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/ 5.6 Subject to the provisions of tl~e Contract Documents, the amount of each progress payment shall be computed as follows: 5.6.1. Take that portion of the Contract Sum properly allocable to completed Work as determined by multiplying the percenta~e canpletion of each portion of the Work by the share of the total Contract Sum allocated to that portion of the Work in the Sched ~. of Values, less retainage of five percent ( 5%) . Pending final determination of cost to the Owner of changes in the Work, amounl~ not in dispute may be included as provided in Subparagraph 7.3.7 of the General Conditions even tl~ough tl~e Contract Sum has not yet been adjosted by Change Order; 5.6.2 Add that portion of tlie Contract Sum properly allocable to materials and equipment delivered and suitably stored at the site for subsequent incorporation in the completed construction (or, if approved in advance by the Owner, suitably stored off tlie site at a location agreed upon in writing), less retainage of percent (%); 5.6.3 Subtract the aggregate of previous payments made by the Owner; and 5.6.4 Subtract amounts, if any, €e~ ~ki~ ~ke ~sk~e~ -has rvithheld or nullified pursu~nt to a Certificate for Payment as provided in Paragraph 9.5 of the General Conditions. 5.7 The progress payment amount determined in accordance with Paragraph 5.6 shall be furtl~er modified under the following circumstances: 5.7.1 Add, upon Substandal Completion of the Work, a sum sufficient to increase the total payments to tti~tef~ fiv~ percent ( 95 %) of the Contract Sum, less such amounts as tl~e ~TWn~~;~sk~e~ shall determine for incomplete Work and unsettled claims; and 5.7.2 Add, if final completion of the Work is thereafter materially delayed through no fault of the Contractor, any additional amounts payable in accordance with Subparagraph 9.10.3 of the General Conditions. 5.8 Reductiqn or limitation of retainage, if any, shall be as follows: (7f it rs intended, prior to Su6stantlal Completion of the enNre Work, to reduce or limit the retainage resulting from the percentages inseRed in Subparagraphs 5.6.1 and 5.6 2 above, and ~his is not explained e/sewhere in the Contract Documents, insert here provisions for st~ch reduction or Iimitation.J n!a ~ ARTICLE 6 FINAL PAYMENT Final payment, constituting the entire unpaid balance of the Contract Sum, shall be made by the Owner to the Contractor when (1) the Contract has been fiilly performed by the Contractor except for the Contractor's responsibility to oorrect nonconfornung Work as provided in Subparagraph 12.2.2 of the General Conditions and to sadsfy other requirements, if any, which necessarily survive final payment; and (2) a final Certificate for Payment has been issued by the Architect.~nd ~C~-tiwledg~ 'by t~te ~i~ such final payment shall be made by the Owner not more than 30 days after the issuance of the Architect's final Certificate for Payment; '~ as-~'e~ew~: ARTICLE 7 MISCELLANEOUS PROVISIONS T.1 Wl~ere reference is made in this Agreement to a provision of the General Conditions or another Contract Document, the reference refers to that provision as amended or supplemented by other provisions of the Contract Documents. AIA DOCUMENT A101 • OWNER-CONTRACTOR AGREEMENT • TWELFTH EDITION • AIA • COPYRIGHT 1987 • THE AMERICAN INSTIT(TI'E OF ARCHITECTS, 1733 NEW YORK AVENUE, N.W., WASHINGTON, D.C., 20006-5292. WARNING; Unlicensed photocopying vio(ates U.S. copyright Iaws and is ~b~ ~t l~e`gal prosecution. This document was electronically produoed wiUt pern~ission ofthe AIA and can be reproduced wrthout violation uMil fhe date ofexpiration r~ Electronic Format A101-1987 User pocument: A101 -- 2/18/1999. AIA License Number 100632, which expires on 12/7/1999 - Page #4