03-12-1984 Council Packet - Laserfiche WebLink

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Ift (c) Reasonable evidence indicating potential filing of claims by other parties against the Contractor or Owner. (d) Failure of the Contractor to make payments to Subcontractors, materialmen or suppliers. (e) Damage to the Owner or any other person. (f) Contractor's unsatisfactory prosecution of the work. 10.5.2 When any of the above grounds for which payment is being withheld is removed, payment shall be made for the amount withheld. 10.5.3 INTEREST ON UNPAID REQUESTS FOR PAYMENT: Should the Owner fail to pay an approved Request for Payment within 30 days from the date of approval by the Engineer and should he fail to inform the Engineer and Contractor in writing of his reasons for withholding payment, the Owner shall pay to the Contractor simple interest on the past due amount at an annual rate equal to the monthly index of long term United States bond yields for the month prior to the month in which the obligation is inctrtred plus an additional one per- cent per annum. �_J 10.6 CONTRACTOR'S WARRANTY OF TITLE ,.r Contractor warrants and guarantees that title to all Work, materials and equipment covered by any Application for Payment, whether incorporated in the `-' Project or not, will pass to Owner at the time of payment free And clear of all liens, claims, security interests and encumbrances (hereafter in these ~' General Conditions referred to as "Liens"). 10.7 SUBSTANTIAL COMPLETION When Contractor considers the entire Work ready for its intended use Contrac- tor shall, in writing to Owner and Engineer, certify that the entire Work is substantially complete and request that Engineer issue a certificate of Sub- stantial Completion. Within a rea able time thereafter, Owner, Contractor L= and Engineer shall make an inspection of the Work to determine the status of completion. If Engineer does not consider the Work substantially complete, Engineer will notify Contractor ir. writing giving his reasons therefor. If y.+ Engineer considers the Work substantially complete, Engineer will prepare and deliver to Owner a tentative certificate of Substantial Completion which shall fix the date of Substartial Completion. There shall be attached to the cer- tificate a tentative list of items to be completed or corrected before final payment. Owner shall have seven days after receipt of the tentative certifi- cate during which he may make written objection to Engineer as to any pro- visions or the certificate of attached list. If, after considering such ob- %W jections, Engineer concludes that the Work is not substantially complete, Engineer will within fourteen days after submission of the tentative rR certificate to Owner notify Contractor in writing, stating his reasons r - 33 - }t 3595a 4/81