Laserfiche WebLink
<br />ARTICLE 6 <br />FINAL PAYMENT <br /> <br />Final payment, constituting the entire unpaid balance of the Contract Sum, shall be made by lhe OWIlLT 10 lhe COlllractor wl1el1 ( I) <br />the Contract has been fully performed by the Contraclor except for the Contractor's respollsibility to correct nOIll'ol1forl1llllg <br />Work as provided in Subparagraph 12.2,2 of the (;eneral Conditions and to s~ltisfv olher requirl'ments, if any, which necessanil <br />survive fmal payment; and (2) a final Certificale for Payml'nt has been issued by the Architect; such final payml'nt shall be made bv <br />the Owner nO! more than 30 days after the issuance of lhe Architccl's final Certitkate for Payment, or ;lS follows: <br /> <br />ARTICLE 7 <br />MISCELLANEOUS PROVISIONS <br /> <br />7.1 Where reference is made in this Agreement to a provision of I he (jeneral Conditions or another Contract !)O<.'lllllt'llt. llw I'd <br />erence refers to that provision as amended or supplemented by other provisions of lhe COl1tract !)O<.'l1l11eIltS <br /> <br />7.2 Payments due and unpaid under the Conlract shall bear interest from lhe dale paymellt is due at the raIl' ,sutnl bel()\\'. <ll' III <br />the absence thereof, at the legal rate prevailing from time to lime at the place where the Project is located. <br /> <br />(Insert rate of ill/erest agreed "pm.. ,f allY.) <br /> <br />(Usury laU's and requirements under/be Federa' Trulh in renclin,e:. Act, similar st(lle and local COilS toner 'Ttlelit lalc, and other r(,""lilati(lus at the ()U?ler ',\ (illt( <br />Contractor 's prillC1jJ(I'/Jlm,:es of busiNess. the localiuN u/ th" 1)1'(~f('(/ Clllclcls(,fdwr(' may (~/](Jcllhe I'ulidil.l' nllhis !)f'(w;st'nn j.f!!<al adl'lt.(' shuuld hl' IJhfrln!t'd <br />with respect to {/(Jle(ifl1/s or m()tI~'(ic:tlti()I1"', (/Nd alsu r(!,~((rdln,1.!, 1'l'(!"irem(,flts slic:h as written (/I...c:/I),,,,,,.('s fir ff'(ill'('r... ) <br /> <br />7.3 Other provisions: <br /> <br />ARTICLE 8 <br />TERMINATION OR SUSPENSION <br /> <br />8.1 The Contract may be terminated by the Owner or the Contractor as provided In Article 14 of the General Conditiolls <br />8.2 The Work may he suspended by the OWlll'l' ;IS prO\'itled III Article 1'1 of lhe C;l'lll'l'al COllditiollS. <br /> <br />AlA DOCUMENT A101 . OWNER-CONTRACTOR M;REEMFNT . TWEI.FTH FlJIllON . AlA'" . (e' 19H~ <br />THE AMERICAN INSTITUTE OF ARCHITECTS, 17j5 NEW YORK AVENUE, N.W, WASHINGTON, DL 2()()()() <br /> <br />A101-1987 5 <br />