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  2. Finance Committee - Agenda - 1/6/2016 - P19

Finance Committee - Agenda - 1/6/2016 - P19

By dnadmin on Mon, 11/07/2022 - 09:56
Document Date
Wed, 01/06/2016 - 00:00
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 01/06/2016 - 00:00
Page Number
19
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__010620…

5 OWNER shall make payments on the basis of Contractors Application for Payment,
approximately 30 days from the time the final payment application is received by the
Owner, depending upon the timing of submittals and approvals.

6 The Contractor shall promptly pay each Subcontractor and material supplier out of the
amount paid to the Contractor on account of such entities’ portion of the Work.

7 The Owner shall have no responsibility for the payment of money to a Subcontractor or
material supplier.

8. An Application for Payment, a progress payment, or partial or entire use or occupancy of
the project by the Owner shall not constitute acceptance of Work not in accordance with
the requirements of the Contract Documents.

9, Substantial completion is the stage in the progress of the Work when the Work or
designated portion thereof is sufficiently complete in accordance with the Contract
Documents so the Owner can occupy or utilize the Work for its intended use.

10. When the Work or designated portion thereof is substantially complete, the Contractor and
Owner shall establish responsibilities for completion and shall fix the time within which the
Contractor shall finish all items on the list accompanying the Certificate. Warranties
required by the Contract Documents shall commence on the date of Substantial
Completion of the Work or designated portion thereof unless otherwise provided in the
Certificate of Substantial Completion.

11. Upon receipt of a final Application for Payment, the Owner will inspect the Work. When he
finds the Work acceptable and the Contract fully performed, the Owner will promptly issue
a final Certificate for Payment

12. Acceptance of final payment by the Contractor, a Subcontractor or material supplier shall
constitute a waiver of claims by that payee except those previously made in writing and
identified by that payee as unsettled at the time of final Application for Payment.

ARTICLE 11— PROTECTION OF PERSONS AND PROPERTY

1. The Contractor shall be responsible for initiating, maintaining and supervising all safety
precautions and programs, including all those required by law in connection with
performance of the Contract. The Contractor shall promptly remedy damage and loss to
property caused in whole or in part by the Contractor, or by anyone for whose acts the

Contractor may be liable.
ARTICLE 12 - CORRECTION OF WORK

1. The Contractor shall promptly correct Work rejected by the Owner as failing to conform to
the requirements of the Contract Documents. The Contractor shall bear the cost of
correcting such rejected work.

2. In addition to the Contractor's other obligations including warranties under the Contract,
the Contractor shall, for a period of one year after Substantial Completion, correct work not
conforming to the requirements of the Contract Documents.

3. If the Contractor fails to correct nonconforming Work within a reasonable time, the Owner
may correct it and the Contractor shall reimburse the Owner for the cost of the correction

ARTICLE 13 — PROHIBITED INTERESTS

Contractor shall not allow any officer or employee of the City to have any indirect or direct interest
in this contract or the proceeds of this contract. Contractor warrants that no officer or employee of
the City has any direct or indirect interest, whether contractual, non-contractual, financial or
otherwise, in this contract or in the business of the Contractor. Contractor also warrants that it
presently has no interest and that it will not acquire any interest, direct or indirect, which would
conflict in any manner or degree with the performance of services required to be performed under
this contract. Contractor further warrants that no person having such an interest shall be

AG-7

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Finance Committee - Agenda - 1/6/2016 - P19

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