Common use of Progress Payments; Retainage Clause in Contracts

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at the preconstruction conference during performance of the Work as provided in Paragraphs 6.02.A.1 and 6.02.A.2 below. All such payments will be measured by the schedule of values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements: 1. Prior to Substantial Completion, Owner will retain an amount equal to 8% of each progress payment application until 50% of the Work has been completed. At 50% completion, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when the character and progress of the Work is not satisfactory to Owner on the recommendation of Engineer, additional amounts may be retained, but in no event shall the total retainage be more than 8% of the value of the Work completed. 2. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% percent of the Work completed, less such amounts as Engineer shall determine in accordance with Paragraph 14.02.B.5 of the General Conditions and less 100% percent of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion.

Progress Payments; Retainage. A. Owner OWNER shall make progress payments on account of the Contract Price on the basis of Contractor’s CONTRACTOR's Applications for Payment as established at recommended by ENGINEER, on or about the preconstruction conference during performance Friday following either the first or third Thursday of each month, depending upon the Work timing of submittals and approvals, as provided in Paragraphs paragraphs 6.02.A.1 and 6.02.A.2 below. All such payments will be measured by the schedule of values established as provided in Paragraph paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements: 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8the percentage indicated below, but, in each case, less the aggregate of payments previously made and less such amounts as ENGINEER shall determine or OWNER may withhold, in accordance with NRS 338.525 or paragraph 14.02 of the General Conditions: a. 95% of each progress payment application until 50% of the Work completed (with balance being retainage). If Work has been completed. At 50% completioncompleted as determined by ENGINEER, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner OWNER and ENGINEER, OWNER, on the recommendation of EngineerENGINEER, additional amounts may determine that as long as the character and progress of the Work remain satisfactory to them, there will be retainedno retainage on account of Work subsequently completed, but in no event shall which case the total retainage remaining progress payments prior to Substantial Completion will be more than 8in an amount equal to 100% of the value Work completed less the aggregate of payments previously made; and b. 95% of cost of materials and equipment not incorporated in the Work completed(with the balance being retainage). 2. Upon Substantial Completion, Owner OWNER shall pay an amount sufficient to increase total payments to Contractor CONTRACTOR to 9897.5% percent of the Work completed, less such amounts as Engineer ENGINEER shall determine in accordance with Paragraph paragraph 14.02.B.5 of the General Conditions and less 100100 % percent of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion.

Progress Payments; Retainage. A. Owner shall will make monthly progress payments on account of the Contract Price on the basis of Contractor’s Applications Application for Payment as established at recommended by Engineer each month during the preconstruction conference during performance of the Work construction as provided in Paragraphs 6.02.A.1 and 6.02.A.2 below. All such progress payments will be on the basis of the progress of Work measured by the schedule of values established as provided in Paragraph 2.07.A 2.05 of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements:. 1. Prior to Substantial CompletionB. After each Application for Payment has been found acceptable by the Owner, Owner will retain an amount equal to 8% of each progress payment application until 50pay 95% of the Work has been completedestimated value less any previous payments to Contractor until the project is 50% complete. At 50% completion, further progress payment applications shall payments will be paid made in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner determines that the job character and progress of the Work is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the WorkContractor. At 50% completion of the Work, or any time thereafter when the character and progress of the Work is not satisfactory to Owner on the recommendation of Engineersatisfactory, additional amounts may be retained, retained but in no event shall the total retainage be more than 810% of the value of the Work completed. 2. C. Upon Substantial CompletionCompletion of the Work, the amount retained may be reduced. When the Work has been Substantially Completed except for Work which cannot be completed because of weather conditions, lack of materials or other reason which, in the judgment of Owner are valid reasons for non-completion, Owner shall pay may make additional payments, retaining at all times an amount sufficient to increase total payments to Contractor to 98% percent cover the estimated cost of the Work completed, less such amounts as Engineer shall determine in accordance with Paragraph 14.02.B.5 of the General Conditions and less 100% percent of Engineer’s estimate of the value of Work work still to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completioncorrected.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at the preconstruction conference during performance recommended by Engineer and as otherwise specified in Paragraph 14.02 of the Work as provided in Paragraphs 6.02.A.1 and 6.02.A.2 belowGeneral Conditions. All such payments will be measured by the schedule of values established as provided in Paragraph 2.07.A 2.05.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements:. 1. B. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 890% percent of Work completed (with the balance being retainage), but, in each progress payment application until 50% case, less the aggregate of payments previously made and less such amounts as Engineer may determine or Owner may withhold, including but not limited to liquidated damages, in accordance with Paragraph 14.02 of the Work has been completed. At 50% completion, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when the character and progress of the Work is not satisfactory to Owner on the recommendation of Engineer, additional amounts may be retained, but in no event shall the total retainage be more than 8% of the value of the Work completedGeneral Conditions. 2. C. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 9895% percent of the Work completed, less such amounts as Engineer shall determine in accordance with Paragraph 14.02.B.5 of the General Conditions and less 100% percent of EngineerOwner’s estimate determination of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion. D. All applications for progress payments shall be accompanied by a conditional lien release and, for payments after the first, an affidavit of payment.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s 's Applications for Payment as established at recommended by Engineer, on or about the preconstruction conference fifteenth (15th) day of each month during performance of the Work construction as provided in Paragraphs 6.02.A.1 paragraphs 5.1.1 and 6.02.A.2 5.1.2 below. All such payments will be measured by the schedule of values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, . Payments to the Contractor shall in the event there is no schedule way imply approval or acceptance of values, as provided in the General Requirements:Contractor’s work 1. 5.1.1 Prior to Substantial Completioncompletion, Owner payments will retain be made in an amount equal to 8the percentage indicated below, but, in each case, less the aggregate of payments previously made and less such amounts as Engineer shall determine, or Owner may withhold. 95 % of each progress payment application until Work completed (with the balance being retainage). Once the Contractor completes at least 50% of the Work has been completedbased on approved pay applications, the retainage will be reduced from 10% to 5% for the remainder of the project. At Therefore, following completion of at least 50% completion, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when the character Contractor may be paid 95 % of Work completed (with the balance being retainage). 95 % (with the balance being retainage) of materials and progress equipment not incorporated in the Work (but delivered, suitably stored and accompanied by documentation satisfactory to Owner). Once the Contractor completes at least 50% of the Work is not satisfactory based on approved pay applications, the retainage will be reduced from 10% to Owner on 5% for the recommendation remainder of Engineerthe project. Therefore, additional amounts may be retained, but in no event shall the total retainage be more than 8following completion of at least 50% of the value Work, the Contractor may be paid 95 % of materials and equipment not incorporated in the Work completed(but delivered, suitably stored and accompanied by documentation satisfactory to Owner). 2. 5.1.2 Upon Substantial Completion, Owner shall pay in an amount sufficient to increase total payments to Contractor to 9895 % percent of the Work completedContract Price (with the balance being retainage), less such amounts as Engineer shall determine in accordance with Paragraph 14.02.B.5 of the General Conditions and less 100% percent of Engineer’s estimate of the value of Work determine, or Owner may withhold.. 5.1.3 Retainage requirements may be changed to be completed or corrected as shown on the tentative list of items reflect a proposed change to be completed or corrected attached to the certificate of Substantial Completionstate regulatory statutes.

