Subcontractors

6.04 Seller and Buyer shalt execute this Procurement Agreement within 45 days after the Contractor's/Buyer's Notice toProceed from the Owner. Should the Procurement Agreement not be executed within said 45 days due to the fault of theBuyer, the Buyer shall be subject to the additional costs identified in Article 6.03, Paragraph B above. Should the ProcurementAgreement not be executed within the said 45 days due to the fault of the Seller, Seller shall be subject to the liquidateddamages provisions in Article 5.05 above. The issue of fault will be determined by the Engineer.6.05 Seller agrees that the prices in this Article 6 are based on the condition that shipment of goods may be delayed by theBuyer until the date stated in Article 5.03, Paragraph C above.ARTICLE 7 - PAYMENT PROCEDURES7.01 Submittal and Processing ofPayments.A. Seller shall submit Applications for Payment in accordance with Article 10 of the General Conditions. Applications forPayment will be processed by the Buyer and Engineer as provided in the General Conditions.7.02 Progress Payment; Retainage.A. Buyer shall make progress payments on account of the Contract Price on the basis of Seller's Applications forPayment as follows:1. Uponreceipt of the first Application for Payment submitted in accordance with Paragraph 10.01.A.1 of the GeneralConditions an amount equal to the cost of Shop Drawing preparation and cost of manufacturing of Goods, less any amountsretained by the Owner from the Buyer and less such amounts as Engineer may determine in accordance with Paragraph10.02.A.3 of the General Conditions.2. Upon receipt of the second and subsequent such Application for Payment in accordance with Paragraph 10.01.A.2 ofthe General Conditions, an amount sufficient to increase total payments to Seller by the amount of the costs for SpecialServices performed to date, less any amounts retained by the Owner from the Buyer and less such amounts as Engineer maydetermine in accordance with Paragraph 10.02.A.3 of the General Conditions.3. No payment for Goods or Special Services shall be made until Goods are delivered to the Project Site.7.03 Final PaymentA. Upon final completion of the delivery of the Goods and performance of all Special Services and upon receipt of the finalApplication for Payment in accordance with Paragraph 10.06 of the General Conditions, Buyer shall pay the remainder of theContract Price, including retainage.ARTICLE 8 - INTEREST8.01 All monies not paid when due as provided in Article 10 of the General Conditions shall bear interest at the rate of sixpercent per annum.ARTICLE 9 - SELLER'S REPRESENTATIONS9.01 In order to induce Buyer to enter into this Agreement, Seller makes the following representations:A. Seller has examined and carefully studied the Contract Documents and the other related data.B. If specified or if, in Seller's judgment, any local condition may affect cost, progress or the fiunishing of the Goods andSpecial Services, Seller has visited the Point of Destination and become familiar with and is satisfied as to the local conditions thatmay affect cost, progress or the fiinishing of the Goods and Special Services.EJCDC P-520 Form of Agreement Between Buyer and Seller for Procurement ContractsCopyright 02000, National Society of Professional Engineers. All rights reserved.00520-402001-158 Odor Control (Biotower) System