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3. Method of Payment. <br /> <br /> A. Progress Payments. As of the twentieth day of each month, <br /> Contractor may submit for review a request for progress payment, <br /> listing the amount and value of work actually performed during the <br /> preceding month, or part thereof. Upon the City Engineer's review <br /> and approval, including adjustments if any, Authority shall make a <br /> progress payment to the Contractor. <br /> <br /> B. 10% Retention. Ten pement (10%) of the amount due shall be <br /> retained by the Authority as a retention. The Authority shall retain <br /> ten percent (10%) of the contract amount for thirty-five (35) days <br /> after the Notice of Completion for the work is recorded. The <br /> Contractor may elect to receive 100 percent of payments due under <br /> the contract documents from time to time, without retention from <br /> any portion of the payment by the Authority, by depositing <br /> securities of equivalent value with the Authority in accordance <br /> with the provisions of Section 22300 of the California Public <br /> Contract Code. Such securities, if deposited by the Contractor, <br /> shall be valued by the Authority, whose decision on valuation of <br /> the securities shall be final. Securities eligible for investment <br /> under this provision shall be limited to those listed in Section <br /> 16430 of the California Government Code. <br /> <br /> C. Time of Payment. Requests submitted promptly as of the 20th day <br /> of each month will be paid by the 10th day of the following month. <br /> <br />4. Incorporation of Contract Documents. This Contract expressly incorporates all <br /> terms and conditions contained in the Contract Documents. In the event there is <br /> any conflict between this Contract and the Contract Documents, this Contract <br /> shall control. <br /> <br />5. Indemnification. Contractor shall indemnify, save and hold harmless from <br /> and defend the City and the Authority, members of the City Council and the <br /> Authority Board of Directors and their agents, servants and employees, <br /> against any and all claims, costs, demands, causes of action, suits, losses, <br /> expense or other detriment or liability arising from or out of acts or <br /> omissions of Contractor, its agents, sub-contractors, officials or employees, in <br /> connection with the execution of the work covered by this Contract or any <br /> amendments thereto. <br /> <br />6. Certification re: Workers' Compensation. In accordance with Section 1861 of the <br /> California Labor Code, each contractor to whom a public works contract is <br /> <br /> <br />