Progress Payments; Retainage. A. Owner OWNER shall make progress payments on account of the Contract Price on the basis of Contractor’s CONTRACTOR's Applications for Payment as established at recommended by ENGINEER, on or about the preconstruction conference 1st day of each month during performance of the Work construction as provided in Paragraphs 6.02.A.1 paragraphs 6.2.A.1 and 6.02.A.2 6.2.A.2 below. All such payments will be measured by the schedule of values established as provided in Paragraph 2.07.A paragraph 2.03.A.3 of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements:. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8the percentage indicated below, but in each case, less the aggregate of payments previously made and less such amounts as ENGINEER shall determine, or OWNER may withhold, in accordance with paragraph 15.01 of the General Conditions. a. 95% of each progress payment application until 50% of Work completed (with the balance being retainage). If Work has been completed. At 50% completioncompleted as determined by ENGINEER, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner OWNER and ENGINEER, OWNER on the recommendation of EngineerENGINEER, additional amounts may be retained, but in no event shall determine that as long as the total retainage be more than 8% character and progress of the value Work remain satisfactory to them, there will be no additional retainage on account of Work completed, in which case the remaining progress payments prior to Substantial Completion will be in an amount equal to 100% of the Work completed. b. 95% (with the balance being retainage) of materials and equipment not incorporated in the Work (but delivered, suitably stored and accompanied by documentation satisfactory to OWNER. 2. Upon Substantial Completion, Owner OWNER shall pay an amount sufficient to increase total payments to Contractor to 98CONTRACTOR 97.5% percent of the Work completedcompleted (with the balance being retainage), less such amounts as Engineer ENGINEER shall determine in accordance with Paragraph 14.02.B.5 paragraph 15.01 of the General Conditions and less 100% percent of EngineerENGINEER’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at the preconstruction conference recommended by Engineer on a monthly basis during performance of the Work as provided in Paragraphs 6.02.A.1 and 6.02.A.2 Paragraph 5.02.A.1 below. All such payments will be measured by the schedule of values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided elsewhere in the General Requirements:Contract Documents. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentage indicated below but, in each case, less the aggregate of each progress payment application until 50% of payments previously made and less such amounts as Owner may withhold, including but not limited to liquidated damages, in accordance with the Work has been completed. At 50% completion, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when the character and progress of the Work is not satisfactory to Owner on the recommendation of Engineer, additional amounts may be retained, but in no event shall the total retainage be more than 8% of the value of the Work completedContract Documents. 2. The Owner shall withhold five percent (5%) of the dollar value for all work for the project. When the Work is substantially complete (operational or beneficial occupancy), the retained amount may be reduced below five percent (5%) to only that amount necessary to assure completion. On completion and acceptance on a part of the Work on which the price is stated separately in the Contract Documents, payment may be made in full, including retained percentages, less authorized deductions. B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% one hundred percent (100%) of the Work completed, less such amounts as Engineer shall determine in accordance with set off by Owner pursuant to Paragraph 14.02.B.5 15.01.E of the General Conditions Conditions, and less 100% two hundred percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative punch list of items to be completed or corrected attached prior to the certificate of Substantial Completionfinal payment.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at the preconstruction conference during performance of the Work as provided in Paragraphs Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and 6.02.A.2 belowotherwise meet the requirements of the Contract. All such payments will be measured by the schedule Schedule of values Values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule Schedule of valuesValues, as provided elsewhere in the General Requirements:Contract. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentage indicated below but, in each case, less the aggregate of each progress payment application until 50% payments previously made and less such amounts as Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract a. 90 percent of Work completed (with the balance being retainage). If the Work has been completed. At 50% completion50 percent completed as determined by Engineer, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner on the recommendation of and Engineer, additional amounts may be retained, but in no event shall then as long as the total retainage be more than 8% of the value character and progress of the Work completedremain satisfactory to Owner and Engineer, payment will be made for 95 percent of work completed (with balance being retained.) b. 90 percent of cost of materials and equipment not incorporated in the Work (with the balance being retainage). 2. B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% 100 percent of the Work completed, less such amounts as Engineer shall determine in accordance with set off by Owner pursuant to Paragraph 14.02.B.5 15.01.E of the General Conditions Conditions, and less 100% 150 percent of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative punch list of items to be completed or corrected attached prior to the certificate of Substantial Completionfinal payment.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at on or about the preconstruction conference day of the Owner’s regularly scheduled and advertised monthly meeting during performance of the Work as provided in Paragraphs Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and 6.02.A.2 belowotherwise meet the requirements of the Contract. All such payments will be measured by the schedule Schedule of values Values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule Schedule of valuesValues, as provided elsewhere in the General Requirements:Contract. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentage indicated below but, in each case, less the aggregate of each progress payment application until 50% payments previously made and less such amounts as Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract a. 90 _ percent of Work completed (with the balance being retainage). If the Work has been completed. At 50% completion50 percent completed as determined by Engineer, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner on the recommendation of and Engineer, additional amounts may be retained, but in no event shall then as long as the total retainage be more than 8% of the value character and progress of the Work completedremain satisfactory to Owner and Engineer, retainage will be reduced from 10% to 5%; and b. _90_ percent of cost of materials and equipment not incorporated in the Work (with the balance being retainage). 2. B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% _100_ percent of the Work completed, less such amounts as Engineer shall determine in accordance with set off by Owner pursuant to Paragraph 14.02.B.5 15.01.E of the General Conditions Conditions, and less 100% _150_ percent of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative punch list of items to be completed or corrected attached prior to the certificate of Substantial Completionfinal payment.

