examinations, audits and verifications, if required by the Owner, will be performed by the Owner’s auditors acting
in the sole interest of the Owner.
§ 7.2 Final Payment
§ 7.2.1 Final payment, constituting the entire unpaid balance of the Contract Sum, shal] be made by the Owner to the
Construction Manager when
1 the Construction Manager has fully performed the Contract except for the Construction Manager’s
responsibility to correct Work as provided in Section 12.2.2 of AIA Document A201—2007, and to
satisfy other requirements, if any, which extend beyond final payment;
.2_ the Construction Manager has submitted a final accounting for the Cost of the Work and a final
Application for Payment; and
3 a final Certificate for Payment has been issued by the Architect.
The Owner’s final payment to the Construction Manager shail be made no later than 30 days after the issuance of
the Architect’s final Certificate for Payment, or as follows:
§ 7.2.2 The Owner’s auditors will review and report in writing on the Construction Manager’s final accounting
within 30 days after delivery of the final accounting to the Architect by the Construction Manager. Based upon such
Cost of the Work as the Owner’s auditors report to be substantiated by the Construction Manager’s final accounting,
and provided the other conditions of Section 7.2.1 have been met, the Architect will, within seven days after receipt
of the written report of the Owner’s auditors, either issue to the Owner a final Certificate for Payment with a copy to
the Construction Manager, or notify the Construction Manager and Owner in writing of the Architect’s reasons for
withholding a certificate as provided in Section 9.5.1 of the AIA Document A201-2007. The time periods stated in
this Section supersede those stated in Section 9.4.1 of the ALA Document A201—2007. The Architect is not
responsible for verifying the accuracy of the Construction Manager’s final accounting.
§ 7.2.3 If the Owner’s auditors report the Cost of the Work as substantiated by the Construction Manager’s final
accounting to be Jess than claimed by the Constmiction Manager, the Construction Manager shall be entitled to
request mediation of the disputed amount without seeking an Initial decision pursuant to Section 15.2 of A20I-—
2007. A request for mediation shall be made by the Construction Manager within 30 days after the Construction
Manager’s receipt of a copy of the Architect’s fina! Certificate for Payment. Failure to request mediation within this
30-day period shall result in the substantiated amount reported by the Owner’s auditors becoming binding on the
Construction Manager. Pending a final resolution of the disputed amount, the Owner shall pay the Construction
Manager the amount certified in the Architect’s final Certificate for Payment.
§ 7.2.4 lf, subsequent to final payment and at the Owner’s request, the Construction Manager incurs costs described
in Section 6.1.] and not excluded by Section 6.8 to correct defective or nonconforming Work, the Owner shall
reimburse the Construction Manager such costs and the Construction Manager’s Fee applicable thereto on the same
basis as if such costs had been incurred prior to final payment, but not in excess of the Guaranteed Maximum Price.
if the Construction Manager has participated in savings as provided in Section 5.2.1, the amount of such savings
shall be recalculated and appropriate credit given to the Owner in determining the net amount to be paid by the
Owner to the Construction Manager.
ARTICLE 8 INSURANCE AND BONDS
For all phases of the Project, the Construction Manager shall purchase and maintain insurance, and the Construction
Manager shall provide bonds as set forth in Article 11 of AIA Document A201-2007.
(State bonding requirements, if any, and limits of liability for insurance required in Article 1] of AIA Document
4201-2007.)
Type of Insurance or Bond __ Limit of Liability or Bond Amount ($0.00)
ee oak
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