Owner's option, estimates for the cost of completing each such item. The balance of any sum(s) so withheld, if any, shall be paid to Contractor upon completion of the item(s) by Owner and payment therefore from the withheld sum(s).
ARTICLE 6 TERMINATION OR SUSPENSION
The Contract may be terminated by the Owner or the Contractor as provided in Article 14 of the PROJECTS General Conditions.
The Work may be suspended by the Owner as provided in Article 14 of the PROJECTS General Conditions.
ARTICLE 7 MISCELLANEOUS PROVISIONS
Where reference is made in this Agreement to a provision of the PROJECTS General Conditions to the Construction Contracts or another Contract Document, the reference refers to that provision as amended or supplemented by other provisions of the Contract Documents. Payments due and unpaid under the Contract shall bear interest from the date payment is due at the rate stated below, or in the absence thereof, at the legal rate prevailing from time to time at the place where the Project is located. The rate of interest shall be Prime + 8 percent, compounded
monthly. (USIIIY laws and requirements under the Federal Tnttlz in Lending Act, similar state and local consumer credit laws and other regulations at the Olllner's andContractor's principal places o/business, the location o/the Project and elsewhere may affect the validity ofthis provision. Legal advice should be obtailled with respect to deletions or modifications, and also regarding requirements such as written disclosures or waivers.)
The Owner's representative is:
Ed Romero Santa Fe Civic Housing Authority 664 Alta Vista Street Santa Fe, NM 87125 (505) 988 2859
The Contractor's representatives are:
_ _ _ _ __
Neither the Owner's nor the Contractor's representative shall be changed without ten days written
notice to the other party.
Contractor will provide list of Subcontractors to Owner for the project upon request.
Contractor shall not assign or sublet its obligations to perform this Agreement or any portion of the Work without Owner's prior written consent. Any assignment or subletting without such written consent shall be void. Owner's consent to any such assignment or subletting shall not in any manner relieve Contractor of its obligations to Owner for performance of the Work, and contractor shall remain fully liable for the work of its suppliers, assignees and Subcontractors. This section does not apply to Subcontractors.
Contractor shall include with every Subcontract agreement the following language: "Subcontractor binds itself to Contractor and Owner, and is obligated to Contractor and Owner, in the same manner and to the same extent that Contractor is bound and obligated to Owner under the Prime Contract All rights which Owner may exercise and enforce against Contractor may be exercised and enforced by Contractor against Subcontractor. In the event of any dispute between the Owner and Contractor, Subcontractor shall be bound by all decisions, directives, interpretations and rulings of the Owner or the Architect, at Owner's option, including Owner's termination or suspension of Contractor."
Contractor represents that (I) it has sufficient knowledge and expertise to construct the Work in accordance with all applicable codes and regulations; (2) it has reviewed, analyzed, and has current knowledge of the site; and (3) it has reviewed, analyzed, and has found sufficient for completion of the Work the Contract Documents listed in Article 8 of this Agreement. Contractor