AGREEMENT between BROWARD COUNTY and Cummings ...

Exhibit 2
Page 37 of 379
Terminal 4 Gate Replacement – Western Expansion
schedule. CA may request CONTRACTOR to submit additional information
to support its Application for Payment;
as applicable, a consent of the surety as to release of final payment or
release of retainage; and
Time sheets for management services in a form acceptable to the CA.
.
8.6.3 Ten percent (10%) of all monies earned by CONTRACTOR shall be retained by
COUNTY until 50% of the Work is completed and accepted by the CA, excluding
General Conditions. After fifty percent (50%) of the Work has been completed,
the CONTRACTOR may request and the CA shall reduce the retainage to five
percent (5%) of all monies previously earned and all monies earned thereafter,
except CONTRACTOR’s General Conditions, with consent and release of
Surety. After ninety percent (90%) of the Work has been completed, the
CONTRACTOR may request and the CA may reduce the retainage to two and
one-half percent (2-1/2%) of all monies previously earned and all monies earned
thereafter, except CONTRACTOR’s General Conditions, with consent and
release of Surety. Nothing contained herein; however, requires the COUNTY to
pay or release any amounts that are the subject of a good faith dispute, the
subject of a claim brought pursuant to s. 255.05, Florida Statutes, or otherwise
the subject of a claim or demand by the COUNTY or CONTRACTOR.
8.6.4 Subsequent to Final Completion and prior to Final Payment, CA may reduce
retainage to a nominal amount at the sole discretion of the CA. Any reduction in
retainage shall be in the sole discretion of the CA, shall be recommended by
PMO and CPM and CONTRACTOR shall have no entitlement to a reduction. In
addition, the CA may authorize release of retainage as to a particular
Subcontractor or trade when the work of that Subcontractor or trade is
satisfactorily completed. Any interest earned on retainage shall accrue solely to
the benefit of COUNTY. CA may require consent of Surety prior to any release or
reduction of retainage.
8.6.5 COUNTY may withhold, in whole or in part, payment to such extent as may be
necessary to protect itself from:
8.6.5.1 Defective CONTRACTOR or Subcontractor Work not remedied.
8.6.5.2 Claims filed or reasonable evidence indicating probable filing of claims by
other parties against CONTRACTOR.
8.6.5.3 Failure of CONTRACTOR to make payments properly to Subcontractors
or for material or labor.
8.6.5.4 Damage to another contractor not remedied.
8.6.5.5 Liquidated damages and costs incurred by PMO, CPM, COUNTY or
Consultant for extended construction administration.
8.6.5.6 Failure of CONTRACTOR to provide any and all documents required to
be provided to COUNTY by the terms of the Contract Documents.
CM @ Risk Agreement R0787918R1 Page 36 of 85