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OOSO0 NOI~3]S
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E. Contract Price
The Owner will pay the Contractor in current funds for the performance of the work, subject to
additions and deductions by Change Order, the Total Contract Lump Sum Price of one hundred and
forty nine thousand three hundred and eiqhty eiqht dollars and 30/100 Dollars ($149,388.30).
Payments will be made to the Contractor based on the Lump Sum Bid amount, the Schedule of Values,
and subject to completion of the work, in accordance with the Contract Documents.
F. Payments
The Owner will make payments as provided in the General Conditions and Supplementary Conditions.
Progress p~yments Will be made in an amount equal to 90% of the value of Work completed, less, in
each case, the aggregate of payments previously made, At the sole discretion of the OWNER, monthly
progress payments may be increased after 50% of the Work is completed to 95%.of the value of Work
completed less the aggregate of previous payments provided that: a) Contractor is making satisfactory
progress, and b) there is no specific cause for greater withholding. However, the OWNER may
subsequently resume retaining 10% of the value of Work completed and materials delivered if, in the
sole determination of the OWNER, the CONTRACTOR is not performing according to the Contract
Documents or not complying with the current progress schedule. This Agreement shall be binding upon
all parties hereto and their respective heirs, executors, administrators, successors, and assigns.
G. Engineer
The Project has been designed by the City of Sanford Enginerring and Planning Department., referred
to in the documents as the Engineer, whose authority during the progress of construction is defined
in the General Conditions and Supplementary Conditions.
1.03 IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first above
written.
CONTRACTOR:
Central Florida Environmental, Corp.
Name of Finm
By~~tu ~ '~ (SeaL)
re E '
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Attest:
OWNER:
Name of Owner
"' .,, ~- .'~'?'- /z.. r'F/!-..4 ~ (Seal) '
By~'~ure~andTitle)
END OF SECT!ON
00500-2