Agenda - Council - 05/14/2024 - Laserfiche WebLink

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any other person performing the Work at the Work site or furnishing materials and equipment for the Project, subject to an agreement under which an interest therein or encumbrance thereon is retained by the seller or otherwise imposed by the Contractor or such other person. 25.4 The Engineer will, within fifteen (15) Calendar Days after receipt of application for payment, either indicate in writing his approval of payment and present the application to the Owner, or return the application to the Contractor indicating in writing his reasons for refusing to approve payment. In the latter case, the Contractor may make the necessary corrections and resubmit the application. The Owner will pay the Contractor the amount approved by the Engineer and Owner. ARTICLE 26. Prompt Payment to Subcontractors The Contractor shall pay any subcontractor within ten days of the prime contractor's receipt of payment from the municipality for undisputed services provided by the subcontractor. The contract must require the prime contractor to pay interest of 1 V2 percent per month or any part of a month to the subcontractor on any undisputed amount not paid on time to the subcontractor. The minimum monthly interest penalty payment for an unpaid balance of $100 or more is $10. For an unpaid balance of less than $100, the prime contractor shall pay the actual penalty due to the subcontractor. A subcontractor who prevails in a civil action to collect interest penalties from a prime contractor must be awarded its costs and disbursements, including attorney's fees, incurred in bringing the action. ARTICLE 27. Approval of Payment 27.1 The Engineer's approval of any payment requested in an application for payment shall constitute a representation by the Engineer to the Owner, based on the Engineer's on-site observations of the Work in progress as an experienced and qualified design professional and on their review of the application for payment and the supporting data, that the Work has progressed to the point indicated; that, to the best of their knowledge, information and belief, the quality of the Work is in accordance with the Contract Documents (subject to an evaluation of the Work as a functioning Project upon completion, to the results of any subsequent tests called for in the Contract Documents and any qualifications stated in his approval); and that the Contractor is entitled to payment of the amount approved. 27.2 The Engineer's approval of final payment shall constitute an additional representation by the Engineer to the Owner that the conditions precedent to the Contractor's being entitled to final payment as set forth in the Agreement have been fulfilled. 27.3 The Engineer may refuse to approve the payment if, in the Engineer's opinion, the Engineer is unable to make such representations to the Owner. They may also refuse to approve any such payment or, because of subsequently discovered evidence or the results of subsequent inspections or tests, nullify any such payment previously approved, to such extent as may be necessary in their opinion to protect the Owner from loss because: 27.3.1 The Work is defective; 27.3.2 Claims have been filed or there is reasonable evidence to suggest such filing thereof; GC 20