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t r <br /> 5. Consideration and Payment. II <br /> (a) Consideration. The Authority shall pay to the Contractor �' <br /> for performance of this Contract the sum of One hundred eighty nine <br /> thousand one hundred twelve Dollars ($189, 112 . 00) , subject to <br /> additions and deductions as provided in the Contract Documents <br /> ( "contract sum" ) in the manne= as stated in the Contract documents . <br /> The contract sum indicates the base bid of $181,740 .00 plus <br /> Alternative 1 in the amount of $3, 100. 00 plus Alternative 2 in the <br /> amount of $4,272 . 00 as stated in paragraph 5 of the bid proposal. <br /> (b) AD�lications for Payment. Based on applications for <br /> payment submitted through the Engineer to the Authority by the <br /> Contractor, and compliance with paragraph 6 of this contract <br /> pertaining to mechanics liens, the Authority shall make progress <br /> payments on account of the contract sum to the contractor as <br /> provided below. <br /> (c) Period Covered. The period covered by each application <br /> for payment shall be a calendar month ( "period covered° ) . <br /> (d) Time of Application. Provided an application for payment <br /> is received by the Engineer (with a copy to the Authority) not <br /> later than the first day of a calendar month succeedi.ng the period <br /> covered, the Authority shall make payment to the contractor not <br /> later than the last day of such month in which application for <br /> payment is received. � <br /> (e) Contents of Application. Each application for payment by <br /> the Contractor shall be based upon the material received and the <br /> labor performed for the period covered and shall be supported by <br /> -6- ' <br /> i <br /> � <br />