R95-92 ACCEPTING THE BID AND AUTHORIZING A CONTRACT

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ARTICLE 6 FINAL PAYMENT Final payment,constituting�he entire unpaid batance of the Contract Sum,shall be made by the Owner to the Contractor when(1) the Contract has been fully performed by the Contracror escept for the Contractor's responsibIlity to correct nonconforming Work as provided in Subparagraph 12.2.2 of the General Conditions and to satisfy other requirements, if any, which necessarily survive final payment;and(2)a final Certificate for Payment has been issued by the Architect;such final payment shall be made by the Owner not more than 30 days after the issuance of the Architect's final Certificate for Payment, or as follows: ARTICLE 7 MISCELLANEOUS PROVISIONS 7.1 Where reference is made in this Agreement to a provision of the General Conditions or another Contract Document,the ref- erence refers to that provision as amended or supplemented by other provisions of the Contract Documents. 7.2 Payments due and unpaid under the Contract shall bear interesc from the date payment is due at the rate stated below,or in the absence thereof, at the legal rate prevailing from time co time at the place where the Project is located. (Insert rate oj interest agreed upon, iJ any.� (L'sury laws and requirements+�nder the Federal Truth in Lending Act,similar state and loca(co�rsumer credrt[au�s and other regulations at tbe Owner's and Contractor's principal places oJ business,the locatiore of the Project and elseu�bere may ajject the ralidity of this prot�ision.Lega!udcnce sbould be obtained with respect to deletioris or modijicattons, and ulso regarding requirements sucb as wr:tten disdosures or wainers.) 7.3 Other provisions: N/A ARTICLE 8 TERMINATION OR SUSPENSION 8.1 The Contract may be terminated by the Owner or the Contractor as provided in Article 14 of the General Conditions. 8.2 The Work may be suspended by the Owner as provided in Article 14 of the General Conditions. AIA DOCUMENT A101 • OWNER-CONTRACTOR AGREE�IENT • TWELFTH ED[TION• AIA° • C1987 THE AMER(CAN INSTITUTE OF ARCHITECTS,1735 NEW YORK AVENL'E,N.W'.,WASHINGTON,D.C.?OOOC A�0�-1987 S WARNING:Unlicensed photocopying vfolates U.S.copyright laws and is subject to legal prosecution.