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<br />after the opening of the restaurant in order to <br />establish a formal list of construction deficiencies <br />(the "punchlist"). If the punchlist items are not <br />corrected within fourteen days thereafter, Owner may <br />hire an independent contractor to perform same and may <br />deduct its reasonable costs from the monies retained <br />from Contractor, or Owner may bill Contractor for such <br />costs. Contractor agrees to pay immediately all such <br />costs billed by Owner. If an item cannot reasonably be <br />corrected within such fourteen (14) days, the reasons <br />therefor shall be explained in writing on the punchlist <br />to Owner's satisfaction, <br /> <br />The preparation of a punchlist by Owner shall in no way <br />waive or alter any other rights of Owner under this <br />Contract pertaining to warranties, latent defect, etc. <br /> <br />13. Change Orders. Owner may alter this Contract by adding <br />to or deducting from or otherwise modifying the Work, <br />without invalidating this Contract. All such <br />changes shall be performed under the conditions of <br />the original contract, except that no extra work or <br />modif ication shall be done or paid for by Owner <br />without a written order from Owner. The Contract sum <br />shall be increased or decreased by an amount agreed to <br />in writing by the parties prior to the commencement of <br />any such change, which amount shall not include more <br />than 10% mark-up to Contractor. Contractor shall <br />provide adequate proof of cost of each such items, such <br />as subcontractor invoice, material bill, etc. <br /> <br />Any extension of time for the completion of the Work as <br />a result of Change Order shall be agreed to in the <br />written authorization for such Change Order. <br /> <br />All requests for payment under change orders must be <br />submitted to Owner within one week of Substantial <br />Completion. <br /> <br />14. Default by Contractor. If Contractor defaults or <br />neglects to carry out Contractor's Work in accordance <br />with the Contract, Owner may after seven (7) days <br />written notice to Contractor make good the deficiencies <br />and deduct the cost thereof from payments due <br />Contractor and may also, at Owner's election, ~erminate <br />this Contract by written notice to Contractor. If <br />Contractor fails to correct defective work or fails to <br />supply materials or equipment in accordance with this <br />Contract, Owner may also order Contractor to stop the <br />Work until it is corrected, and Contractor shall not be <br />entitled to an extension of time. <br /> <br />15. Owner's Inspections. Owner's Construction Manager <br />shall have the right to inspect the Work and reject any <br /> <br />RS 8236 5/89 <br /> <br />8 <br />