Construction Payment Applications Clause Samples

Construction Payment Applications. (i) Developer shall deliver to County, on or before the last Business Day of each full calendar month following the commencement of the applicable Phase E, an itemized invoice describing the Work in the applicable Phase E performed in the preceding month (“Construction Payment Application”), which Construction Payment Application shall constitute a representation by Developer that (i) the Work will have progressed to the point indicated by the end of the month, (ii) that the quality of the Work covered by the Construction Payment Application is in accordance with the Project Documents, (iii) that Developer is entitled to payment in the amount requested and (iv) the payment requested by Developer does not exceed the amounts paid or payable by Developer to Contractor, Design Professionals, and/or Other Contractors. Payment Applications shall show the percentage of completion of each portion of the Work as of the end of the period covered by the Construction Payment Application. The percentage of completion shall be the percentage of that portion of the Work which has actually been completed. (ii) The Construction Payment Application shall include detailed backup material, including but not limited to invoices from Contractors, Design Professionals, Other Consultants, and other vendors, as County may reasonably request. In addition each Construction Payment Application shall be accompanied by the following monthly reports (collectively, “Monthly Reports”): (i) the NCF Phase Schedule and GMP Construction Schedule (in electronic form) updated to show the actual progress of the Work and any material changes; (ii) a narrative report describing the actual progress of the Work compared to scheduled progress and explaining any deviations between actual and scheduled progress and any known events that may affect the cost or schedule for the Work; (iii) a written progress payment report stating the value of all contracts for the Work and a comparison to the approved Schedule of Values, all payments made by Developer to date, current payments requested by Contractors, Design Professionals and Other Consultants, any other pending payment requests, retainage held on each contract, and actual amounts Developer proposes to pay to each Contractor and Design Professional or Other Consultant in the current payment period; (iv) a written Modification report listing all Change Orders by number, a brief description of the Change Order work, any adjustment to the Cost of the Work...