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already received by the Contractor plus payrolls for the period covered by the present Application for Paytnent,less that portion of the progress payments attributable to the Contractor's Fee. § MIA Fach Application for Payment shall he based on t11e most recent schedule of values submitted by the Contractor in accordance with the Contract Documents.The schedule of values shall allocate the entire Guaranteed Maximum Price among:(1)the various portions of the Work;(2)any contingency for costs that are included in the Guaranteed Maximum Price but not otherwise allocated to another line item or included in a Change Order;and(3)the Contractor's Fee. § 12.1.5.1 The schedule of values shall be prepared in such form and supported by such data to substantiate its accuracy as the Architect may require.Tire schedule of values shall be used as a basis for reviewing the Contractor's Applications for Payment. § 12.1.5.2 The allocation of the Guaranteed Maximum Price tinder this Section 12.1.5 shall not constitute a separate guaranteed maximum price for the Cost of the Work of each individual line itern in the schedule of values. § 12.1.5.3 When the Contractor allocates costs from a contingency to another line item in the schedule of valued,the Contractor shall submit supporting documentation to the Architect. § 12A.6 Applications for Payment shall show the percentage of completion of each portion of the Work as of the end of the period covered by the Application for Payment.The percentage of completion shall be the lesser of(1)the percentage of that portion of the Work which has actually been completed;or(2)the percentage obtained by dividing (a)the expense that has actually been incurred by the Contractor on account of that portion of the Work and for which the Contractor has made payment or intends to make payment prior to the next Application for Payment,by(b)the share of the Guaranteed Maximum Price allocated to that portion of the Work in the schedule of values. § 12.1.7 In accordance with AiA Document A201-2017 and subject to other provisions of the Contract Documents, the amount of each progress payment shall be computed as follows: § 12.111 The amount of each progress payment shall first include: .1 That portion of the Guaranteed Maximum Price properly allocable to completed Work as determined by multiplying the percentage of completion of each portion of the Work by the share of the Guaranteed Maximum Price allocated to that portion of the Work in the most recent schedule of values; .2 That portion of the Guaranteed Maximurn Price properly allocable to materials and equipment delivered and suitably stored at the site for subsequent incorporation in the completed construction or, if approved in writing in advance by the Owner,suitably stored off the site at a location agreed upon in writing; .3 That portion of Construction Change Directives that the Architect determines.in the Architect's professional judgment,to be reasonably justified;and .4 The Contractor's Fee,computed upon the Cost of the Work described in the preceding Sections 12.1.7.1.1 and 12.1.7.1.2 at the rate stated in Section 5.1.1 or,if the Contractor's Fee is stated as a fixed sutra in that Section,an amount that bears the same ratio to that fixed-sum fee as the Cost of the Work included in Sections 12.1.7.1.1 and 12.).7.1.2 bears to a reasonable estimate of the probable Cost of the ~Work upon its completion. § 12.1.7.2 The amount of each progress payment shall then be reduced by: .1 The aggregate of any amounts previously paid by the Owner; .2 The amount,if any,for Work that remains uncorrected and for which the Architect has previously withheld a Certificate for Payrr. tti_ati�rtsr�ide I in Anti•te�nf a to hn�ucn xtt A201-20 t 7F----- .3 Any amount for which the Contractor does not intend to pay a Subcontractor or material supplier, unless the Work has been performed by others the Contractor intends to pay; A For Work performed or defects discovered since the last payment application,any amount for which the Architect may withhold payment,or nullify a Certificate of Payment in whole or in part,as provided in Article 9 ofAtA Document A201--2017; .5 The shortfall,if any,indicated by the Contractor in the documentation required by Section 12.).4 to substantiate prior Applications for Payment,or resulting from errors subsequently discovered by the Owner's auditors in such documentation;and Init. AtA Document A102 -2017,CopyrightF3 1920,1925,1951,1958,1961,1963,1%7,1974,1978,1987.1997,2007 and 2017.All rights reserved'The American Institute of Architects,'"American Institute of Architects,'"AIA,`the AIA Logo,and"AIA Contract Documents"are trademarks of The American Institute of Architects. 10 This document was produced al 15:07:01 CT on I V12!2023 under Order No.410424061 T which expires on 0311012024,is not for resale,is licensed for one,-time ! use only,and may only be used in accordance with the AIA Contract Documents',Terms of Service.To report cooynght violations,e-mail doanfc@aiaccntracts.com. User Notes: (1465209683)