Common use of FINAL COMPLETION AND FINAL PAYMENT Clause in Contracts

FINAL COMPLETION AND FINAL PAYMENT. § 10.10.1 Upon receipt of the CM/GC’s written notice that the Work is ready for final inspection and acceptance and upon receipt of a final Application for Payment, the Design Professional will promptly make such inspection and, when the Design Professional finds the Work acceptable under the Contract Documents and the Contract fully performed, the Design Professional will promptly issue a final Certificate for Payment stating that to the best of the Design Professional’s knowledge, information and belief, and on the basis of the Design Professional’s on-site visits and inspections, the Work has been completed in accordance with terms and conditions of the Contract Documents and that the entire balance found to be due the CM/GC and noted in the final Certificate is due and payable. The Design Professional’s Certificate for Final Payment will constitute a further representation that conditions listed in Section 10.10.2 as precedent to the CM/GC’s being entitled to final payment have been fulfilled. § 10.10.2 Neither final payment nor any remaining retained percentage shall become due until the CM/GC submits to the Design Professional the following which shall be a condition precedent to final payment: .1 An affidavit that all of the CM/GC's obligations to subcontractors, laborers, equipment or material suppliers or other third parties in connection with the Project have been paid or otherwise satisfied, less amounts withheld by Owner; .2 A release by the CM/GC of all Claims it has or might have against the Owner or the Owner's property (DPW’s form, Exhibit H);

FINAL COMPLETION AND FINAL PAYMENT. § 10.10.1 Upon receipt of the CM/GC’s written notice that the Work is ready for final inspection and acceptance and upon receipt of a final Application for Payment, the Design Professional will promptly make such inspection and, when the Design Professional finds the Work acceptable under the Contract Documents and the Contract fully performed, the Design Professional will promptly issue a final Certificate for Payment stating that to the best of the Design Professional’s knowledge, information and belief, and on the basis of the Design Professional’s on-site visits and inspections, the Work has been completed in accordance with terms and conditions of the Contract Documents and that the entire balance found to be due the CM/GC and noted in the final Certificate is due and payable. The Design Professional’s Certificate for Final Payment will constitute a further representation that conditions listed in Section Article 10.10.2 as precedent to the CM/GC’s being entitled to final payment have been fulfilled. § 10.10.2 Neither final payment nor any remaining retained percentage shall become due until the CM/GC submits to the Design Professional the following which shall be a condition precedent to final payment: .1 An affidavit that all of the CM/GC's obligations to subcontractors, laborers, equipment or material suppliers or other third parties in connection with the Project have been paid or otherwise satisfied, less amounts withheld by Owner; .2 A release by the CM/GC of all Claims it has or might have against the Owner or the Owner's property (DPW’s form, Exhibit H);

FINAL COMPLETION AND FINAL PAYMENT. § 10.10.1 9.10.1 Upon receipt of the CM/GCContractor’s written notice that the Work is ready for final inspection and acceptance and upon receipt of a final Application for Payment, the Design Professional Architect will promptly make such inspection and, when inspection. When the Design Professional Architect finds the Work acceptable under the Contract Documents and the Contract fully performed, the Design Professional Architect will promptly issue a final Certificate for Payment written notice to the Owner, with a copy to the Contractor stating that to the best of the Design ProfessionalArchitect’s knowledge, information and belief, and on the basis of the Design ProfessionalArchitect’s on-site visits and inspections, the Work has been completed in accordance with terms and conditions of the Contract Documents and that the entire balance found to be due the CM/GC Contractor and noted in the final Certificate is due and payable. The Design Professional’s is due and payable. If the Owner agrees and approves, the Owner will direct the Architect to issue the final Certificate for Final Payment. The Architect’s final Certificate for Payment will constitute a further representation that conditions listed in Section 10.10.2 9.10.2 as precedent to the CM/GCContractor’s being entitled to final payment have been fulfilled. § 10.10.2 9.10.2 Neither final payment nor any remaining retained percentage shall become due until the CM/GC Contractor submits to the Design Professional the following which shall be a condition precedent to final payment: .1 An Architect (1) an affidavit that all of the CM/GC's obligations to subcontractorspayrolls, laborersbills for materials and equipment, equipment or material suppliers or and other third parties in connection indebtedness connected with the Project Work for which the Owner or the Owner’s property might be responsible or encumbered (less amounts withheld by Owner) have been paid or otherwise satisfied, less amounts withheld by Owner; .2 A release (2) a certificate evidencing that insurance required by the CM/GC Contract Documents to remain in force after final payment is currently in effect, (3) a written statement that the Contractor knows of all Claims it has or might have against no reason that the Owner or insurance will not be renewable to cover the Owner's property (DPW’s form, Exhibit H);period required by the Contract Documents,