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ARTICLE 4 CONTRACT SUM 4.1 The Owner shall pay the Contractor the Contract Sum in current funds for the Contractor's performance of the Contract. The Contract Sum shall be Three hundred Fourty-eight Thousand, Five hundred Sixty-seven Dollars ($348 ,567 ), subject to additions and deductions as provided in the Contract Documents. 4.2 The Contract Sum is based upon the following alternates. if any. which are described in the Contract Documents and are hereby accepted by the Owner: (State the numbers or other identification of accepted alternates. If decisions on other alternates are to be made by the Owner subsequent to the execution of this Agreement, attach a schedule of such other alternates showing the amount for each and the date when that amount expires.) 4.3 Unit prices. if any. are as follows: An allowance of Five Thousand(S,OOO) dollars is included in the base bid for Landscape as enumerated in Addendum # 3. ARTICLE 5 PAYMENTS 5.1 PROGRESS PAYMENTS 5.1.1 Based upon Applications for Payment submitted to the Architect by the Contractor and Certificates for Payment issued by the Architect. the Owner shall make progress payments on account of the Contract Sum to the Contractor as provided below and elsewhere in the Contract Documents. 5.1.2 The period covered by each Application for Payment shall be one calendar month ending on the last day of the month. or as follows: 5.1.3 Provided that an Application for Payment is received by the Architect not later than the 1 s t day of a month. the Owner shall make payment to the Contractor not later than the 25th day of the month. If an Application for Payment is received by the Architect after the application date fixed above, pay- ment shall be made by the Owner not later than 2 5 days after the Architect receives the Applicration for Payment. 5.1.4 Each Application for Payment shall be based on the most recent schedule of values submit- ted by the Contractor in accordance with the Contract Documents. The schedule of values shall allocate the entire Contract Sum among the various portions of the Work. The schedule of values shall be prepared in such form and supported by such data to substantiate its accuracy as the Architect may require. This schedule. unless objected to by the Architect. shall be used as a basis for reviewing the Contractor's Applications for Payment. WARNING. Unlicensed photocopying violates U.S. copyright laws and wlllsubJec:t the vloloator to IegaII prosecution. I .8'11 <lo 0 O. .0 o. ..," ..<:) o'a::::o 'C). c::::::J \01997 AIAl>> AlA DOCUMENT A10l-1997 OWNER-CONTRACTOR AGREEMENT The American Institute of Architects 1735 New York Avenue, N.W. washington, D.C. 20006-52'12