Progress Payments; Retainage. A. Owner OWNER shall make progress payments on account of the Contract Price on the basis of Contractor’s CONTRACTOR’S Applications for Payment as established at on or about the preconstruction conference last day of each month during performance of the Work as provided in Paragraphs paragraphs 6.02.A.1 and 6.02.A.2 below. All such payments will be measured by the schedule of values established as provided in Paragraph paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements: 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8the percentage indicated below but, in each case, less the aggregate of payments previously made and less such amounts as ENGINEER may determine or OWNER may withhold, in accordance with paragraph 14.02 of the General Conditions: (a) 90% of each progress payment application until 50% of Work completed (with the balance being retainage). If the Work has been completed. At 50% completioncompleted as determined by ENGINEER, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner OWNER and ENGINEER, OWNER, on the recommendation of EngineerENGINEER, additional amounts may determine that as long as the character and progress of the Work remain satisfactory to them, there will be retainedno retainage on account of Work subsequently completed, but in no event shall which case the total retainage remaining progress payments prior to Substantial Completion will be more than 8in an amount equal to 100% of the value Work completed less the aggregate of payments previously made; and (b) 90% of cost of materials and equipment not incorporated in the Work completed(with the balance being retainage). 2. Upon Substantial Completion, Owner OWNER shall pay an amount sufficient to increase total payments to Contractor CONTRACTOR to 98100% percent of the Work completed, less such amounts as Engineer ENGINEER shall determine in accordance with Paragraph paragraph 14.02.B.5 of the General Conditions and less 100% percent of EngineerENGINEER’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion.

Progress Payments; Retainage. A. Owner OWNER shall make progress payments on account of the Contract Price on the basis of ContractorCONTRACTOR’s Applications for Payment as established at recommended by ENGINEER, on or about the preconstruction conference 5th Day of each month during performance of the Work construction as provided in Paragraphs paragraphs 6.02.A.1 and 6.02.A.2 6.02A.2 below. All such payments will be measured by the schedule of values established as provided in Paragraph paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements:. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8the percentage indicated below, but, in each case, less the aggregate of payments previously made and less such amounts as ENGINEER may determine, or OWNER may withhold, in accordance with paragraph 14.02 of the General Conditions. a. 90 % of each progress payment application until 50% of Work completed (with the balance being retainage). If Work has been completed. At 50% completioncompleted as determined by ENGINEER, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner OWNER and ENGINEER, OWNER, on the recommendation of EngineerENGINEER, may determine that as long as the character and progress of the Work remain satisfactory to them, there will be no additional amounts may retainage on account of Work subsequently completed, in which case the remaining progress payments prior to Substantial Completion will be retained, but in no event shall the total retainage be more than 8an amount equal to 100% of the value Work completed less the aggregate of payments previously made; and b. 50 % (of cost) of materials and equipment not incorporated in the Work completed(but with the balance being retainage). 2. Upon Substantial Completion, Owner the OWNER shall pay an amount sufficient to increase total payments to Contractor CONTRACTOR to 9895% percent of the Work completed, work completed less such amounts as Engineer ENGINEER shall determine determine, in accordance with Paragraph paragraph 14.02.B.5 or of the General Conditions and less 100% percent _100_% of EngineerENGINEER’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at on or about the preconstruction conference 30th* day of each month during performance of the Work as provided in Paragraphs Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and 6.02.A.2 belowotherwise meet the requirements of the Contract. All such payments will be measured by the schedule Schedule of values Values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule Schedule of valuesValues, as provided elsewhere in the General Requirements:Contract. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentage indicated below but, in each case, less the aggregate of each progress payment application until 50% payments previously made and less such amounts as Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. [number]90 percent of the value of the Work completed (with the balance being retainage). 1) If 50 percent or more of the Work has been completed. At 50% completion, further progress payment applications shall be paid in full to the Contractor as determined by Engineer, and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner on the recommendation of and Engineer, additional amounts may be retained, but in no event shall then as long as the total retainage be more than 8% of the value character and progress of the Work completedremain satisfactory to Owner and Engineer, there will be no additional retainage; and b. [number]90 percent of cost of materials and equipment not incorporated in the Work (with the balance being retainage). 2. B. Upon Substantial CompletionCompletion of the entire construction to be provided under the construction Contract Documents, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% 97.5 percent of the Work completed, less such amounts as Engineer shall determine in accordance with set off by Owner pursuant to Paragraph 14.02.B.5 15.01.E of the General Conditions Conditions, and less 100% 100 percent of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative punch list of items to be completed or corrected attached prior to final payment. * Unless adjusted at the certificate of Substantial CompletionPre Construction Conference.

