Res 1981-025 - Laserfiche WebLink

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fifteenth day' of the month following the close of the preceding quarter° Such reports sha].l be in the form, manner and with the number of copies as required by Department. Contractor shall also submit to Department at:: the same 'i::i. me t'he financial expenditure report is submitted, such reporting documents, invoices, or fiscal records as may be required by Department for audit purposes. Within a reasonable time after receipt of Contractor's quarterly financial expenditure repo'rt and quarterly request: :for payment, Department shall pay to Contractor an amount equal, to Departmental liabilities accrued as specified in Subsection B of t. his Section, which have not been previously billed to and subseqt~ently paid by Department. Notwithstanding the provisions of Paragraph 1 of this Subsection C, it is expressly understood and agreed by the Parties hereto that pay- ments under this contract are conditioned upon Contractor's full and satisfactory perfor'mance .of its obligations under this contrac:t. In addition to the limitation on payments imposed pursuant to Para- graph 2 of this Subsect:Lon C, it is expressly understood and agreed by the Parties hereto that if the Contractor fails to submit to Depart:me'~.~.t in a timely and satisfactory manner any .report required by this contract or any other contract the Department has with Contractor, the Depart.ment may, at its sole option and in its sole discretion, withhold any or all payments otherwise due and ow:£rq~ Contractor hereunder. If Department withholds such payments, it shall notify the: Contractor in writing of its decision and the reasons therefor. Payments withheld pursuant to this Paragraph may be held by the Department until such Rme as the delinquent obligations for wlhich funds are withheld are fulfilled by the Contractor. irt is furthe~,~ expressly understood and agreed by the Parties hereto that Contractor"s performance upon which final pa~ent is conditione~:t shall inc].ude, but not be limited to the following: (a) ff. ontractor's complete and satisfactory performance of its obligations for whihh final payment is sought; (b) timely ,~imbmission to the Department of the final, closeout or expendit,~re report ['equired under this contract; and (c) timely subm:[ssion of the records required under Section XXIV, Audit, of this contract. Prior to Contractor's performance of the above-listed obligations, the Department may, at its sole option and in its sole discretion, withhold the final payment, in whole or in part, until such time as Depa~'tment has determined from such final report and/or audit the final amount owing under this contract. Within a reasonable time following the determination by the Department of the final amount owing under th:is contract, the Department shall pay to Contractor the amount determined by Department to be the final amount owing under this contract. Page 4 of 15