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b) All monies paid to Contracto� shatl immediately become and constitute a trust fund and shall be applied by Contractor for the benefit of all persons supplying tabor, materials, or equipment in connection with the Co�tract and shali not be diverted to any other purpose until the claims of all such persons have been discharged. c) Payments, otherwise due the Cantractor, may be withheld on account of defective work not remedied, or claims filed or evidence ihat claims wiH be filed: or if the owner believes that the Contractor (i� can not complete the work tor the unpaid balance or (ii} can not perform within the time specified or (iii) does not have the financial ability to perform or (iv) lapses of insurance or faifure to provide evidence of insurance. Section 3.03 Condition ta Payments Except for any initial payment contained in Section 3.02, The Owner shall �ot be required to make any payments unless and until Contractor submit with each invoice a dufy signed and Notarized Waiver of Lien and an affidavit that Contracior has paid every worker employed by it and has re�eived partial (in the case of progress paymentsl and final (in the case of finat paymerit} Waivers of Lien from alt.subcontractors and material men supplying services and/or materials on the Project. Section 3.04 IVotice of Completion Upon completion of the Project, Contractor shafl notify Owner that the Project is ready for final inspection. Thereafter, Qwner shall promptly inspect the Project and, if it meets with the contracted saecifications, make final payment. Section 3.05 Fingl Payment Neither Payment to Contractor, nor any acceptance, occupation, or utiiization of the Project or any part thereof by Owner shall relieve Contraetor of liabitity for funds owed to any subcontractors or material men; for defective materiats; or workmanship used in the construction of the Project; or for failure to construci the Project according to the requirements of the Contract. The acceptance of final payment shall constitute a waiver of a!f claims by Contractor against the Owner except those previously made in writing and stilE unsetded. Section 3.06 Termination If the Contractor fails ro perform in accordance with ihe terms of this Contract, or if the Owner is not satisfied with the progress or quality of the Contractor's work, Owner shal{ be entitled to terminate this Contract upon giving written notice to Contractor. In the event of suct� termination, Contractor shaN be entitled to payment for services, labor and materials ta date; provided however, Owner does not dispute such obligation in the notice of termination. Termination u�der this provision is not a waiver of any remedies in law or equity that Owner has for breach of contract, tort or any other iheory available under Florida law or this Contract. All such rights are reserved by owner. Nothing herein shall limit any rights contractor may have under this Contract. ARTICLE 4. PERMITS. TAXES. COMPLIANCE Section /�.01 Permits and fees Contractor shalt secure the building permit, if required, at Owner's cost; and Contractor shal! secure at its own cost other such permits, inspectio�s, licenses, and approvals as may be required under all appticable building codes, ordinances, laws or regulstions for the Work. Should any patented article, design or process be used in the construction of the Project, Contractor shall obtain the right to use the same, shail pay all royalties and license fees chargeable or occurring because of such use, arid shall defend and hold Owner and its property free and harmless from all cast, demands, suits and liabilities arising because of such use. Section 4.02 Taxes Contractor shall pay employment and payroll taxes and contri6utions now or hereafter with respect to all persons employed by the Contractor. Section 4.03 Compliance with the Law 2 (Rev 9/IOj