Progress Payments; Retainage. A. Owner CITY shall make progress payments on account of the Contract Price on the basis of Contractor’s CONTRACTOR's Applications for Payment as established at recommended by DESIGN PROFESSIONAL, on or about the preconstruction conference first day of each month during performance of the Work construction as provided in Paragraphs 6.02.A.1 and 6.02.A.2 belowherein. All such payments will be measured by the schedule of values established as provided in Paragraph 2.07.A paragraph 2.7 of the General Conditions (and in the case of Unit Price Work Work, based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements:Specifications. 15.1.1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8the percentage indicated below, but, in each case, less the aggregate of payments previously made and less such amounts as DESIGN PROFESSIONAL shall determine, or CITY may withhold, in accordance with paragraph 14.4.4 of the General Conditions:  95% of each progress payment application Work completed, with the balance being retainage. The withheld percentage of the contract price shall be retained until 50the contract is completed satisfactorily and finally accepted by CITY.  95% of materials and equipment not incorporated in the Work has been completed(but delivered, suitably stored and accompanied by documentation satisfactory to CITY as provided in paragraph 14.2. At 50% completionof the General Conditions), further progress payment applications with the balance being retainage. The withheld percentage of the contract price shall be paid in full to retained until the Contractor contract is completed satisfactorily and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when the character and progress of the Work is not satisfactory to Owner on the recommendation of Engineer, additional amounts may be retained, but in no event shall the total retainage be more than 8% of the value of the Work completedfinally accepted by CITY. 25.1.2. Upon Substantial Completion, Owner payments shall pay be made in an amount sufficient to increase total payments to Contractor CONTRACTOR to 98at least 95% percent of the Work completedContract Price, if in the opinion of the CITY, satisfactory progress had been made in the Work, (with the balance being retainage), less such amounts as Engineer DESIGN PROFESSIONAL shall determine determine, or CITY may withhold, in accordance with Paragraph 14.02.B.5 paragraph 14.4.4 of the General Conditions and less 100% percent Conditions. 5.1.3. Whenever CONTRACTOR receives payment pursuant to this paragraph 5.1., CONTRACTOR shall make payments to each of Engineerits Subcontractors of any amounts actually received that were included in CONTRACTOR’s estimate request for payment to CITY for such Subcontracts. CONTRACTOR shall make such payments within seven calendar days of receipt of payment from CITY in the same manner as CITY is required to pay CONTRACTOR pursuant to this paragraph 5.1 if the Subcontractor is satisfactorily performing under its contract with CONTRACTOR. CONTRACTOR shall be relieved of the value requirements of Work this paragraph regarding payment in seven days and the payment of interest until its Subcontractor submits the list required by paragraph 5.1.4. Nothing in this paragraph 5.1.3 shall be construed to be completed affect the retention provisions of this Agreement, or corrected the CONTRACTOR’S obligation to pay Subcontractors pursuant to Section ▇▇-▇▇-▇▇▇, C.R.S. (as shown on amended). 5.1.4. CONTRACTOR shall include a provision in all of its subcontracts requiring its Subcontractors to pay all Suppliers, sub-subcontactors, and laborers any amounts actually received that were included in the tentative Subcontractor’s request for payment to CONTRACTOR for such persons, in the same manner set forth in this paragraph 5.1 regarding payments by CONTRACTOR to the Subcontractor. Further, all said subcontracts shall include a provision that at the time the Subcontractor submits a request for payment to the CONTRACTOR, the Subcontractor shall also submit to the CONTRACTOR a list of items to be completed or corrected attached to the certificate of Substantial CompletionSubcontractor’s Suppliers, sub-subcontractors, and laborers.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at the preconstruction conference on a monthly basis during performance of the Work as provided in Paragraphs 6.02.A.1 and 6.02.A.2 Paragraph 5.02.A.1 below. All such payments will be measured by the schedule of values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements:. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentage indicated below but, in each case, less the aggregate of payments previously made and less such amounts as Engineer may determine or Owner may withhold, including but not limited to liquidated damages, in accordance with Paragraph 14.02 of the General Conditions. 2. The Owner shall retain ten percent (10%) of the amount of each progress payment application until final completion and acceptance of all work covered by the Contract Documents. The Owner at any time, however, after fifty percent (50% %) of the Work has been completed, if he finds that satisfactory progress is being made, shall reduce retainage to five percent (5%) on the current and remaining estimates. At 50% When the Work is substantially complete (operational or beneficial occupancy), the retained amount may be further reduced below five percent (5%) to only that amount necessary to assure completion, further progress payment applications shall be paid in full to the Contractor . On completion and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when the character and progress acceptance on a part of the Work on which the price is not satisfactory to Owner on stated separately in the recommendation of EngineerContract Documents, additional amounts payment may be retainedmade in full, but in no event shall the total retainage be more than 8% of the value of the Work completedincluding retained percentages, less authorized deductions. 2. B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% 100 percent of the Work completed, less such amounts as Engineer shall determine in accordance with Paragraph 14.02.B.5 of the General Conditions and Conditions, less 100% 200 percent of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion, and less any applicable liquidated damages.

