5.4. SR 05-21-2007 - Laserfiche WebLink

Home Browse Search

.5 Rental costs of machinery and equipment, except as specifically provided in Section 6. 1.5.2. .6 Except as provided in Section 6.1.8.2, costs dne to the negligence of the Construction Manager or to the failure of the Construction Manger to fulfill a specific responsibility to the Owner set forth in this Agreement. .7 Costs incurred in the performance of Preconstruction Phase Services. .8 Except as provided in Section 6.1.7.1, any cost not specifically and expressly described in Section 6.1. .9 Costs which would cause the Guaranteed Maximum Price to be exceeded. ~ 6.3 DISCOUNTS, REBATES AND REFUNDS ~ 6.3.1 Cash discounts obtained on payments made by the Construction Manager shall accrue to the Owner if (I) before making the payment, the Construction Manager included them in an Application for Payment and received payment therefor from the Owner, or (2) the Owner has deposited funds with the Construction Manager with which to make payments; otherwise, cash discounts shall accrue to the Construction Manager. Trade discounts, rebates, refunds and amounts received from sales of surplus materials and equipment shall accrue to the Owner, and the Coustruction Manager shall make provisions so that they can be secured. ~ 6.3.2 Amounts which accrue to the Owner in accordance with the provisions of Section 6.3.1 shall be credited to the Owner as a deduction from the Cost ofthe Work. ~ 6.4 ACCOUNTING RECORDS ~ 6.4.1 The Construction Manager shall keep full and detailed accounts and exercise such controls as may be necessary for proper [mancial management under this Contract; the accounting and control systems shall be satisfactory to the Owner. The Owner and the Owner's accountants shall be afforded access to the Construction Manager's records, books, correspondence, instructions, drawings, receipts, Prime rnntraets purchase orders, vouchers, memoranda and other data relating to this Project, and the Construction Manager shall preserve these for a period of three years after final payment, or for such longer period as may be required by law. ARTICLE 7 CONSTRUCTION PHASE ~ 7.1 PROGRESS PAYMENTS ~ 7.1.1 Based upon Applications for Payment submitted to the Architect by the Construction Manager and Certificates for Payment issued by the Architect, the Owner shall make progress payments on account of the Contract Sum to the Construction Manager as provided below and elsewhere in the Contract Documents. ~ 7.1.2 The period covered by each Application for Payment shall be one calendar month ending on the last day of the month, or as follows: ~ 7.1.3 Provided an Application for Payment is received by the Architect not later than the daJ::~ month, the Owner shall make payment to the Construction Manager not later than the day of the _ month. If an Application for Payment is r~5~ive~,?t,the Architect after the application date fixed above, payment shall be made by the Owner not later thani'iOi.'l!1hil-iMiii ( I_III) days after the Architect receives the Application for Payment. ~ 7.1.4 With each Application for Payment, the Construction Manager shall submit payrolls, petty cash accounts, receipted invoices or invoices with check vouchers attached and any other evidence required by the Owner or Architect to demonstrate that cash disbursements already made by the Construction Manager on account of the Cost of the Work equal or exceed (I) progress payments already received by the Construction Manager; less (2) that portion of those payments attributable to the Construction Manager's Fee; plus (3) payrolls for the period covered by the present Application for Payment. ~ 7.1.5 Each Application for Payment shall be based upon the most recent schedule of values submitted by the Construction Manager in accordance with the Contract Documents. The schedule of values shall allocate the entire Guaranteed Maximum Price among the various portions of the Work, except that the Construction Manager's Fee shall be shown as a single separate item. The schedule of values shall be prepared in such form and supported by such data to substantiate its accuracy as the Architect may require. This schedule, unless objected to by the Architect, shall be used as a basis for reviewing the Construction Manager's Applications for Payment. ~ 7.1.6 Applications for Payment shall show the percentage completion of each portion ofthe Work as of the end of the period covered by the Application for Payment. The percentage completion shall be the lesser of (I) the percentage oftliat portion of the Work which has actually been completed or (2) the percentage obtained by dividing