Payments and Completion. Payments may be withheld because of (1) defective work not remedied; (2) failure of contractor to make proper payments to subcontractors, workers, or suppliers; (3) persistent failure to carry out work in acceptance with this Agreement or these general conditions, or (4) legal claims. Final payment will be due after complete release of any and all liens arising out of the contract or submission of receipts or other evidence of payment covering all subcontractors or suppliers who could file such a lien. The contractor agrees to indemnify the Owner against such liens and will refund all monies including costs and reasonable attorney’s fees paid by the owner in discharging the liens. A 10 percent holdback is required by the lender to assure the work has been properly completed and there are no liens against the property. Owners Initials: Contractor’s Initials: -Continued on Page Three-
Payments and Completion. 1. The Contract Sum stated in the Agreement, including authorized adjustments, is the total amount payable by the OWNER to the CONTRACTOR for performance of the Work under the Contract Documents.
Payments and Completion. In consideration of the complete and timely performance of the Work, Xxxxxxx shall pay Contractor the Contract Sum of ($ ). If the Contract Documents contain an engineer’s estimate of the quantities of material required for the Work and expressly provide for an adjustment to the Contract Sum for actual quantities, the final Contract Sum will be adjusted according to actual field measurements of installed materials multiplied by the Contractor’s per unit prices. All such measurements are subject to confirmation by Xxxxxxx. In all other cases, no adjustment will be made to the Contract Sum except by approved Change Order. The terms of this paragraph shall be governed by A.R.S. § 34-221 and any amendments thereto which is hereby incorporated by reference. Upon receipt of written notice that the Work is ready for final inspection and acceptance, Xxxxxxx’x Representative shall promptly make a final inspection and, when Xxxxxxx’x Representative finds the Work acceptable under the Contract Documents, he shall promptly approve a certificate for payment stating that upon his knowledge, information and belief and on the basis of his observations and inspections, the Work has been completed in accordance with the terms and conditions of the Contract Documents and that the entire balance found to be due the Contractor is due and payable. Neither the final payment nor the retained percentage determined under A.R.S. § 34-221 shall become due until the Contractor submits to Xxxxxxx all required data establishing payment or satisfaction of all Contractor’s obligations.
Payments and Completion. 11.1. PRICES 11.2. APPLICATION FOR PAYMENT 11.3. DELAYED PAYMENTS
Payments and Completion. 9.2 SCHEDULE OF VALUES Add the following Sections:
Payments and Completion. Funds for the renovation are released per the executed draw agreement. All requests for funds should be submitted to the FHA 203K Draw Specialists assigned to the specific job. The Lender’s 203K Concierges’ Department can be reached by emailing XxxxxxxxxxXxxxxxxxxXxxxxxx@xxxx.xxx. Payments may be withheld because of: (1) defective work not remedied; (2) failure of contractor to make proper payments to subcontractors, works, or suppliers; (3) persistent failure to carry out work in accordance with this Agreement or these general conditions, or (4) legal claims. Final payment will be due after complete release of any and all liens arising out of the contract or submission of receipts or other evidence of payment covering all subcontractors or suppliers who could file such a lien. The contractor agrees to indemnify the Owner against such liens and will refund all monies including costs and reasonable attorney’s fees paid by the owner in discharging the liens. A 10% holdback is required by the lender to assure the work has been properly completed and there are no liens on the property.
Payments and Completion. 9.1 APPLICATION FOR PAYMENT 9.2 CERTIFICATES FOR PAYMENT
Payments and Completion. 10. Protection of Persons and Property
Payments and Completion. 11.1. PRICES 11.2. SUBMISSION OF SCHEDULE OF VALUES 11.3. APPLICATION FOR PAYMENT 11.4. PARTIAL PAYMENTS 11.5. DELAYED PAYMENTS 11.6. SUBSTANTIAL COMPLETION 11.7. FINAL COMPLETION 11.8. CORRECTION OF DEFECTIVE WORK BEFORE AND DURING WARRANTY PERIOD