Progress Payments; Retainage. A. Owner OWNER shall make progress payments on account of the Contract Price on the basis of Contractor’s CONTRACTOR's Applications for Payment as established at recommended by ENGINEER, on or about the preconstruction conference during performance Friday following either the first or third Thursday of each month, depending upon the Work timing of submittals and approvals, as provided in Paragraphs paragraphs 6.02.A.1 and 6.02.A.2 below. All such payments will be measured by the schedule of values established as provided in Paragraph paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements: 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8the percentage indicated below, but, in each case, less the aggregate of payments previously made and less such amounts as ENGINEER shall determine or OWNER may withhold, in accordance with NRS 338.525 or paragraph 14.02 of the General Conditions: a. 95% of each progress payment application until 50% of the Work completed (with balance being retainage). If Work has been completed. At 50% completioncompleted as determined by ENGINEER, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner OWNER and ENGINEER, OWNER, on the recommendation of EngineerENGINEER, additional amounts may determine that as long as the character and progress of the Work remain satisfactory to them, there will be retainedno retainage on account of Work subsequently completed, but in no event shall which case the total retainage remaining progress payments prior to Substantial Completion will be more than 8in an amount equal to 100% of the value Work completed less the aggregate of payments previously made; and b. 95% of cost of materials and equipment not incorporated in the Work completed(with the balance being retainage). 2. Upon Substantial Completion, Owner OWNER shall pay an amount sufficient to increase total payments to Contractor CONTRACTOR to 9897.5% percent of the Work completed, less such amounts as Engineer ENGINEER shall determine in accordance with Paragraph paragraph 14.02.B.5 of the General Conditions and less 100100 % percent of EngineerENGINEER’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion.

Progress Payments; Retainage. A. Owner OWNER shall make progress payments on account of the Contract Price on the basis of Contractor’s CONTRACTOR’S Applications for Payment as established at the preconstruction conference every two (2) weeks during performance of the Work as provided in Paragraphs paragraphs 6.02.A.1 and 6.02.A.2 below. Payments for work completed shall be made within fifteen (15) days of submission of application for payment. All such payments will be measured by the schedule of values established as provided in Paragraph paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements: 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8the percentage indicated below but, in each case, less the aggregate of payments previously made and less such amounts as ENGINEER may determine or OWNER may withhold, in accordance with paragraph 14.02 of the General Conditions. Payments for work completed shall be made within fourteen (14) days of submission of application for payment or ten (10) days after approval by the Engineer. (a) 90% of each progress payment application until 50% of Work completed (with the balance being retainage). If the Work has been completed. At 50% completioncompleted as determined by the ENGINEER, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner on the OWNER and ENGINEER, OWNER, or recommendation of EngineerENGINEER, additional amounts may determine that as long as the character and progress of the Work remain satisfactory to them, there will be retainedno retainage on account of Work subsequently completed, but in no event shall which case the total retainage remaining progress payments prior to Substantial Completion will be more than 8in an amount equal to 100% of the value Work completed less the aggregate of payments previously made; and (b) 90% of cost of materials and equipment stored at the site but not incorporated in the Work completed(with the balance being retainage). 2. Upon Substantial Completion, Owner OWNER shall pay an amount sufficient to increase total payments to Contractor CONTRACTOR to 98100% percent of the Work completed, less such amounts as Engineer ENGINEER shall determine in accordance with Paragraph paragraph 14.02.B.5 of the General Conditions and less 100% percent of EngineerENGINEER’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at the preconstruction conference each month during performance of the Work as provided in Paragraphs Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and 6.02.A.2 belowotherwise meet the requirements of the Contract. All such payments will be measured by the schedule Schedule of values Values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule Schedule of valuesValues, as provided elsewhere in the General Requirements:Contract. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentage indicated below but, in each case, less the aggregate of each progress payment application until 50% payments previously made and less such amounts as Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract a. _90 percent of Work completed (with the balance being retainage). If the Work has been completed. At 50% completion50 percent completed as determined by Engineer, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner on the recommendation of and Engineer, additional amounts may be retained, but in no event shall then as long as the total retainage be more than 8% of the value character and progress of the Work completed.remain satisfactory to Owner and Engineer, there will be no additional retainage; and 2. B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% 90 percent of the Work completed, less such amounts as Engineer shall determine in accordance with set off by Owner pursuant to Paragraph 14.02.B.5 15.01.E of the General Conditions Conditions, and less 100% 5 percent of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative punch list of items to be completed or corrected attached prior to the certificate of Substantial Completionfinal payment.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at on or about the preconstruction conference 3rd day of each month during performance of the Work as provided in Paragraphs Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and 6.02.A.2 belowotherwise meet the requirements of the Contract. All such payments will be measured by the schedule Schedule of values Values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule Schedule of valuesValues, as provided elsewhere in the General Requirements:Contract. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentage indicated below but, in each case, less the aggregate of each progress payment application until 50% payments previously made and less such amounts as Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract a. Ninety-Fivepercent (95%) of Work completed (with the balance being retainage). If the Work has been completed. At 50% completion50 percent completed as determined by Engineer, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner on the recommendation of and Engineer, additional amounts may be retained, but in no event shall then as long as the total retainage be more than 8% of the value character and progress of the Work completedremain satisfactory to Owner and Engineer, there will be no additional retainage; and b. Ninety-Fivepercent (95%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). 2. B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% one hundred percent (100%) of the Work completed, less such amounts as Engineer shall determine in accordance with set off by Owner pursuant to Paragraph 14.02.B.5 15.01.E of the General Conditions Conditions, and less 100% two hundred percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative punch list of items to be completed or corrected attached prior to the certificate of Substantial Completionfinal payment.

