1990-033-RES WHEREAS, the City Council of the City of Resolution No. 90-029 on March 12, 1990 advertisement for bids

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CONTRACTOR shall pay OWNER fifty and no/100 dollars ($ 50.00 ) for each day that expires after the time specified in paragraph 3.1 for completion and readiness for final payment. Article 5. PAYMENT PROCEDURES. CONTRACTOR shall submit Applications for Payment in accordance with Article 14 of the General Conditions. Applications for Payment will be processed by ENGINEER as provided in the General Conditions. 5.1 Progress Payments, No progress payments will be made on this project. One payment, Final Payment, will be made upon the satisfactory completion of the project. 5.2 Final Payment. Upon final completion and acceptance of the Work in accordance with paragraph 14.13 of General Conditions, OWNER shall pay the remainder of the Contract Price as recommended by ENGINEER as provided in said paragraph 14.13. Article 6. INTEREST No interest will be paid to the CONTRACTOR on retained money unless required by law. Article 7. CONTRACTOR'S REPRESENTATIONS. In order to induce OWNER to enter into this Agreement, CONTRACTOR makes the following representations: 7.1 CONTRACTOR has familiarized itself with the nature and extent of the Contract Documents, Work, site locality, and all local conditions and Laws and Regulations that in any manner may affect cost, progress, performance or furnishing of the Work. 7.2 CONTRACTOR has studied carefully all reports of explorations and tests of subsurface condi tions and drawings of physical conditions which are identified in the Supplementary Conditions as provided in paragraph 4.2 of the General Conditions, and accepts the determination set forth in paragraph SC-4 .2 of the Supplementary Conditions of the extent of the technical data contained in such reports and drawings upon which CONTRACTOR is entitled to reply.