Agreement, ninety interest at the rate of eighteen percent (9018%) per annum on any Requests for Payment from and after the date due. (c) The Construction Manager's submission of a Summary Request for Payment shall constitute a representation to Owner that, to the best of the amount set forth Construction Manager's knowledge, information and belief, the Work has progressed to the point indicated and the quality of the Work is in accordance with the Construction Contracts and that the Contractors are entitled to payment in the Invoices shall be paid in any calendar month upon payment amount requested. (d) The submission of the progress payment a Summary Request for such month to Contractor. Invoices Payment shall not be submitted more frequently than monthlya representation that the Construction Manager has: (1) reviewed copies of requisitions received from subcontractors and material suppliers to substantiate the Contractors' right to payment, or (2) ascertained how or for what purpose the Contractors have used money previously paid by Owner. (e) Final payment to the Contractors shall be due and payable ten (10) days after mailing or delivery of a Certificate of Occupancy for the Sardy House and a certificate executed by the Construction Manager certifying that the Construction Manager has conducted a final inspection of the Work, that the Contractors has satisfied any punch list items, and shall include all charges made since that the preceding Invoice PeriodWork is complete.

Progress Payments. All applications for payment ("Invoices"), in form acceptable to Owner, shall include a complete description of the labor and materials supplied, and the work done during the period covered by the Invoice (the "Invoice Period"). All Invoices shall be accompanied by (i) a list of all suppliers and subcontractors whose materials or services have been utilized by Contractor to perform the work described in the Invoice, and (ii) signed waivers of and releases from any claim of lien, or stop notice that could be asserted by such suppliers, subcontractors and Contractor as a result of the work performed during the Invoice Period. Each Invoice will be accompanied by certified statements from each supplier and subcontractor (1) indicating the total amount due them as a result of the work performed during the Invoice Period, (2) acknowledging that Contractor may or may not (in the Owner’s sole discretion) be paid by means of a joint check prepared based upon such certified statements, and (3) agreeing that such supplier's or subcontractor's negotiation of any such check shall be its representation that it has been timely and fully paid for work performed through the end of the Invoice Period. Such certified statements shall be in the form prescribed by the laws of the state in which the Job Site is located, or if no such prescribed form exists, in substantially the form attached hereto as Exhibit A. Contractor agrees to furnish, if and when required by Owner, payroll affidavits, receipts, vouchers, releases of claims for labor, material and subcontractors performing work or furnishing material under this Agreement, all in form satisfactory to Owner. Subject to the payment provisions of this Agreement, ninety percent (90%) of the amount set forth in the Invoices shall be paid in any calendar month upon payment of the progress payment for such month to Contractor. Invoices shall not be submitted more frequently than monthly, and shall include all charges made since the preceding Invoice Period.. Construction Management Services Agreement