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R98-120 AUTHORIZING AGREEMENT
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R98-120 AUTHORIZING AGREEMENT
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Last modified
4/11/2016 4:12:28 PM
Creation date
4/11/2016 4:12:23 PM
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Resolution/Ordinance
Res Ord Num
R98-120
Res Ord Title
AUTHORIZING AGREEMENT - DECATUR CIVIC CENTER AUTHORITY / HVAC
Approved Date
10/5/1998
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� . <br /> such data to substantiate its accuracy as the Authority or Engineer <br /> may require. <br /> (f) RetainaQe. All payments by the Authority for labor, <br /> materials and equipment incorporated into the project, and all <br /> materials and equipment delivered and suitably stored at the <br /> project site for subsequent incorporation in the completed <br /> construction (or, if approved in advance by the Authority, suitably <br /> stored off the site at a location agreed upon in writing) , shall <br /> have a retainage withheld of ten percent ( 10�) . <br /> (g) Final Payment. <br /> (1) When the contractor considers the project to be <br /> substantially complete, the contractor shall prepare and submit to <br /> the Engineer a comprehensive list of items to be completed or <br /> corrected. The contractor shall proceed promptly to complete and <br /> correct such items on the list. IIpon completion of such items, the <br /> contractor shall notify the Engineer in writing that the project is <br /> substantially complete and file a final application for payment, <br /> accompanied by the other documents required in this agreement, <br /> including final lien waivers from all subcontractors, as well as <br /> the contractor. <br /> (2) Upon substantial completion, the Authority shall <br /> make final payment, constituting the entire unpaid balance due to <br /> contractor. <br /> (3) Substantial completion is defined as the stage when <br /> the entire project is sufficiently complete in accordance with the � <br /> contract documents so that the Authority can fully utilize the i <br /> -7- <br />
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