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ARTICLE 4 CONTRACT SliM Company will pay the Contral:!or in (;urrent funds fllr the Contra(;tor's pcrformall(;c of the Contral:! the Slllll of Furty Four Thousand, Five Hundred Forty Nine Dollars and No Cents ($44,549.00) (the "Contract Sum"), subject to additions and dedu(;tions and at the times as provided in the Master Agreement. The Contral:! Sum is hased upon the following alternates, if any. whi(;h are dcs(;rihcd in the Contral:! Documents, and are herehy accepted hv Company: (State the numbers or other identification of accepted altemates. If decisions on other altemates are to be made by Company subsequent to the execution of this Construction.Dl:der, attach a schedule o.fsuch other altemates showing the amount for each and the date until which that amount is valid.) N/A Unit prices, if any, are as follows: NlA ARTICLE 5 1'R0GRltSSPAYMENTS---- Based upon Applications for Payment submitted to the Company by the Contractor, Company will make progress payments on 8CCOlDlt of the ContraCt Smn to the Contractor as provided below and elsewhere in the Contract Documents. The Contract Swn will be paid during the Progress Billing Period, upon Contractor's Application for Payment, as follows: 1. Sixty percent (60%) of the Contract Swn will be payable when the Work is approximately f1fty percent (50%) complete. The determination of when the Work is fifty percent (50"/0) complete will be determined by mutual agreement between the Company and the Contractor. 2. Forty percent (40%) of the Contract Swn will be payable upon Final Completion of the Work in accordance with the Contract Documents. Payment of Applications for Payment will be made as provided in the Master Agreement or elsewhere in the Contract Docwnents. Any disputes between Contractor and the Company as to payments to be made or percentage of completion of Work will be resolved as provided in the Master Agreement. Each Application for Payment must be based upon the schedule of values submitted by the Contractor in ac<:oordance with the Contract Documents. The schedule of values must allocate the entire Contract Sum among the various portions of the Work and be prepared in su(;h form and supported by su(;h data to substantiate its au:ura(;y as the Company may require. This schedule of values will be used by the Company as a basis for reviewing the AppliCc1tions for Payment. Applications for Payment must indi\:8te the pcn.:entage of wmpletion of ea(;h portion of the Work as of the end of the period wvered by the Appli\:8tion for Payment July 2000