SIEMENS BUILDING TECH 1 -2003 - Laserfiche WebLink

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Invoiced on a Monthly Basis. Project Completion Total: $288,712.00 $2,887,120.00 Customer will retain 10% of total project cost until City signs the certificate of substantial completion. Contractor will invoice the Customer 5 days prior to the payment dates listed above for project mobilization, materials both on and off the Customer's property, and all work related to the FIM's. Payment is due on or before the payment due date. In the event Customer and Contractor do not agree on scope and/or quality, or acceptability, of the work completed, Customer may suspend payment and notify Contractor of failure to complete Scope of Work pursuant to this Agreement. Said non-payment will not constitute default. If the Customer becomes more than thirty (30) business days overdue on any progress payment Contractor may elect to suspend working. If work is suspended due to non- payment all guarantees are extended in an equal time period from the original or last extended invoice date. Section 4. FiNANCiNG This Agreement is contingent upon the funding of an Escrow Account in an amount equal to or greater than the Scope of Work. Contractor may waive the Escrow Account requirements contingent upon obtaining Contractor's credit approval. If the escrow account is not funded or the Customer has not obtained credit approval within forty-five (45) days from the execution of this Agreement, this Agreement shall be null and void. This forty-five (45) day period may be extended as mutually agreed upon in writing by both parties. In the event that the Agreement becomes null and void as described in the preceding paragraph and Customer authorized Contractor to proceed with Scope of Work, Customer shall be obligated to reimburse Contractor for the Scope of Work performed. Section 5. CERTIFICATE OF SUBSTANTIAL COMPLETION, ACCEPTANCE When Contractor believes that all, or an independent, definable phase, of the Scope of Work has been completed in accordance with the terms of this Agreement, Contractor will submit a Certificate of Substantial Completion to the Customer. If the Scope of Work substantially conforms to the description of said Scope of Work, the Customer will sign the Certificate of Substantial Completion and return it to Contractor. If the Scope of Work does not substantially conform, then the Customer Representative shall so notify Contractor within ten (10) business days of receipt the aforementioned certificate. Upon notification of the discrepancies the Contractor shall correct the discrepancies to conform with the Scope of Work and resubmit the Certificate of Substantial Completion to the Customer. Section 6. AUTHORITY AND AUTHORIZATION. Customer and Contractor each represent, warrant and covenant that each has done all things necessary to preserve and keep in full force and effect the existence of the Agreement; all requirements have been met and procedures have been followed to ensure the enforceability of the Agreement and there is not any pending, or to the best of Customer's knowledge, threatened, suits or actions, litigation or proceedings against or affecting Customer that affects the validity or enforceability of this Agreement.