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substantiate its accuracy,as the Architect may require.This schedule of values shall be used as a basis for reviewing
<br /> the Contractor's Applications for Payment.
<br /> § 5.1.5 Applications for Payment shall show the percentage of completion of each portion of the Work as of the end of
<br /> the period covered by the Application for Payment.
<br /> § 5.1.6 In accordance with AIA Document A20ITM-2017,General Conditions of the Contract for Construction,and
<br /> subject to other provisions of the Contract Documents,the amount of each progress payment shall be computed as
<br /> follows:
<br /> § 5.1.6.1 The amount of each progress payment shall first include:
<br /> .1 That portion of the Contract Sum properly allocable to completed Work;
<br /> .2 That portion of the Contract Sum properly allocable to materials and equipment delivered and suitably
<br /> stored at the site for subsequent incorporation in the completed construction,or,if approved in advance
<br /> by the Owner,suitably stored off the site at a location agreed upon in writing;and
<br /> .3 That portion of Construction Change Directives that the Architect determines,in the Architect's
<br /> professional judgment,to be reasonably justified.
<br /> § 5.1.6.2 The amount of each progress payment shall then be reduced by:
<br /> .1 The aggregate of any amounts previously paid by the Owner;
<br /> .2 The amount,if any,for Work that remains uncorrected and for which the Architect has previously
<br /> withheld a Certificate for Payment as provided in Article 9 of AIA Document A201-2017;
<br /> .3 Any amount for which the Contractor does not intend to pay a Subcontractor or material supplier,
<br /> unless the Work has been performed by others the Contractor intends to pay;
<br /> .4 For Work performed or defects discovered since the last payment application,any amount for which
<br /> the Architect may withhold payment,or nullify a Certificate of Payment in whole or in part,as provided
<br /> in Article 9 of AIA Document A201-2017;and
<br /> .5 Retainage withheld pursuant to Section 5.1.7.
<br /> § 5.1.7 Retainage
<br /> § 5.1.7.1 For each progress payment made prior to Substantial Completion of the Work,the Owner may withhold the
<br /> following amount,as retainage,from the payment otherwise due:
<br /> (Insert a percentage or amount to be withheld as retainage from each Application for Payment. The amount of
<br /> retainage may be limited by governing law)
<br /> Ten Percent
<br /> (Paragraphs deleted)
<br /> § 5.1.7.2 Reduction or limitation of retainage,if any,shall be as follows:
<br /> (If the retainage established in Section 5.1.7.1 is to be modified prior to Substantial Completion of the entire Work,
<br /> including modifications for Substantial Completion of portions of the Work as provided in Section 3.3.2, insert
<br /> provisions for such modifications)
<br /> as required by governing law
<br /> § 5.1.7.3 Except as set forth in this Section 5.1.7.3,upon Substantial Completion of the Work,the Contractor may
<br /> submit an Application for Payment that includes the retainage withheld from prior Applications for Payment pursuant
<br /> to this Section 5.1.7.The Application for Payment submitted at Substantial Completion shall not include retainage as
<br /> follows:
<br /> (Insert any other conditions for release of retainage upon Substantial Completion)
<br /> as required by governing law
<br /> § 5.1.8 If final completion of the Work is materially delayed through no fault of the Contractor,the Owner shall pay
<br /> the Contractor any additional amounts in accordance with Article 9 of AIA Document A201-2017.
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