Progress Payments; Retainage. A. Owner OWNER shall make progress payments on account of the Contract Price on the basis of Contractor’s CONTRACTOR's Applications for Payment as established at Payment, on or about the preconstruction conference first day of each month during performance of the Work as provided in Paragraphs 6.02.A.1 paragraphs 5.02.A.1 and 6.02.A.2 5.02.A.2. below. All such payments will be measured by the schedule of values established as provided in Paragraph paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements:). 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentage indicated below, but in each case, less the aggregate of each progress payment application until 50% payments previously made and less such amounts as ENGINEER may determine, or OWNER may withhold, in accordance with paragraph 14.02 of the General Conditions. a. Progress payments shall not exceed an amount equal to 90 percent of the Work has been completed. At 50% completion, further progress payment applications shall be paid in full to the Contractor completed and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Workcost of materials not incorporated in the Work but delivered and suitably stored (with the balance being retainage). At 50% completion of If the WorkWork is 50 percent complete as determined by ENGINEER, or any time thereafter when and if the character and progress of the Work is not have been satisfactory to Owner OWNER and ENGINEER, OWNER, on the recommendation of EngineerENGINEER, additional amounts may be retained, but in no event shall determine that as long as the total retainage be more than 8% of the value character and progress of the Work remain satisfactory to them, there will be no retainage on account of Work subsequently completed., in which case the remaining progress payments prior to Substantial Completion will be in an amount equal to 100 percent of the Work completed less the aggregate of payments previously made; and 2. Upon Substantial Completion, Owner OWNER shall pay an amount sufficient to increase total payments to Contractor CONTRACTOR to 98% 100 percent of the Work completed, less such amounts as Engineer shall determine in accordance with Paragraph 14.02.B.5 of the General Conditions and less 100% 200 percent of EngineerENGINEER’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at on or about the preconstruction conference first day of each month during performance of the Work as provided in Paragraphs Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and 6.02.A.2 belowotherwise meet the requirements of the Contract. All such payments will be measured by the schedule Schedule of values Values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule Schedule of valuesValues, as provided elsewhere in the General Requirements:Contract. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentage indicated below but, in each case, less the aggregate of each progress payment application until 50% payments previously made and less such amounts as Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract a. 95 percent of Work completed (with the balance being retainage). If the Work has been completed. At 50% completion50 percent completed as determined by Engineer, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner on the recommendation of and Engineer, additional amounts may be retained, but in no event shall then as long as the total retainage be more than 8% of the value character and progress of the Work completedremain satisfactory to Owner and Engineer, retainage will be held in accordance with NRS 338.515. 2. b. 95 percent of cost of materials and equipment not incorporated in the Work (with the balance being retainage). B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% 95 percent of the Work completed, less such amounts as Engineer shall determine in accordance with set off by Owner pursuant to Paragraph 14.02.B.5 15.01.E of the General Conditions Conditions, and less 100% 100 percent of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative punch list of items to be completed or corrected attached prior to the certificate of Substantial Completionfinal payment.

Progress Payments; Retainage. A. Owner OWNER shall make progress payments on account of the Contract Price on the basis of Contractor’s CONTRACTOR's Applications for Payment as established at recommended by ENGINEER, on or about the preconstruction conference 1st day of each month during performance of the Work as provided in Paragraphs paragraphs 6.02.A.1 and 6.02.A.2 below. All such payments will be measured by the schedule of values established as provided in Paragraph paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements:. 1. Prior to Substantial Completion, Owner progress payments will retain be in an amount equal to 8% the percentage indicated below, but, in each case, less the aggregate of each progress payment application until 50payments previously made and less such amounts as ENGINEER shall determine, or OWNER may withhold, in accordance with paragraph 14.02 of the General Conditions. a. 95% of the Work completed (with the balance being retainage). If Work has been completed. At 50% completioncompleted as determined by ENGINEER, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner OWNER and ENGINEER, OWNER, on the recommendation of EngineerENGINEER, may determine that as long as the character and progress of the Work remain satisfactory to them, there will be no additional amounts may retainage on account of Work completed, in which case the remaining progress payments prior to Substantial Completion will be retained, but in no event shall the total retainage be more than 8an amount equal to 100% of the value Work completed less the aggregate of payments previously made; and b. 95% (with the balance being retainage) of materials and equipment not incorporated in the Work (but delivered, suitably stored and accompanied by documentation satisfactory to OWNER as provided in paragraph 14.02.A.1 of the Work completedGeneral Conditions). 2. Upon Substantial Completion, Owner OWNER shall pay an amount sufficient to increase total payments to Contractor CONTRACTOR to 9895% percent of the Work completed, less such amounts as Engineer ENGINEER shall determine in accordance with Paragraph paragraph 14.02.B.5 of the General Conditions and less 100% percent %_ of Engineer’s ENGINEER's estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate Certificate of Substantial Completion.

