WORLD TRADE CENTER - RESIDENTIAL APARTMENTS

NYC 9/11 Public Portal Document

HTC—PEP Irtforaakion Por and Snoolv A Service Agreeagnt (Rev, tt/93)

emoted pursuant to this Agreement.

ARTICLE 5b, SUBMT?gTO.N OF REQUESTS FOR PAYMENT If this contract allows fm* partial payments fx* lump sum wok a* unit price payments in accordance widi Ardde 41. die Cxasttasax shaU sidi^ a maximum of me request for payment per moodi (30 day period). Requests fa* payments in excess of one per month will be recumed to die COTtraccor; such invoices will not be subject to the Prcmqit Paynoent cmditicxis of Ardde 39.

5h. I The City agrees to pay and die Caxtracto* agrees to acoqjc, as fall oxsideratian for die conqitee and sansfacrery p^exmazree of die services required herein, the amount set fordi in his ind.

5b.2 The Ccaitxactor dall stdanit nnntbered invoices fa* paymem in aocnrdanoe with die paymem schedule estaWished in the Spedfieaxions of this Contract. Such invoices shall se forth the services for which payment is recpiesred. and ^jjxoval thereof of the Department shall be a prerequisite to payment. AU payments shaU be suig^ to such provisioas fen* set as may be set forth in tins Agreement ami in die Specificatiems awaffhpd hereto.

5b3 Payments shall be made out of such mcmeys as may be reserved by the Con^jtroUer of die City of New York for die purpose herein provided.

S1.4 The ccmract and all payinems hereunder shall be sui^ect to audit by die Department of Environmental Protection and post audit by the Comptroller of die city in accordance with the New York City Charter and Administrative Code.

5b.5 The City of New y<xk is exempt frtm the payment of any Federal, Stare and City sales or excise taxes. The Contractors attentitm is directed to No. I altarfied hereto and made a part hereof, which more fully explains this exemptiOTi-

ARTICLE 6- BONDS, INSURANCE. LIQUIDATED DAMAGES. MAINTENANCE AND GUARANTY

6.1 PERFORMANCE AND PAYMENT BONDS A. Prior to a* at the time of the executiem of the Contract, if required by A, the successhd ladder must deliver to the City of New York, an bemd equal to the percem scared in die Schedule A ax the General Gmditiais of dre eontraet, as security for the payment of all persons performing labor or fumiaiing materials in connection with this Contract. prepared on dre fams of bonds authorized by dre City of New York, and having as surety thereunder, sudi saroy conqiany a* companies as are aqiproved Ity die C5ty of New York and are authorized to do business m tire Stare of New York.

B. in lieu of a Perfomance and Conpietion Bond and Labor and Material Bond, a contractor may deposit with tire Comptroller money, or obligations of the Qty of New York whic± tire Comptroller shall approve as of equal value with the amount of dre F^ormance and

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