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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J Wall Street Prime Rate plus 1 %ocr annum §4.2 Final Payment §4.2,1 Final payment,constituting the entire unpaid balance of the Contract Sum,shall be made by the Owner to the Contractor when .1 the Contractor has fully performed the Contract except for the Contractor's responsibility to correct Work as provided in Section 18.2,and to satisfy other requirements,if any,which extend beyond final payment; .2 the Contractor has submitted a final accounting for the Cost of the Work,where payment is on the basis of the Cost of the Work with or without a Guaranteed Maximum Price;and .3 a final Certificate for Payment has been issued by the Architect in accordance with Section 15.7.1. §4.2.2 The Owner's final payment to the Contractor shall be made no later than 30 days after the issuance of the Architect's final Certificate for Payment,or as follows: ARTICLE 5 DISPUTE RESOLUTION §5.1 Binding Dispute Resolution For any claim subject to,but not resolved by,mediation pursuant to Section 21.5,the method of binding dispute resolution shall be as follows: (Check the appropriate box.) [ ] Arbitration pursuant to Section 21.6 of this Agreement [X] Litigation in a court of competent jurisdiction [ ] Other(Specify) If the Owner and Contractor do not select a method of binding dispute resolution,or do not subsequently agree in writing to a binding dispute resolution method other than litigation,claims will be resolved in a court of competent jurisdiction. ARTICLE 6 ENUMERATION OF CONTRACT DOCUMENTS §6.1 The Contract Documents are defined in Article 7 and,except for Modifications issued after execution of this Agreement,are enumerated in the sections below. §6.1.1 The Agreement is this executed AIA Document AI04Tm--2017,Standard Abbreviated Form of Agreement Between Owner and Contractor. §6.1.2 AIA Document E203Tm-2013,Building Information Modeling and Digital Data Exhibit,dated as indicated below: (Insert the date of the E203-2013 incorporated into this Agreement.) §6,1.3 The Supplementary and other Conditions of the Contract: Document Title Date Pages §6.1 A The Specifications: (Either list the Specifications here or refer to an exhibit attached to this Agreement.) The soecifications_are_ine.luded in.Exhibit A (nit AIA Document A104'-2017(fonnerly A107- -2007).Copyright®1936 1951,1958 1961,1963,1966,1970,1974,1978,1987,1997,2007 and 2017 by The American Institute of Architects.AU rights reserved. , ' >` - 6 tThis document was produced by AIA software at 17:15:49 CT on 06/28/2022 under Order lVo.2114240266 which expires on 09130/2022,is not for resale,is licensed for one-time use only,and may only be used in accordance with the AIA Contract Documents®Terms Of Service.To report copyright violations,e-mail copyright@aia.org. User Notes: (MADA43)