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Specifications: on Drawings ' .4 addenda re ared b the Architect as follows: Received new finish schedule P P Y .5 written change orders or orders for minor changes in the Work issued after execution of this Agreement; and .6 other documents, if any, identified as follows: Contractor's Revised Proposal dated June 29, 2016 which takes precedence over the design documents ARTICLE 2 DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION DATE The date of commencement shall be the date of this Agreement unless otherwise indicated below. The Contractor ' shall substantially complete the Work not later than six.consecutive calendar weeks(42 davs), alus move in time required bv Owner between qhases (TBD), subject to adjustment by Change Order. Start date to be determined based on lead times of materiais as provided in Contractor's Revised Proposal(1 6) or date of receiqt of this fullv executed contract or receipt of building permit whichever is later. (!n"serf Ihe date or number of calendar days after the date of commencemenl.) ARTICLE 3 CONTRACT SUM 3.1 Subject to additions and deductions by.Change Orde�, the Contract Sum is:$191,762.00 One hundred ninetv- one thousand, seven hundred sixtv-two US cfollars (which is inclusive of the paint alternate add of�4.848) 3.2 For purposes of payment, the Cont�act Sum includes the following values �elated to portions of the Work: Portion of 1Nork: See 5chetlule of Value in 1.6 above Value: 3.3 The Contract Sum shall include all items and services necessary for the proper execution and completion of the Work. ARTICLE 4 PAYMENT 4 1 Based on the Contractor's Application for Payment certified by the Architect, the Owner shall pay the Contractor as follows Appljcations for Pavment based on Percentaqe of Completion will be submitted on or about the 30"'of the month. Remittance of�oavment from Owner to contractor shall be bv the 15 of the followina month. Owner to retain 10% of the percenta4e of work completed for each Apqlication for Pavment Retainape due to Contractor at completion of punchlist and submittal of closeout documents required (Here insert payment procedures and provisions for retainage,it any) 4.2 Payments due and unpaid under the Contract Documents shall bear interest from the date payment is due at the rate of , or in the absence thereof, at the legal rate prevailing at the place of the project. (Usury laws and mquiremenfs under fhe Federal Truth in lending Acf,similer Stafe and loca!laws and ofher regulelions at the OwneYs and Contracfors principa!places ol business,the localion of the Piaject and elsewhere may aHecl the validity o/this provision.J ARTICLE 5 INSURANCE 5.1 The Contractor shall provide Contractor's Liability and Owner's Property as follows: � ((nsert specifrc insurance i�quired by the owner:) 5.2 The Owner shall provide Owner's Liability and Owner's Property Insurance as follows: ! (lnsert specifrc insurance tumished by lhe Owner) � � 5 3 The Contractor shall obtain an endorsement to its general liability insurance policy to cover the Contractor's � obligations under Paragraph 3.12 of the General Conditions of the Contract for Construction of a Project. , ,