specific cause for withholding additional retainage no further amount will be withheld. The
escrow account will remain at the same balance throughout the remainder of the project.
6.03 Final Payment
A. Upon final completion and acceptance of the Work in accordance with paragraph 14.07 of the General
Conditions, OWNER shall hold 2% retainage during the 1 (one) year warranty period and release it only after the
project has been accepted.
ARTICLE 7 - CONTRACTOR'S REPRESENTATIONS
7.01 Inorder to induce OWNER to enter into this Agreement CONTRACTOR makes the following representations:
A. CONTRACTOR has examined and carefully studied the Contract Documents and the other related data
identified in the Bidding Documents.
B. CONTRACTOR has visited the Site and become familiar with and is satisfied as to the general, local,
and Site conditions that may affect cost, progress, and performance of the Work.
C. CONTRACTOR is familiar with and is satisfied as to all federal, state, and local Laws and Regulations
that may affect cost, progress, and performance of the Work.
D. CONTRACTOR has carefully studied all Gf any): (1) reports of explorations and tests of subsurface
conditions at or contiguous to the Site and all drawings of physical conditions in or relating to existing surface or
subsurface structures at or contiguous to the Site (except Underground Facilities) which have been identified in the
Supplementary Conditions as provided in paragraph 4.02 of the General Conditions and (2) reports and drawings of a
Hazardous Environmental Condition, if any, at the Site which has been identified in the Supplementary Conditions as
provided in paragraph 4.06 of the General Conditions.
CONTRACTOR is entitled to rely upon the general accuracy of the “technical data” as provided in paragraph 4.2 of the
General Conditions. CONTRACTOR acknowledges that such reports and drawings are not Contract Documents and
may not be complete for CONTRACTOR's purposes. CONTRACTOR acknowledges that OWNER and ENGINEER
do not assume responsibility for the accuracy or completeness of information and data shown or indicated in the
Contract Documents with respect to Underground Facilities at or contiguous to the site.
E. CONTRACTOR has obtained and carefully studied (or assumes responsibility for having done so) all
additional or supplementary examinations, investigations, explorations, tests, studies, and data concerning conditions
(surface, subsurface and Underground Facilities) at or contiguous to the Site which may affect cost, progress, or
performance of the Work or which relate to any aspect of the means, methods, techniques, sequences and procedures of
construction, if any, expressly required by the Contract Documents to be employed by CONTRACTOR, and safety
precautions and programs incident thereto.
F. CONTRACTOR does not consider that any further examinations, investigations, explorations, tests,
studies, or data are necessary for the performance of the Work at the Contract Price, within the Contract Times, and in
accordance with the other terms and conditions of the Contract Documents.
G. CONTRACTOR is aware of the general nature of work to be performed by OWNER and others at the
Site that relates to the Work as indicated in the Contract Documents.
H. CONTRACTOR has correlated the information known to CONTRACTOR, information and
observations obtained from visits to the Site, reports and drawings identified in the Contract Documents and all
additional examinations, investigations, explorations, tests, studies, and data with the Contract Documents.
AG -3o0f6
