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<br />),; Owner shall make payments of the Project Sum to Contractor as set fonh below: <br /> <br />The General Contractor shall invoice on The Southland Corporation's <br />Invoice Affadavit of Contractor and Subcontractor form 8200047 <br />(supplied by owner), Payout request received should reflect work <br />place to date of invoice. The net amount earned is the total amount <br />completed to date minus 10% retainage. Draw Requests shall be submitted <br />to the owner on a timely basis, Final Draw Request shall be submitted <br />immediately following date of Final Inspection and receipt of all <br />Waivers of Lein, <br /> <br />. All sworn statements should have proper back-up and supportive <br />documentation. A General Contractor's Partial. Waiver of Lein <br />should be sumitted (properly endorsed and sealed) covering the <br />total amount currently requested for payment. <br /> <br />Partial Waivers of Lein should be submitted from each sub-contractor <br />covering the previous payment completely. <br /> <br />(Waivers of Lein should be submitted by each sub-contractor listed on <br />the first payout request, when the second request is made and so forth <br />until Final Draw Request), ' <br /> <br />Final Draw shall be paid upon receipt of Writtan Guarantees of work and/or <br />materials as required by the Plans and Specifications. <br /> <br />ARTICLE IV <br /> <br />GUARANTY BOND <br /> <br />d,l Conlractor (~ (shall not) obtain a performance or surety bond in form acceptable to Owner. <br /> <br />(,.2 Ovmer is not providing Builders Risk Coverage 8S stated in Article XIII. <br />Pug"! 5. <br /> <br />AR'ncu;: V <br /> <br />ASSIGNMENT <br /> <br />5 1 Owner has selected Contractor as general contractor for the Project because of Contractor's partICular antllll\:" <br /> <br />t.) rd0rm the Work. Therefore. Contractor shan not be permitted to assign. or broker. its duties and obligalion~ unl.kr <br /> <br />,~w Af'!fement. <br /> <br />,\ I{T'CLE VI <br /> <br />Tll\,tE OF COMMENCEMENT AND COMPLETION <br /> <br />6,1 The Work shall be commence~n contract sianing and completed 42 days thereafter <br /> <br />1:,\ \V1T~ESS WHEREOF, Owner and Contractor have executed the Agreement this <br />Oc i'otf'Y . 19 9 z- <br /> <br />j?8th <br /> <br />J;I~ (It <br /> <br />ow~rF.: <br /> <br />CONTRACTOR: <br /> <br /> <br />By <br /> <br /> <br />,. ,(') <br />---1~r ~5 . <br /> <br />f~'~ <br />