Construction Progress Draw Request Clause Samples

Construction Progress Draw Request. Draw requests are to be in writing and presented to the CRA by the Grantee only for labor and materials as set forth in the NoMi Lofts Expenses Spreadsheet. Without limiting the foregoing, draw requests shall be limited to four per CRA Fiscal Year (October 1 to September 30) and shall be based on amounts as allocated by the CRA Executive Director. The CRA shall have the right to inspect and verify payment for all labor and materials prior to release of each draw. By submitting a draw request to the CRA, the Grantee shall be deemed to acknowledge and agree, and represent to the CRA, that (a) the work has progressed to the point indicated, (b) the quality of the work is in accordance with the plans and specifications, and (c) all monies previously paid by the CRA to the Grantee have been disbursed to the appropriate architect, contractors, consultants, subconsultants, subcontractors, materialmen, vendors, and miscellaneous suppliers based upon the prior draw request. Notwithstanding the foregoing, the CRA may directly pay the Grantee’s vendors provided that the CRA is provided with all documents required by Chapter 713, Florida Statutes, and the applicable contractor agreement(s) including partial and final waivers of lien, as well as a release by the Grantee, all in a form and substance acceptable the CRA. Notwithstanding anything in this Agreement to the contrary, the CRA, in its sole discretion, shall withhold and retain from each draw of the Grant, up to the amount of the retainage set forth in Grantee’s construction contract as the final draw, which final draw amount will be withheld until the Grantee provides the CRA with written documentation, in a form and substance acceptable to the CRA in all respects, certifying that the Project (i) is completed, (ii) all inspections have been passed and finalized, (iii) all permits have been closed and (iv) a certificate of occupancy has been issued. The foregoing is in addition to the expenditure report required by Section 5.2 below.