Withholding of Retainage; Conversion to Lump Sum. Retainage shall be withheld from each Application for Payment to the CM/GC in the amount of ten percent of the sum of the total cost for original Contract Work, Change Order Work, materials stored on the Site and CM/GC Fee earned. After one-half of the Contract Sum, including Change Orders, becomes due and the Work meets all of the following conditions:
Appears in 6 contracts
Samples: Construction Management Agreement, Construction Management Contract, Construction Management Contract
