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HomeMy WebLinkAboutIndianapolis Stage and Sales - $55,040 Disbursement Instructions (PAC Stage Equipment) Regions Bank hereby is instructed to make a disbursement of Loan.Proceeds from the Borrower Loan Account to(or for the account of)Borrower in: (a)the amount of the"Total Authorized Disbursement" line in the "Amount of Authorized Disbursement"column below;and (b)accordance with the terms and conditions of the Agreement, the other Loan Documents, and the Disbursement Instructions. Purpose of Authorized Olaburaom•nl Amount of Authorized Disbursement At putt+ +o de fait Ly Villdje Fitt&ncidl, LLC Appl�ra�ion g (Ihdy 545e) Marc}, 2011 . YS, 00.00 Total Authorized Disbursement c **c All terms used in these Disbursement Instructions without definition shall have the meanings ascribed thereto In that certain Loan Agreement(PAC Stage Equipment),dated January 28,2010,by and between Lender and Village Financial, LLC. Dated: s/.vl// CITY OF CARMEL REDEVELOPMENT 11 COMMISSION By Printed Les S. Olds Title EXect lYe Direc+ah Draft PAC Stage Equipment (Indianapolis Stage and Sales) December 2009(application 1) Total Contract Amounts for application 1 Completed and Stored to date $ 45,000.00 Retention held $ 4,500.00 To be paid $ 40,500.00 Paid by Village Financial $ 40,500.00 March 2010(application 2) Paid by Village Financial $ 70,740.00 August 2010 Paid by Village Financial $ 19,710.00 September 2010 Paid by Village Financial $ 63,900.00 October 2010 Paid by Village Financial $ 367,748.30 November 2010 Paid by Village Financial $ 57,500.00 December 2010 Paid by Village Financial $ 51,834.00 March 2011 Amount to be paid by Village Financial) $ 55,040.00 .sir. A k TM j: Document ., 7 -fC . Application and Certificate for Payment Construction. Manager-Adviser Edition (Z TO OWNER: PROJECT: APPLICATION NO: -. 8 Distribution to: Carmel Redevelopment Commission Parcel 7A PERIOD TO: OWNER ❑ March 28, 2011 COne CivicS Square Regional Performing Arts Center CONSTRUCTION MANAGER ❑ FROM CO�IOR46032 VIA CONSTRUCTION MANAGER: CONTRACT DATE: ARCHITECT CI 17, 2009 Indianapolis Stage Shiel-Sexton Sexton PROJECT NOS: 26951 6010 / CONTRACTOR ❑ 905 Massachusetts Ave. VIA ARCHITECT: FIELD ❑ Indianapolis, IN 46202 CSO Architects CONTRACT FOR: Rid Parka It fl1f-Prnriurtinn I ihting ❑ CONTRACTOR'S APPLICATION FOR PAYMENT The undersigned Contractor certifies that to the best of the Contractor's knowledge, information and Application is made for payment,as shown below,in connection with the Contract. belief the Work covered by this Application for Payme, has been completed in accordance with the Continuation Sheet,AIA Document G703,is attached. Contract Documents,that all amounts have been p . • he Contractor for Work for which previous 818 334.00 Certificates - ment were iss ed and pay •ceived from the Owner, and that current 1.ORIGINAL CONTRACT SUM $ payment sb - ein is no ig e. 2.Net change by Change Orders $ -50,300.00 CONTRAC t•-. (� 3.CONTRACT SUM TO DATE(Line 1 ±2) B "4....4 f Date: 1 ( ) $ 768.034.00 Y v� /li� „Sb.- . - 1 4.TOTAL COMPLETED&STORED TO DATE(Column G on G703) $ 765,374.00 State of: 5.RETAINAGE: County of: crcemoi a wan. 10%of Completed Work Subscribed and sworn to before' �� k (Column D+Eon G703) $ 38,401.70 me this �. -' .a of / • tl b. %of Stored Material Notary P "��/� - Y /� N. O1�=, (Column F on G703) $ My Commission e pires: t 0 /(„ 1 � `- -- .- s . -•.;-b- -- . . Total Retainage(Lines 5a+5b or Total in Column I of G703).. $ 38,401.70 CERTIFICATE FOR PAYMENT 6.TOTAL EARNED LESS RETAINAGE $ 726,972.30 In accordance with the Contract Documents, based on on-site observations and the data comprising this application,the Construction Manager and Architect certify to the Owner that to the best of their (Line 4 Less Line 5 Total) knowledge,information and belief the Work has progressed as indicated,the quality of the Work is in 7.LESS PREVIOUS CERTIFICATES FOR PAYMENT $ 671,932.30 accordance with the Contract Documents,and the Contractor is entitled to payment of the AMOUNT (Line 6 from prior Certificate) CERTIFIED. ZsZ 8.CURRENT PAYMENT DUE $ 55,040.00 AMOUNT CERTIFIED $ 55 0(4 01 9.BALANCE TO FINISH,INCLUDING RETAINAGE. (Attach explanation if amount certified differs -om the amount applied. Initial all figures on this Application and of •e Continuation Sh-rt the t are chi nged to conform with the an unt certified.) (Line 3 less Line 6) $ 41,061.70 CONS -UCTION M I p '✓ . By: ∎ •. // '.'