Res 2005-050 - Laserfiche WebLink

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B. Upon completion of the Certificate of Final Inspection, contractor shall ensure that the following documents are submitted to the Administrator: i. statements from all subcontractors involved in the project; ii. Contractor's Final Invoice form; iii. Contractor's Non-Kickback Certification; iv. Release of Liens; and v. all contractor and manufacturer warranties. vi. After receipt of these documents, the Administrator shall cause a final joint check (less 10% retainage) to be issued to the owner and contractor. The Administrator shall obtain the homeowner's endorsement and deliver the check to the contractor. Upon delivery the contractor shall execute the Receipt of Final Payment, and this will effectively constitute completion of the project. C. After 30 days from final completion, the Administrator shall conduct a post-inspection along with the homeowner and contractor. If no discrepancies are found during the post-inspection, the Administrator will approve the release of the 10% retainage to the contractor. However, if discrepancies are noted, the Administrator shall withhold retainage in an amount equal to one and one-half times the value of the work remaining to be done. Upon completion of this work, another post-inspection shall be conducted, and if the work is completed to the satisfaction of the Administrator and the homeowner, the Administrator shall approve the release of the withheld retainage; otherwise, the same process is repeated. D. Following the completion and acceptance of the rehabilitation work, the Administrator shall take "after" rehabilitation pictures (interior and exterior) to provide a photographic record of the structure and improvements accomplished. E. Contractor Warranties i. All work performed by the rehabilitation contractor shall be guaranteed for a period of one (1) year. Such warranty shall be stipulated in the construction contract between the contractor and the homeowner. For a period of one (1) year, the homeowner may require the contractor to correct defects or problems arising from his or her work under this contract. Should the contractor fail to do so, the homeowner may take any necessary legal recourse as prescribed in the rehabilitation contract. A reasonable amount of time shall be given to correct the problem, but the contractor shall contact the homeowner within two (2) business days. F. Subsidy Recapture i. The HOME Program assistance funds for the Administrator will consist of funds in the form of a non-repayable grant. 17. FILES AND RECORDS