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6-01. Payments: Attention is directed to Section 9-1.16, "Partial Payments," and 9-1.17, <br />"Payment After Acceptance," of the State Standard Specifications and these City General <br />Provisions. <br />As of the 20th day of each month, requests for progress payment listing amount and value <br />of work performed during that month may be submitted for review. Upon review and <br />approval or adjustment by the Engineer, progress payment will be made, retaining five <br />percent (5%) of the amount due. Requests submitted promptly as of the twentieth of the <br />month will be paid normally by the tenth of the following month. <br />The Bidder's attention is directed to the provisions of Section 9 of the Standard <br />Specifications and the following modification, all of which are applicable to this <br />Contract: <br />Upon receipt of written notice that the work is ready for final inspection and <br />acceptance, the Engineer shall, within five (5) days, make such inspection, and when <br />the Engineer finds the work acceptable under the Contract and the Contract fully <br />performed, the Engineer will recommend to the City Council (at the next following <br />Council meeting) that the Contract be accepted and a "Notice of Completion" be <br />prepared and recorded. The entire balance found to be due the Contractor, including <br />the retained percentage, shall be paid to the Contractor by the City within fifteen (15) <br />days after the expiration of thirty (30) days following the date of recordation of the <br />Notice of Completion. <br />The Contractor shall supply with each progress payment request (with the exception <br />of the first progress payment submittal) an email, fax or letter from each <br />subcontractor stating: (a) the date that he/she has received his/her portion of the <br />preceding payment; and (b) if the payment received was the total amount then due. <br />Should the payment not include the total amount invoiced due to a dispute, the <br />subcontractor shall include the details of such dispute in his/her letter with enough <br />information for the City to verify that the provisions of Section 7108.5 of the CA <br />Business and Professions Code have been met. <br />Before the final payment is due, the Contractor shall submit evidence satisfactory to <br />the Engineer that all payrolls, material bills, and other indebtedness connected with <br />the work have been paid, except that in case of disputed indebtedness or liens, the <br />Contractor may submit in lieu of evidence of payment, a surety bond satisfactory to <br />the City guaranteeing payment of all such disputed amounts when adjudicated in <br />cases where such payment has not already been guaranteed by surety bond. <br />6-02. Substitution of Securities in Lieu of Retention: Pursuant to Section 22300 of the <br />Public Contract Code, the Contractor may substitute securities for any money held by the <br />City to insure performance of the contract. At the request and expense of the Contractor, <br />securities equivalent to the amount withheld shall be deposited with the City or federally - <br />chartered banks as an escrow agent, who shall return such securities to the Contractor <br />upon satisfactory completion of the contract. Deposit of securities with an escrow agent <br />shall be subject to written agreement in accordance with the provisions of Section 22300. <br />The City shall not certify that the contract has been completed until at least 35 days after <br />Valley Avenue Soundwall Repair Project (REBID), CIP No. 18437 <br />Page 42 <br />