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1503 RES COP ADVERTISED FOR BIDS
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1503 RES COP ADVERTISED FOR BIDS
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Last modified
11/28/2017 10:12:59 AM
Creation date
8/15/2012 2:56:15 PM
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CITY CLERK
CITY CLERK - Date
8/21/1972
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Where the qi,antities oribinaily con~:emplated are so changed that application of <br />the abx•eed unit price to the quantity of work performed is shown to create a <br />hardship to the Owner or the Contractor, there shall be an equitable adjustment <br />oi the Contract to prevent such hardship. <br />ARTICLE 4. PROGRESS PAYMENTS <br />T h e Owner shail make payments on account of the Contract as provided therein, <br />as foliows: on or about the tenth day of each month ninety per cent of the value, <br />based on labor and mate-rials incorporated in the work and materials suitably <br />stored at the site thereof up to the first day of that month, as estimated by the <br />Architect, less the aggregate of previous payments; and upon substantial com- <br />pletion of the entire work, a sum sufficient to increase the total payments to <br />ninety per cent of the Contract pricc:. <br />ARTICLE 5. ACCEPTANCE AND FINAL PAYMENT <br />Final payment shall be due thirty days after substantial completion of the work <br />provided the work be then fully completed and the contract iully performed. <br />Upon receipt of written notice that the work is ready for final inspection and <br />acceptance, the Architect shall proinptly make such inspection, and when he <br />finds the work acceptable and the Contract fully perfo-zmed he shall promptly <br />issue a final certificate, over his own signature, stating that the work provided <br />for in this Contract has been completed and is accepted by him under the terms <br />and conditions tnereof, and that the entire baiance found to be due the Contractor, <br />and noted in said final certificate, is due and payable. <br />Before issuance of final payment the Coniractor shai1 submit evid,:nce saiisiac- <br />tory to the Arcniiect that ail payrolls, maLerials bi~ls, I c~~~e-r ir.dcbi.ec:ness <br />connected with the work have been paid or c-t.herwisa <br />If after the work has bee.n substantialiy comp3eted, ful": ~.materially deiayed throubh no fault af the Contr~.ctoi, wnd i',.e <br />certifies, the Owner shall, upon certificate of the Architect, wr.d wl::lzou~ <br />Page 3 oi 5 <br />
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