RIDGE VIEW COMMONS - CONSTRUCTION LOAN

1 54954 award and amount of the accepted bid. Such work shall be contracted for in accordance with the terms of this Agreement. If requested by Owner prior to signing this Contract, Owner may review the prospective subcontractor list and request substitutions, the Contract Price to be adjusted accordingly. The Contractor, being fully responsible for the general management of the building operation, shall have full directing authority over the execution of the subcontracts. ARTICLE 4. LIEN WAIVERS The Contractor will provide whatever documentation, deposits or surety reasonably required by the title insurance company providing title insurance on the development in order to obtain lien free endorsements prior to the Owner's payment of any Appliation for Payment. ARTICLE 5. TITLE TO IMPROVEMENTS Contractor warrants and guarantees that title to all work, materials and equipment covered by an Application for Payment, whether incorporated in the Project or not will pass to Owner upon receipt of such payment by the Contractor and such title shall be free and clear of all liens, claims, security instruments or encumbrances hereinafter referred to as Liens. ARTICLE 6. EFFECT OF PROGRESS PAYMENT No Progress Payment nor any partial or entire use or occupancy of the Project by the Owner shall constitute an acceptance of any Work not in accordance with the Drawings and Specifications. ARTICLE 7. EVIDENCE OF PAYMENT Before issuance of Final Payment, the Contractor shall submit satisfactory evidence that all payrolls, materials bills and other indebtedness connected with the Project have been paid or otherwise satisfied. ARTICLE 8. PUNCH LISTING Contractor will perform majority of punch list work prior to requesting approval by Owner. Architect and Owner's Representative, Inspection Staffing, will do final review and prepare list of deficient items. After deficiencies are repaired, minor surface defects or additional cleanup which are the result of the Owner's occupancy of the apartments will not be the Contractor's responsiblity. ARTICLE 9. PAYMENTS The Owner will pay ninety percent (90 %) of the amount approved for payment after review of the Contractor's Applications for Payment submitted pursuant to Section 14.1 of standard AIA Document A 111 -1978. The balance of the payments shall be paid at the time of final payment. ARTICLE 10. LABOR RELATIONS Contractor acknowledges that Contractor is responsible for administration of the work site, including labor relations. Contractor agrees to pay Davis -Bacon wages, and to take other necessary steps to avoid labor conflicts at the Project site.