7.1 HRSR 05-05-2014 - Laserfiche WebLink

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Payment Procedures: All contractors will agree to the payment schedule established by CMHP and the City. Typical draw schedules will be every two weeks.] A Typically d vs will die_dtuled to provide-for Qnc dr w u . e.i. ;•• - •1• • • • c. • -t'• . D w requests approved by CMHP_must be submitted to the HRA at least one week before the first ---- --- --- - Monday._Qf a month to be paidin such mono Approved._p_ayrr will be made b..the. HRA directly to the contractor and Il iedeemed advances of the Loan to the Homeowner. Steps and conditions for contractor payment include: • No pre-payments are allowable for any reason. Payment requests for materials will be allowed only if contractor provides receipt for payment • Draw inspections will be scheduled by CMHP and will include the contractor and homeowner • Progress payments will only be allowed for work that is completed • Payments will be made only after the work is completed according to the specifications in the scope of work, and is approved by the owner and CMHP. In order for the contractor to be paid, a draw request form must be signed by the homeowner • Ten percent (10%) will be withheld from each partial payment. Final payment for all work completed, including any withheld amounts, may be made after all work by a contractor is completed, the final inspection has been conducted and CMHP, homeowner and contractor have signed off on the work Payments will be made only upon presentation of the following documents: • Billing statement/invoice submitted to CMHP by contractor • Homeowner signed draw form • Signed lien waiver • Sworn Construction Statement(final draw only) • Completion Certificate (final draw only) Change Orders: Change orders to the contract require the signature of the homeowner, the contractor and CMHP. Change orders will specify what the change is and the increase/deduction in the contract amount. Costs may be the responsibility of the homeowner and, if so, these funds must be placed in the appropriate escrow account. Funds may not be eligible for change order items if change order work is completed before approval of CMHP staff. Change orders will be allowed only for the following reasons. • To rectify hidden deficiencies discovered once work has started • To change a specification due to unforeseen difficulties arising after work has started • To address a deficiency that was inadvertently dropped from the project during scope of work origination • To approve changes in the contract time period Owner Participation: Homeowners are expected to participate in their project by communicating with contractors when they have questions about work items, scheduling or any other concerns that may arise. It is expected that homeowners and contractors will communicate 8 443J.14%.3_ 1...1..E.L.1.8. -26