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~ At the unit prices shown on the Unit Price Bid Schedule included in the Contract <br />Documents. <br />~ Article 5. PAYMENT PROCEDURES <br />~ <br />w <br />~ <br />~ <br />~ <br />~ <br />IN <br />IN <br />~ <br />~ <br />~ <br />~ <br />. <br />CONTRACTOR shall submit Applications for0esed n b1 l hded nnthe <br />Conditions. Applications for Payment wtll be p1 Y ENGINEER, as prov <br />General Conditions. <br />The OWNER shall retain 10% of the amount of each PaY when the fWotkc sm ulbstantially <br />acceptance of all Work covered I by the Contract Documents. <br />complete, the retained amount may be reduced to 5%, at the OWNER'S discretion. <br />Article 6. INTEREST <br />If the contract amount of this contract is less" than $400,000, no interest will be paid to the <br />CONTRACTOR on retained money. When the contract amount exceeds $400,000, no interest <br />will be paid unless required by law. <br />Article 7. CONTRACTOR'S REPRESENTATIONS <br />In order to induce OWNER to enter into this Agreement, CONTRACTOR makes the following <br />representations: <br />7.1 CONTRACTOR has familiarized himself with the nature and extent of the Contract <br />Documents, Work, site, locality, andl local o furnish ng of he Worktions that, <br />in any mariner-, may affect cost, pi og ess, perfomance or <br />7.2 CONTRACTOR has studied carefully all reports of explorations and tests of subsurface <br />conditions and drawings of physical conditions, if any, which are contained or identified <br />iil the Contract Documents, and accepts the determination set forth in the Contract <br />Documents of the extent of the technical data contained in such reports and drawings <br />upon which CONTRACTOR is entitled to rely. <br />7.3 CONTRACTOR has obtained and carefully studied (or assumes responsibility for <br />obtaining and carefully studying) all such examinations, investigations, explorations, <br />tests, reports and studies in addition to, or to . supplement, those referred to above, which <br />pertain to the subsurface or physical no[ldeto~ ~rnishing of the Work asSCONTRACTOR <br />may affect the cost, progress, perfori <br />considers necessary for the performance or furnishing of the Work at the Contract Price, <br />within the Contract Time and in accordance with the other terms and conditions of the <br />Contract Documents, and no additional examinations, investigations, explorations, tests, <br />reports, studies or similar inforâ–ºnation or data are, or will be, required by <br />CONTRACTOR for such purposes. <br />19 <br />