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Item Units and Limitations Price Per Unit § 4.4 Allowances included in the Contract Sum, if any: (Identify allowance and state exclusions, if any, from the allowance price.) Item Price ARTICLE 5 PAYMENTS § 5.1 PROGRESS PAYMENTS 5.1.1 Based upon. Applications for Payment submitted to the Architect by the Contractor and Certificates for Payment issued by the Architect, the Owner shall make progress payments on account of the Contract Suns to the Contractor as provided below and elsewhere in the Contract Documents. § 51.2 The period covered by each Application for Payment shall be one calendar month ending on the last day of the month, or as follows: § 5.13 Provided that an Application for Payment is received by the Architect not later than the 20 h day of a month, the Owner shall make payment of the certified amount to the Contractor not later than the 15,3, day of the Following month. If an Application for Payment is received by the Architect after the application date fixed above, payment shall be made by the Owner not later than Thirty 30 ) days after the Architect receives the Application for Payment. (Federal, state or local laws may require payment within a certain Period of time.) § 5.1.4 Each Application for Payment shall be based on the most recent schedule of values submitted by the Contractor in accordance with the Contract Documents, The schedule of values shall allocate the entire Contract Sum among the various portions of the Work. The, schedule of values shall be prepared in such form and supported by such data to substantiate its accuracy as the Architect may require. This schedule, unless objected to by the Architect,, shall be used as a basis for reviewing the Contractor's Appl izatians for Payment. § 5.1.5 Applications for Payment shall show the percentage of completion of each portion of the Mork as of the end of the period- covered by the Application for Payment. § 5.1.6 Subject to other provisions of the Contract Documents, the amount of each progress payment shall be competed as follows: .+1 Take that portion of the Contract Sum properly allocable to completed Work as determined by multiplying the percentage completion of each portion of the Work by the share of the Contract Sum al located to that portion of the Work in the schedule of values, less retai nage of Ten Percent 10% ).Pending final determination of cost to the Owner of changes in the Work, amounts not in dispute shall be included as provided in Section 7.3.9 of AIA Document A20 TM -2007, General Conditions of the Contract for Construction; .2 Add that portion of the 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 the site at a location agreed upon in writing )} less retainage of Ten Percent ( log ); .3 Subtract the aggregate of previous payments made by the Owner; and .4 Subtract amounts, if any, for which the Architect has withheld or nullified a Certificate for Payment as. provided in. Section 9.5 of AIA. Document A201- -2007. § 5.1..7 Th.e progress payment a rrxoun t determined in accordance with Section 5.1,6 shall be further modified under the following circumstances: .1 Add, upon Substantial Completion of the, Work, a sum sufficient to increase the total payments to the full amount of the Contract Sum, less such amounts as the Architect shall determine for incomplete Work, retainage applicable to such work and unsettled claims; and AIA Document Al GI T9 -- 2007, Copyright C 1 X15, 1918, 1 925, 1937" 1 951 1.958, 1 R81, 1953, 1 967, 1 974, 1977, 1987.1 991, 1 997 and 20D7 by The 1 nit. American Institute of Architects. All rights resented. WAtRNING.6 This Al Document is protected by U.S, Copyright Low and International Treaties, 4 UnaLdhorized reproduction or distribution of this Ate Documentt_or any port on of it, may result in severe civil and criminal penalti -es, and will be i prosecuted to the maximum extent possible under tho lore. This document was produced by AAA software at 15:25:30 on 06/04 O8 undar Order No.10003513 t 0_1 Which expiros on 4/712OD9, and is not for resale. User Notes: (2357829905)