Common use of PAYMENT AND FEE SCHEDULE Clause in Contracts

PAYMENT AND FEE SCHEDULE. 5.1. The County shall pay the Contractor for services furnished under this Agreement, and the Contractor shall accept as full payment for those services, the sum of one hundred seventy thousand sixty dollars and thirty four cents ($170,060.34). 5.2. The Contractor shall maintain hourly records of time worked by its personnel to support any audits the County may require, and shall ▇▇▇▇ the County monthly for costs accrued during the preceding month. Payments on these ▇▇▇▇▇▇▇▇ will be subject to estimates prepared by the Project Manager of the value of work performed and materials delivered and materials placed in accordance with the specifications. Upon submission of such ▇▇▇▇▇▇▇▇ to the County and approval by the Project Manager, payment shall be issued. It is understood and agreed that the County may require a maximum of thirty-one (31) days to process payment after receiving billing in proper the form. 5.3. The County may deduct money from the partial payments in an amount necessary to protect the interests of the County, and is dependent upon the following: 5.3.1. If the Agreement is for one hundred fifty thousand dollars ($150,000) or more, the County shall withhold five percent (5%) of monthly partial payments until the contract is completed satisfactorily and finally accepted by the County. For Agreements less than one hundred fifty thousand dollars ($150,000), the County may withhold more than five percent (5%). 5.3.2. All money withheld pursuant to this section shall be retained by the County no more than thirty (30) days after the project has been completed to satisfaction and has been finally accepted by the County. If the County finds that satisfactory progress is being made in all phases of the Agreement, the County may, upon written request of the Contractor, authorize payment from the withheld percentage. Before such payment is made, the County shall determine that satisfactory and substantial reasons exist for the payment, and shall require written approval from any surety furnishing bonds for the work performed under the terms of this Agreement.

PAYMENT AND FEE SCHEDULE. 5.14.1. The County shall pay the Contractor for services furnished under this Agreement, and the Contractor shall accept as full payment for those services, the sum of one hundred seventy thousand sixty dollars and thirty four cents ($170,060.34$ ). 5.24.2. The Contractor shall maintain hourly records of time worked by its personnel to support any audits the County may require, and shall ▇▇▇▇ bill the County monthly for costs accrued during the preceding month. Payments on these ▇▇▇▇▇▇▇▇ will be subject to estimates prepared by the Project Manager of the value of work performed and materials delivered and materials placed in accordance with the specifications. Upon submission of such ▇▇▇▇▇▇▇▇ to the County and approval by the Project Manager, payment shall be issued. It is understood and agreed that the County may require a maximum of thirty-one (31) days to process payment after receiving billing in proper the form. 5.34.3. The County may deduct money from the partial payments in an amount necessary to protect the interests of the County, and is dependent upon the following: 5.3.14.3.1. If the Agreement is for one hundred fifty thousand dollars ($150,000) or more, the County shall withhold five percent (5%) of monthly partial payments until the contract is completed satisfactorily and finally accepted by the County. For Agreements less than one hundred fifty thousand dollars ($150,000), the County may withhold more than five percent (5%). 5.3.24.3.2. All money withheld pursuant to this section shall be retained by the County no more than thirty (30) days after the project has been completed to satisfaction and has been finally accepted by the County. If the County finds that satisfactory progress is being made in all phases of the Agreement, the County may, upon written request of the Contractor, authorize payment from the withheld percentage. Before such payment is made, the County shall determine that satisfactory and substantial reasons exist for the payment, and shall require written approval from any surety furnishing bonds for the work performed under the terms of this Agreement.

PAYMENT AND FEE SCHEDULE. 5.1. The County shall pay the Contractor for services furnished under this Agreement, and the Contractor shall accept as full payment for those services, the sum of one hundred seventy thousand sixty dollars and thirty four cents ($170,060.34). 5.2. The Contractor shall maintain hourly records of time worked by its personnel to support any audits the County may require, and shall ▇▇▇▇ the County monthly for costs accrued during the preceding month. Payments on these ▇▇▇▇▇▇▇▇ will be subject to estimates prepared by the Project Manager of the value of work performed and materials delivered and materials placed in accordance with the specifications. Upon submission of such ▇▇▇▇▇▇▇▇ to the County and approval by the Project Manager, payment shall be issued. It is understood and agreed that the County may require a maximum of thirty-one (31) days to process payment after receiving billing in the proper the form. 5.3. The County may deduct money from the partial payments in an amount necessary to protect the interests of the County, and is dependent upon the following: 5.3.1. If the Agreement is for one hundred fifty thousand dollars ($150,000) or more, the County shall withhold five percent (5%) of monthly partial payments until the contract is completed satisfactorily and finally accepted by the County. For Agreements less than one hundred fifty thousand dollars ($150,000), the County may withhold more than five percent (5%). 5.3.2. All money withheld pursuant to this section shall be retained by the County no more than thirty (30) days after the project has been completed to satisfaction and has been finally accepted by the County. If the County finds that satisfactory progress is being made in all phases of the Agreement, the County may, upon written request of the Contractor, authorize payment from the withheld percentage. Before such payment is made, the County shall determine that satisfactory and substantial reasons exist for the payment, payment and shall require written approval from any surety furnishing bonds for the work performed under the terms of this Agreement.