5.4. SR 05-21-2007 - Laserfiche WebLink

Home Browse Search

.3 Subtract lbe aggregate of previous payments made by lbe Owner. If lbe aggregate of previous payments made by lbe Owner exceeds lbe amount due lbe Construction Manager, lbe Construction Manager shall reimburse lbe difference to lbe Owner. ~ 7.2.3 The Owner's accountants will review and report in writing on lbe Construction Manager's final accounting within 30 days after delivery oflbe fmal accounting to lbe Architect by the Construction Manager. Based upon such Cost of lbe Work as lbe Owner's accountants report to be substantiated by lbe Construction Manager's final accounting, and provided lbe olber conditions of Section 7.2.1 have been met, the Architect will, wilbin seven days after receipt of the written report of the Owner's accountants, either issue to the Owner a final Certificate for Payment with a copy to lbe Construction Manager or notify lbe Construction Manager and Owner in writing of the Architect's reasons for withholding a certificate as provided in Section 9.5.1 of AZO 1""--1 997 . The time periods stated in this Section 7.2 supersede lbose stated in Section 9.4.1 of A201nL1997. ~ 7.2.4 If lbe Owner's accountants report lbe Cost of lbe Work as substantiated by lbe Construction Manager's final accounting to be less lban claimed by lbe Construction Manager, lbe Construction Manager shall be entitled to proceed in accordance with Article 9 without a further decision oflbe Architect. Unless agreed to olberwise, a demand for mediation or arbitration oflbe disputed amount shall be made by the Construction Manager within 60 days after lbe Construction Manager's receipt of a copy oflbe Architect's fmal Certificate for Payment. Failure to make such demand within this 60-day period shall result in lbe substantiated amount reported by lbe Owner's accountants becoming binding on lbe Construction Manager. Pending a fmal resolution of the disputed amount, lbe Owner shall pay the Construction Manager lbe amount certified in lbe Architect's final Certificate for Payment. ~ 7,2.5 If, subsequent to final payment and at lbe Owner's request, lbe Construction Manager incurs costs described in Section 6.1 and not excluded by Section 6.2 (I) to correct nonconforming Work or (2) arising from the resolution of disputes, the Owner shall reimburse lbe Construction Manager such costs and lbe Construction Manager's Fee, if any, related lbereto on lbe same basis as if such costs had been incurred prior to final payment, but not in excess of the Guaranteed Maximum Price. If lbe Construction Manager has participated in savings, lbe amount of such savings shall be recalculated and appropriate credit given to lbe Owner in determining lbe net amount to be paid by lbe Owner to lbe Construction Manager. ARTICLE 8 INSURANCE AND BONDS ~ 8.1 INSURANCE REQUIRED OF THE CONSTRUCTION MANAGER During bolb phases oflbe Project, lbe Construction Manager shall purchase and maintain insurance as set forth in Section ILl of A201nL1997. Such insurance shall be written for not less lban lbe following limits, or greater if required by law;- In addition to Owner all Prime Contractors fA shall Ii:,>! Construction Mana1?er 3R an additional in:'\ured__0'!l_~..p!"j.I.'l1~rx.l nOll..:..OO...utributQrvllasis to the Prime Contractor's g~!1eral auto....and excess liahilitv nolicies for both ommimr and conmleted onerations. ~ 8.1.1 Workers' Compensation and Employers' Liability meeting statutory limits mandated by state and federal laws. If(l) limits in excess oflbose required by statute are to be provided, or (2) lbe employer is not statutorily bound to obtain such insurance coverage or (3) additional coverages are required, additional coverages and limits for such insurance shall be as follows: As shown on Exhibit A C:erti:t15~_"!~~_ 9,fJ!!~,~ance ~ 8.1.2 Commercial General Liability including coverage for Premises-Operations, Independent Contractors' Protective, Products-Completed Operations, Contractual Liability, Personal Injury and Broad Form Property Damage coverage for Explosion, Collapse and Underground hazards): Each Occurrence General Aggregate Personal and Advertising Injury Products-Completed Operations Aggregate .1 The policy shall be endorsed to have lbe General Aggregate apply to lbis Project only. .2 Products and Completed Operations insurance shall be maintained for a minimum period of at least ( ) year(s) after either 90 days following Substantial Completion or fmal payment, whichever is earlier.