WORLD TRADE CENTER - RESIDENTIAL APARTMENTS

NYC 9/11 Public Portal Document

MYC—PEP Infomation For Biddears and Supply * Service Aqree»ent (Rev. 11/93)

As security for the faithful performance fay the Contractor of his obligations hereunder. die Cmnprtdier shall retain from the final p^rment hereunder the sum fixed in the Specificadons. If the Contractor has feitfafeOy p^camed all his diligadoos hereunder the CtnnmissicHier shall so certify to the CaaBpatiOsr within five 6) days after die expiradoo erf one (1) year from die date of cemqdetkm and acoepanoe of die wnk or within five (5) d^ after die exjxmdon of the guarantee period fi»d in die spedficadom. The sum shall be xepaid to the Coocaet without interest within thiriy (30) days after cerdficatmo by die Comnusaaner to die Carqarolier that die Ccmtractm- has feithfuliy performed all his oUigadons hereunder.

Nodoe fay die Commisaaier to die Contraetorto repair, r^daee, rebuild ca- zestne sudt defective or damaged work shall be dmdy if given no later than ten (10) days subsequent to the eaqaration of die one (1) year period or odier periods povuied fa* hereiiL

If the Coaoaenx' shall fen to repair, reydace. rebuild or restore such d^iective <r damaged work pnampdy after having receiving such notice the Gxnmissiaier shall have the right to have die work done fay others in die same manner as is provided for the ooaqdedan of a defaulted contract, under Ardde 12 hereof and to deduct de cost thereof frem the amount retained hereunder. The balance, if any, shall be naumed to die (Contractor without interest.

If die anKXBJt so retained be insufficiettt to cover die cost of such work, die Contracuar Shan be liable to pay sadi deficiency on demand fay die CcmptroDer. x

The Prcgect Manager's cemficatB sating fcxlfa fte fair and reascsiabte cost of r^airing, n^iacing. rEdsiilding or restonng ai^ damagoi or defective wok when perfbnned by <me other than the CtaitractcH' shall be bindisg aixi condusive as to the amount thereof igxni die Contractor.

The Contractor diall obtain all roanixfactarer's warranties and gHararipgs of all eqtiipinent and materials required by dais Contract in the name of die City of Neu- York and shall deliver same to die CiQ'.

6.5 RETAINED P ^AGE - IF SO STAT INSCT 13» >ULE A A. As furdiersBCuriQ^ for the feidiful performance of this contract, die Conmissicxier shall deduct, and retain, until die substandal csxnpletioD of die weak, a percent, as indicated in the Sdiedule A, General Conditions, of this ccsiiract, die vahie of work certified for payment in eadi partial payment voucher, in case of a unit ^sice contract a percent, as indicated in the Sdiedule A. of the estimated amount to be paid to the Ccaitractor under die CcmaacL

6. However, in contracts where full performance and payment bemds are not fiunidied as furdier security fex'the faithful performance of this contract, the Ctxnmxsskmer^xail deduct, and retain until the substantial amqdeticm of the work, ten (10) percent of die value of wwk certified for payment in each partial payment voudier, or. in case of a unit jaice contract. ten (10) percent of the estimated amount to be paid to die Cozaactor under the cootracL

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