KLB CONSTRUCTION INC. 6/23/2010 - Laserfiche WebLink

I I5. Liquidated damages. 6. Misrepresentation of the quality of materials installed or amount of work performed. I 7. Discovery that a previous pay estimate erred with respect to the amount of work performed or materials installed, irrespective of the Owner's Representative's recommendation at the time of the progress pay estimate. I The Owner may refuse to make payment of the full amount recommended by the Owner's Representative because of Contract Claims made against the Owner on account of Contractor's performance or furnishing the work or because of liens filed in connection with the work or other set offs entitling Owner to reduce the amount recommended. In such case, the Owner shall give Contractor prompt written Notice I with copy to the Owner's Representative stating the reasons for each action. 9.1.3. Final Payment I Upon receipt of Contractor's written notice that the Work is ready for final inspection and acceptance and upon receipt of a final Application for Payment, the Owner's Representative will inspect the Work. If the Owner's Representative finds the Work acceptable under the Contract Documents and the Contract fully performed and if the Contractor has signed a Final Contract Voucher, the Owner's Representative will I issue a final Certificate for Payment. The Certificate for Payment will state that to the best of the Owner's Representative's knowledge, information and belief, the Work appears to have been completed in accordance with terms and conditions of the Contract Documents and that the entire balance found to be I due the Contractor and noted in the final Certificate is due and payable. Final payment shall not become due until the Contractor submits to the Owner's Representative; (1)an affidavit that payrolls, bills for materials and equipment, and other indebtedness connected with the Work for which the Owner or the Owner's property might be responsible or encumbered (less amounts withheld by Owner) have been paid or otherwise satisfied; (2)a certificate evidencing that insurance required by the Contract Documents to remain in force after final payment is currently in effect and will not be canceled or allowed to expire until at least thirty(30)days' prior written notice has been given to the I Owner; (3)a written statement that the Contractor knows of no substantial reason that the insurance will not be renewable to cover the period required by the Contract Documents; (4)consent of surety, if any, to final payment; and (5) if required by the Owner, other data establishing payment or satisfaction of I obligations, such as receipts, releases and waivers of liens, claims, security interests or encumbrances arising out of the Contract, to the extent and in such form as may be designated by the Owner. If a Subcontractor refuses to furnish a release or waiver required by the Owner, the Contractor may furnish a bond satisfactory to the Owner to indemnify the Owner against such lien. If such lien remains unsatisfied I after payments are made, the Contractor shall refund to the Owner all money that the Owner may be compelled to pay in discharging such lien, including all costs and reasonable attorneys'fees. Prior estimates and payments, including those relating to Extra Work or work omitted, shall be subject to 1 correction by the final payment. If, after Substantial Completion of the work, Final Acceptance thereof is materially delayed through no fault of the Contractor or by issuance of Change Orders affecting Final Acceptance, and the Owner's I Representative so confirms, the Owner may, upon application by the Contractor and certification by the Owner's Representative, and without terminating the Contract, make payment of the balance due for that portion of the Work fully completed and accepted. If the remaining balance for Work not fully completed or corrected is less than retainage stipulated in the Contract Documents, and if bonds have been furnished, I the written consent of surety to payment of the balance due for that portion of the Work fully completed and accepted shall be submitted by the Contractor to the Owner's Representative prior to certification of such payment. Such payment shall be made under terms and conditions governing final payment, except I that it shall not constitute a waiver of claims. Acceptance of final payment by the Contractor, a Subcontractor or material supplier shall constitute a waiver of Contract Claims by that payee, except those Contract Claims previously timely and completely I submitted that remain pending at the time of final payment, provided that Contractor specifically so notifies the Owner in writing prior to the Owner making such final payment. Payment by the Owner shall IIEVERETT RIVERFRONT SURCHARGE GENERAL CONDITIONS PHASE 3 00710-31 111