EACH INVOICE (LESS ANY
WITHHOLDINGS ALLOWED UNDER THIS AGREEMENT) SHALL BE DUE AND PAID NO LATER THAN
TWENTY-FIVE (25) DAYS AFTER IT, AND ALL APPLICABLE DOCUMENTATION REQUIRED UNDER
ATTACHMENT I, IS RECEIVED BY OWNER.
IF AN INVOICE IS DISPUTED BY OWNER, THEN
PAYMENT SHALL BE MADE WITHIN THE TWENTY-FIVE (25) DAY PERIOD FOR ALL UNDISPUTED
AMOUNTS AND THE DISPUTE SHALL BE RESOLVED PURSUANT TO ARTICLE 18. PAYMENT ON
DISPUTED AMOUNTS SHALL BE MADE AS SOON AS SUCH DISPUTE IS RESOLVED.
F.
RECONCILIATION OF MONTHLY PAYMENTS.
IF
AT ANY TIME DURING THE COURSE OF THE PROJECT: (I) THE MONTHLY PROGRESS REPORTS
SHOW THAT ANY ACTIVITY ON THE CRITICAL PATH IS NINETY (90) DAYS OR MORE BEHIND
SCHEDULE; AND (II) CONTRACTOR OR ANY OF ITS SUBCONTRACTORS OR SUB-SUBCONTRACTORS
ARE NOT EXCUSED UNDER THE TERMS OF THIS AGREEMENT FOR SUCH DELAY, THEN THE DATE
FOR PAYMENT OF THE LAST MONTHLY PAYMENT AS SHOWN IN THE PAYMENT SCHEDULE SHALL
BE REVISED TO A LATER DATE ACCORDING TO THE NUMBER OF DAYS THAT THE ACTIVITY IS
BEHIND SCHEDULE AND THE REMAINING MONTHLY PAYMENTS NOT YET DISBURSED TO
CONTRACTOR UNDER THIS AGREEMENT SHALL BE READJUSTED AND SPREAD OUT
PROPORTIONATELY THROUGH THE REMAINDER OF THE PERIOD, ENDING UPON THE REVISED
DATE FOR PAYMENT OF THE LAST MONTHLY PAYMENT; PROVIDED THAT, IN THE EVENT THAT
CONTRACTOR RECOVERS THE DELAY SUCH THAT THE ACTIVITY IN QUESTION CEASES TO BE
BEHIND SCHEDULE, THE MONTHLY PAYMENTS SHALL BE RECALCULATED SO THAT SUCH MONTHLY
PAYMENTS SHALL BE DUE IN ACCORDANCE WITH THE ORIGINAL PAYMENT SCHEDULE AS OF THE
CONTRACT DATE.
7.3
FINAL COMPLETION AND FINAL PAYMENT.
UPON
FINAL COMPLETION, CONTRACTOR SHALL, IN ADDITION TO ANY OTHER REQUIREMENTS IN
THIS AGREEMENT FOR ACHIEVING FINAL COMPLETION, INCLUDING THOSE REQUIREMENTS SET
FORTH IN SECTION 1.1 FOR THE DEFINITION OF FINAL COMPLETION, SUBMIT A FULLY
EXECUTED FINAL INVOICE IN THE FORM ATTACHED HERETO AS SCHEDULE I-2, ALONG WITH
(I) A STATEMENT SUMMARIZING AND RECONCILING ALL PREVIOUS INVOICES, PAYMENTS AND
CHANGE ORDERS; (II) AN AFFIDAVIT THAT ALL PAYROLLS, TAXES, BILLS FOR EQUIPMENT,
AND ANY OTHER INDEBTEDNESS CONNECTED WITH THE WORK FOR WHICH CONTRACTOR AND ITS
SUBCONTRACTORS AND SUB-SUBCONTRACTORS ARE LIABLE (EXCLUDING CORRECTIVE WORK)
HAVE BEEN PAID; (III) FULLY EXECUTED FINAL CONDITIONAL LIEN AND CLAIM WAIVER
FROM CONTRACTOR IN THE FORM OF SCHEDULE K-5, (IV) FULLY EXECUTED FINAL
CONDITIONAL LIEN AND CLAIM WAIVERS FROM EACH MAJOR SUBCONTRACTOR IN THE FORM SET
FORTH IN SCHEDULE K-7; AND (V) FULLY EXECUTED FINAL CONDITIONAL LIEN AND CLAIM
WAIVERS FROM EACH MAJOR SUB-SUBCONTRACTOR IN SUBSTANTIALLY THE FORM SET FORTH IN
SCHEDULE K-7.
NO LATER THAN TWENTY-FIVE (25) DAYS AFTER RECEIPT
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BY OWNER OF SUCH FINAL INVOICE AND ALL REASONABLY REQUESTED DOCUMENTATION AND
ACHIEVING FINAL COMPLETION, OWNER SHALL, SUBJECT TO ITS RIGHTS TO WITHHOLD
PAYMENT UNDER THIS AGREEMENT, PAY CONTRACTOR THE BALANCE OF THE CONTRACT PRICE,
PROVIDED THAT CONTRACTOR PROVIDES TO OWNER AT OR BEFORE THE TIME OF SUCH PAYMENT
THE FOLLOWING: (X) FULLY EXECUTED FINAL UNCONDITIONAL LIEN AND CLAIM WAIVER FROM
CONTRACTOR IN THE FORM OF SCHEDULE K-6; AND (Y)