Progress Payments; Retainage. A. Owner shall make monthly progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at the preconstruction conference during performance of the Work as provided in Paragraphs Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and 6.02.A.2 belowotherwise meet the requirements of the Contract. All such payments will be measured by the schedule Schedule of values Values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule Schedule of valuesValues, as provided elsewhere in the General Requirements:Contract. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentage indicated below but, in each case, less the aggregate of each progress payment application until 50% payments previously made and less such amounts as Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. Ninety five percent (95%) of the value of the Work completed (with the balance being retainage). If 50 percent or more of the Work has been completed. At 50% completion, further progress payment applications shall be paid in full to the Contractor as determined by Engineer, and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner on the recommendation of and Engineer, additional amounts may be retained, but in no event shall then as long as the total retainage be more than 8% of the value character and progress of the Work completedremain satisfactory to Owner and Engineer, there will be no additional retainage. 2. B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% one hundred percent (100%) of the Work completed, less such amounts as Engineer shall determine in accordance with set off by Owner pursuant to Paragraph 14.02.B.5 15.01.E of the General Conditions Conditions, and less 100% two hundred percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative punch list of items to be completed or corrected attached prior to the certificate of Substantial Completionfinal payment.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s 's Applications for Payment as established at on or about the preconstruction conference 25th day of each month during performance of the Work as provided in Paragraphs Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and 6.02.A.2 belowotherwise meet the requirements of the Contract. All such payments will be measured by the schedule Schedule of values Values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule Schedule of valuesValues, as provided in the Division 1, General Requirements:. 1. B. Prior to Substantial Completion, Owner will retain from progress payments, less the aggregate of payments previously made and less such amounts as Engineer shall determine or Owner may withhold in accordance with Paragraph 15.01.C of the General Conditions, an amount equal to 8% the following percentages: 1. Until the Work is 50 percent completed, retainage will be 10 percent of each progress payment application until 50% of Work completed. 2. If the Work has been completed. At 50% completion50 percent completed as determined by Engineer, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner on the recommendation of and Engineer, additional amounts may be retained, but in no event shall then as long as the total retainage be more than 8% of the value character and progress of the Work remain satisfactory to Owner and Engineer, there will be no additional retainage on account of Work subsequently completed. 23. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% Retainage will be 10 percent of the cost of materials and equipment that are not incorporated in the Work completedbut are delivered, less such amounts suitably stored, and accompanied by documentation satisfactory to Owner as Engineer shall determine provided in accordance with Paragraph 14.02.B.5 of the General Conditions and less 100% percent of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion.15.01.B.1

Progress Payments; Retainage. A. Owner shall make monthly progress payments on account of the Contract Price on the basis of Contractor’s 's Applications for Payment as established at recommended by Engineer. Contractor's Applications for Payment will be due on the preconstruction conference twenty-fifth (25th) day of each month during performance of the Work as provided in Paragraphs 6.02.A.1 and 6.02.A.2 belowParagraph 6.02.A. 1. All such progress payments will be on the basis of the progress of the Work measured by the schedule Schedule of values established as Values provided for in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work Work, based on the number of units completed) or, in the event there is no schedule Schedule of valuesValues, as provided in the General Requirements:. A progress payment will not be made whenever the value of the Work completed since the last previous progress payment is less than $5,000. 1. Prior to Substantial Completion a. Progress payments will be in the amount of 90 percent of the Work completed (with the balance being retainage), less the aggregate of payments previously made and less such amounts as Engineer shall determine, or Owner will retain an amount equal to 8% may withhold, in accordance with Paragraph 14.02 of each progress payment application until 50% of the General Conditions. If the Work has been completed. At 50% completion50 percent completed as determined by the Engineer, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner on the recommendation of and Engineer, additional amounts Owner may determine that as long as the character and progress remain satisfactory, there will be retainedno retainage on account of the Work subsequently completed, but in no event shall which case the total retainage remaining progress payments prior to Substantial Completion will be more than 8% an amount equal to 100 percent of the value of the Work completed. 2. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total less the aggregate of payments to Contractor to 98% percent of the Work completed, previously made and less such amounts as Engineer shall determine determine, or Owner may withhold, in accordance with Paragraph 14.02.B.5 of the General Conditions and less 100% percent of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion.Paragraph

Progress Payments; Retainage. A. Owner OWNER shall make progress payments on account of the Contract Price on the basis of Contractor’s CONTRACTOR's Applications for Payment as established at recommended by ARCHITECT, on or about the preconstruction conference during performance Friday following either the first or third Thursday of each month, depending upon the Work timing of submittals and approvals, as provided in Paragraphs paragraphs 6.02.A.1 and 6.02.A.2 below. All such payments will be measured by the schedule of values established as provided in Paragraph paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements: 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8the percentage indicated below, but, in each case, less the aggregate of payments previously made and less such amounts as ARCHITECT shall determine or OWNER may withhold, in accordance with NRS 338.525 or paragraph 14.02 of the General Conditions: a. 95% of each progress payment application until 50% of the Work completed (with balance being retainage). If Work has been completed. At 50% completioncompleted as determined by ARCHITECT, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner OWNER and ARCHITECT, OWNER, on the recommendation of EngineerARCHITECT, additional amounts may determine that as long as the character and progress of the Work remain satisfactory to them, there will be retainedno retainage on account of Work subsequently completed, but in no event shall which case the total retainage remaining progress payments prior to Substantial Completion will be more than 8in an amount equal to 100% of the value Work completed less the aggregate of the Work completed. 2. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% percent of the Work completed, less such amounts as Engineer shall determine in accordance with Paragraph 14.02.B.5 of the General Conditions and less 100% percent of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion.previously made; and

