R2022-88 Resolution Accepting the Bid from Interior Construction Specialty, Inc. for Interior Modifications on the Second Floor of the Decatur Public Library

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Item Price "on as tiens eeffWned in Seefien 3.4.3.5.Phe Owner-shall promptly fumish seeh FwAsed Gefit&aet Deouffients to the GerAmeter-.The GeffkaateF shall notify the OymeF andAfelikeet efmy iaeeffsis�eies between the agreed §3.5 Liquidated damages,if any: (Insert terms and conditions for liquidated dwnages, if any) In the event that the contractor fails to comnjJlete the work required as stated in,the specifications,then the amount of $10� 0 aday,will be deducted from the contractor's invoice for ever" delinquent calendar day. This amount shall be retained by the Cin of Decatur as liquidated damaies and not as a penalty,, ARTICLE 4 PAYMENT §4.1 Progress Payments §4.1A Based upon Applications for Payment submitted to the Architect by the Contractor and Certificates for Payment issued by the Architect,the Owner shall make progress payments on account of the Contract Sum to the Contractor as provided below and elsewhere in the Contract Documents. §4.1.2 The period covered by each Application for Payment shall be one calendar month ending on the last day of the month,or as follows: §4.1.3 Provided that an Application for Payment is received by the Architect not later than the First day of a month, the Owner shall make payment of the certified amount to the Contractor not later than the Last day of the same month.if an Application for Payment is received by the Architect after the date fixed above,payment shall be made by the Owner not later than Thirty(30)days after the Architect receives the Application for Payment. (Federal,state or local laws may require payment within a certain period of time) §4.1 A For each progress payment made prior to Substantial Completion of the Work,the Owner may withhold retainage from the payment otherwise due as follows: (Insert a percentage or amount to be withheld as retainage from each Application for Payment and any terms for reduction of retainage during the course of'the Work. The amount of retainage may be limited by governing law) Retainave shall be,,in the amount of 5%. §4.1.5 Payments due and unpaid under the Contract shall bear interest from the date payment is due at the rate stated below,or in the absence thereof,at the legal rate prevailing from time to time at the place where the Project is located. (Insert rate of interest agreed upon, if any.) AIA Document A104' -2017 e�AN r reserved. 7),Copyright C 1936,1951 1958 1961,1963 1966,1970,1974 1978,1987,1997,2007 and 2017 by Init. The American Institute of 1 ? This document was produced by AIA software at 17:15:49 CT on 06!2812022 under Order No.2114240266 5 which expires on 0913012022,is not for resale,is licensed for one-time use only,and may only be used in accordance with the AIA Contract Doeumentse Terris of Service.To report copyright violations,e-mail oopyright@aie.org. User Notes: (389ADA43)