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b. Progress payments shall not exceed an amount equal to 75 percent of <br />cost of materials and equipment not incorporated in the Work but <br />delivered, suitably stored and accompanied by documentation <br />satisfactory to OWNER as provided in paragraph 14.02 of the <br />General Conditions (with the balance being retainage). <br />C. Progress payments shall not exceed an amount of equal to 90 percent <br />of cost of materials incorporated in the work, installed, but not tested <br />through official start-up and witness by OWNER's Project <br />Representative. <br />d. Progress payments shall not exceed an amount of equal to 95 percent <br />of cost of materials incorporated in the Work, installed, and tested <br />through official start-up and witness by OWNER'S Project <br />Representative. <br />2. Upon Substantial Completion, OWNER may pay an amount sufficient to <br />increase total payments to CONTRACTOR to 100 percent of the Work <br />completed, less 200 percent of ENGINEER's estimate of the value of Work <br />to be completed or corrected attached to the Certificate of Substantial <br />Completion. <br />6.03 Final Payment <br />A. Upon final completion and acceptance of the Work in accordance with paragraph <br />14.07 of the General Conditions, OWNER shall pay the remainder of the Contract <br />Price as recommended by ENGINEER as provided in said paragraph 14.07. <br />Article 7. INTEREST <br />7.01 All moneys not paid when due as provided in Article 14 of the General Conditions <br />shall bear interest at the maximum rate allowed by law at the place of the Project. <br />Article 8. CONTRACTOR'S REPRESENTATIONS <br />8.01 In order to induce OWNER to enter into this Agreement CONTRACTOR makes <br />the following representations: <br />A. CONTRACTOR has examined and carefully studied the Contact Documents and <br />the other related data identified in the Bidding Documents. <br />B. CONTRACTOR has visited the Site and become familiar with and is satisfied as to <br />the general, local and Site conditions that may affect cost, progress, and <br />performance of the Work. <br />SB W WTP Digester Gas Utilization Design <br />Project No. 116-050 R 00 52 00-4 <br />