Progress Payments; Retainage. A. Owner OWNER shall make progress payments in accordance with Article 14 of the General Conditions on account of the Contract Price on the basis of ContractorCONTRACTOR’s Applications for Payment as established at recommended by the preconstruction conference ENGINEER once each month during performance of the Work as provided in Paragraphs paragraphs 6.02.A.1 and 6.02.A.2 below. All such progress payments will be measured by the schedule of values established as provided in Paragraph paragraph 2.07.A of the General Conditions (and or in the case of Unit Price Work based on the number of units completed) of each bid item completed times the bid unit price in the Unit Price Schedule of the Bid Form for each bid item, or, in the event there is no schedule of values, as provided in the General RequirementsConditions: 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentage of work completed but, in each progress payment application until 50case, less the aggregate of payments previously made and less such amounts as ENGINEER may determine or OWNER may withhold, including but not limited to liquidated damages, in accordance with paragraph 14.02 of the General Conditions: a. The OWNER shall retain 5% of the Work has been completedamount of each payment until final completion and acceptance of all work covered by the Contract Documents. At 50% completionR:\1657\005.01 WWTP Headworks\Design Docs\Specs\Boiler Plate\00500_agreement.docx June 23, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when the character and progress of the Work is not satisfactory to Owner on the recommendation of Engineer, additional amounts may be retained, but in no event shall the total retainage be more than 8% of the value of the Work completed.2010 2. Upon Substantial CompletionCompletion and at the OWNER’s discretion, Owner shall pay an the amount sufficient to increase total payments to Contractor to 98% percent of retainage may be further reduced if requested by the CONTRACTOR. Reduction of retainage is at the sole discretion of the Work completed, less OWNER. OWNER is not obligated to reduce retainage. Amount of substantial completion payment will be reduced by such amounts as Engineer ENGINEER shall determine in accordance with Paragraph paragraph 14.02.B.5 of the General Conditions and less by 100% percent of EngineerENGINEER’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at on or about the preconstruction conference 3rd day of each month during performance of the Work as provided in Paragraphs Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and 6.02.A.2 belowotherwise meet the requirements of the Contract. All such payments will be measured by the schedule Schedule of values Values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule Schedule of valuesValues, as provided elsewhere in the General Requirements:Contract. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentage indicated below but, in each case, less the aggregate of each progress payment application until 50% payments previously made and less such amounts as Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract a. Ninety-Fivepercent (95%) of Work completed (with the balance being retainage). If the Work has been completed. At 50% completion50 percent completed as determined by Engineer, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner on the recommendation of and Engineer, additional amounts may be retained, but in no event shall then as long as the total retainage be more than 8% of the value character and progress of the Work completedremain satisfactory to Owner and Engineer, there will be no additional retainage; and b. Ninety-Fivepercent (95%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). 2. B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% one hundred percent (100%) of the Work completed, less such amounts as Engineer shall determine in accordance with set off by Owner pursuant to Paragraph 14.02.B.5 15.01.E of the General Conditions Conditio ns, and less 100% two hundred percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative punch list of items to be completed or corrected attached prior to the certificate of Substantial Completionfinal payment.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at on or about the preconstruction conference during performance 30th day after approval of the Work presented Application for Payment to Owner with Engineer’s recommendation and as provided in Paragraphs Paragraph 6.02.A.1 and 6.02.A.2 below. All such payments will be measured by the schedule of values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of values, as provided in the General Requirements:. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentages indicated below but, in each case, less the aggregate of each progress payment application until 50% payments previously made and less such amounts as Engineer may determine or Owner may withhold, including but not limited to liquidated damages, if applicable, in accordance with Paragraph 14.02 of the General Conditions. a. Ninety percent (90%) of Work completed (with the balance being retainage). If the Work has been completed. At 50% completion50 percent completed as determined by Engineer, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner on the recommendation of and Engineer, additional amounts may be retained, but in no event shall then as long as the total retainage be more than 8% of the value character and progress of the Work completedremain satisfactory to Owner and Engineer, there will be no additional retainage; and b. Ninety percent (90%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). 2. B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% One Hundred percent (100%) of the Work completed, less such amounts as Engineer shall determine in accordance with Paragraph 14.02.B.5 of the General Conditions and less 100% Two Hundred percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative list of items to be completed or corrected attached to the certificate of Substantial Completion.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment as established at on or about the preconstruction conference last day of each month during performance of the Work as provided in Paragraphs Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and 6.02.A.2 belowotherwise meet the requirements of the Contract. All such payments will be measured by the schedule Schedule of values Values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no schedule Schedule of valuesValues, as provided elsewhere in the General Requirements:Contract. 1. Prior to Substantial Completion, Owner progress payments will retain be made in an amount equal to 8% the percentage indicated below but, in each case, less the aggregate of each progress payment application until 50% payments previously made and less such amounts as Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. 95 percent of Work completed (with the balance being retainage). If the Work has been completed. At 50% completion50 percent completed as determined by Engineer, further progress payment applications shall be paid in full to the Contractor and no additional amounts will be retained unless the Engineer certifies to the Owner that the job is not proceeding satisfactorily. Amounts previously retained shall not be paid to the Contractor until substantial completion of the Work. At 50% completion of the Work, or any time thereafter when if the character and progress of the Work is not have been satisfactory to Owner on the recommendation of and Engineer, additional amounts may be retained, but in no event shall then as long as the total retainage be more than 8% of the value character and progress of the Work completedremain satisfactory to Owner and Engineer, there will be no additional retainage; and b. 100 percent of cost of materials and equipment not incorporated in the Work (with the balance being retainage). 2. B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to 98% 100 percent of the Work completed, less such amounts as Engineer shall determine in accordance with set off by Owner pursuant to Paragraph 14.02.B.5 15.01.E of the General Conditions Conditions, and less 100% 200 percent of Engineer’s estimate of the value of Work to be completed or corrected as shown on the tentative punch list of items to be completed or corrected attached prior to the certificate of Substantial Completionfinal payment.