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AGREEMENT BETWEEN OWNER AND CONTRACTOR FOR <br />CONSTUCTION CONTRACT <br />Karth Lake Runoff Control <br />City Project PW-20-0111 29 <br />B.Fifty (50) percent of cost of materials and equipment not incorporated in the Work (with the <br />balance being retainage). <br />5.03 Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to <br />Contractor to 100 percent of the Work completed, less such amounts set-off by Owner pursuant to <br />Paragraph 15.01E of the General Conditions, and less 200 percent of Engineer’s estimate of the value <br />of Work to be completed or corrected as shown on the punch list of items to be completed or corrected <br />prior to final payment. <br />5.04 Final Payment: Upon final completion and acceptance of the Work in accordance with Paragraph <br />15.06 of the General Conditions, Owner shall pay the remainder of the Contract Prices as <br />recommended by Engineer as provided in said Paragraph 15.06. <br />ARTICLE 6 – CONTRACTOR’S REPRESENTATIONS <br />6.01 In order to induce the Owner to enter into this Contract, Contractor makes the following <br />representations: <br />A.Contractor has examined and carefully studied the Contract Documents, and any data and <br />reference identified in the Contract Documents. <br />B.Contractor has visited the Site, conducted a thorough, alert visual examination of the Site and <br />adjacent areas, and become familiar with and is satisfied as to the general, local, and Site <br />conditions that may affect cost, progress, and performance of the Work. <br />C.Contractor is familiar with and is satisfied as to all laws and regulations that may affect cost, <br />progress, and performance of the Work. <br />D.Contractor has carefully studied all reports of explorations and t ests of subsurface conditions at <br />or adjacent to the Site and all drawings of physical conditions relating to existing surface or <br />subsurface structures at the Site that have been identified in the Contract Documents, and reports <br />relating to Hazardous Environmental Conditions, if any, at or adjacent to the Site that have been <br />identified in the Contract Documents. <br />E.Contractor has considered the information known to Contractor itself; information commonly <br />known to contractors doing business in the locality of th e Site; information and observations <br />obtained from visits to the Site; the Contract Documents; and the site-related reports identified in <br />the Contract Documents, with respect to the effect of such information, observation, and <br />documents on (1) the cost, progress and performance of the Work; (2) the means, methods, <br />techniques, sequences, and procedures of construction to be employed by the Contractor; and <br />(3) Contractor’s safety precautions and programs. <br />F.Based on the information and observations referred to in the preceding paragraph, Contractor <br />agrees that no further examinations, investigations, explorations, tests, studies, or data are <br />necessary for the performance of the Work at the Contract Price, within the Contract Times, and <br />in accordance with the other terms and conditions of the Contract. <br />G.Contractor is aware of the general nature of work to be performed by Owner and others at the <br />Site that relates to the Work as indicated in the Contract Documents. <br />H.Contractor has given Engineer written notice of all conflicts, errors, ambiguities, or discrepancies <br />that Contractor has discovered in the Contract Documents, and the written resolution thereof by <br />Engineer is acceptable to Contractor. <br />I.The Contract Documents are generally sufficient to indicate and convey un derstanding of all <br />terms and conditions for performance and furnishing of the Work.