.. �i –. %/i� '- — Date: 0 - � ADDITIONS DEDUCTIONS •'� f 7 ` CHANGE ORDER SUMMARY ARC , Total changes approved in previous months by Owner $ $ 50,300.00 By: t�.. Date: r ci t I t Total approved.this Month $ $ This Certificate is not negotiable. The AMOUNT CERTIFIED is payable only to the Contractor TOTALS $ 0.00 $ 50,300.00 named herein. Issuance, payment and acceptance of payment are without prejudice to any rights of the Owner or Contractor under this Contract. NET CHANGES by Change Order $ -50,30n OO CAUTION:You should sign an original AIA Contract Document,on which this text appears in RED.An original assures that changes will not be obscured. AIA Document G702/CMaTM-1992.Copyright ©1992 by The American Institute of Architects.All rights reserved.WARNING:This AIA® Document is protected by U.S.Copyright Law and International Treaties. Unauthorized reproduction or distribution of this AIA® Document,or any portion of it,may result in severe civil and criminal penalties,and will be prosecuted to the maximum extent possible under the law. Purchasers are permitted to reproduce ten(10)copies of this document when completed.To report copyright violations of AIA Contract Documents,e-mail The American Institute of Architects'legal counsel,copyright @aia.org. *ALLVDocument 703TM ® 1992 Continuation Sheet AIA Document G702,APPLICATION AND CERTIFICATION FOR PAYMENT, APPLICATION NO: 8 containing Contractor's signed certification is attached. APPLICATION DATE: 3/2$/2011 In tabulations below,amounts are stated to the nearest dollar. Use Column I on Contracts where variable retainage for line items may apply. PERIOD TO: 3/28/2011 ARCHITECT'S PROJECT NO: 2695/6010 A B C D E F G H I WORK COMPLETED MATERIALS TOTAL PRESENTLY COMPLETED BALANCE RETAINAGE SCHEDULED FROM PREVIOUS % TO ITEM DESCRIPTION OF WORK STORED AND STORED (IF VARIABLE VALUE APPLICATION THIS PERIOD (G_C) FINISH NO. (NOT W TO DATE RATE) (D+E) D OR E) (D+E+F) (C-G) 1 Mobilization&Submittals 45,000.00 45,000.00 45,000.00 100% - 2 Shipment of back boxes&racks 84,500.00 84,500.00 84,500.00 100% - 3 Shipment of Electronic Components 217,500.00 217,500.00 217,500.00 100% - 4 Shipment of Fixtures 250,000.00 250,000.00 250,000.00 100% 5 Installation of light fixtures&equipment 15,000.00 15,000.00 15,000.00 100% 6 System energization 95,000.00 95,000.00 95,000.00 100% 7 Training&Completion 6,334.00 3,334.00 3,000.00 6,334.00 100% 8 General Allowance 100,000.00 100,000.00 100,000.00 100% 9 CAD Allowance 5,000.00 2,340.00 2,340.00 47% 2,660.00 10 Change Order#1 (50,300.00) (50,300.00) (50,300.00) 100% 768,034.00 710,334.00 55,040.00 - 765,374.00 2,660.00 38,401.70 CAUTION:You should sign an original AIA Contract Document,on which this text appears in RED.An original assures that changes will not be obscured. AIA Document G703T"^—1992.Copyright©1963,1965,1966,1967,1970,1978, 1983 and 1992 by The American Institute of Architects.All rights reserved.WARNING:This AIA®Document is protected by U.S.Copyright Law and International Treaties.Unauthorized reproduction or distribution of this AlA®Document,or any portion of it,may result in severe civil and criminal penalties,and will be prosecuted to the maximum extent possible under the law.Purchasers are permitted to reproduce ten(10)copies of this document when completed.To report copyright violations of AIA Contract Documents,e-mail The American Institute of Architects'legal counsel,copyright @aia.org. CONDITIONAL WAIVER AND RELEASE UPON PROGRESS PAYMENT From: Indianapolis Stage Sales and Rental, Inc. Reference Payment Application # 8 Dated: March 28, 2011 Upon receipt by the undersigned of a check in the amount of$ 55,040.00 payable to Indianapolis Stage Sales and Rental, Inc. and when the check has been properly endorsed and has been paid by the bank on which it is drawn, this document shall become effective to release any mechanic's lien, stop notice, or bond right the undersigned has on the of Carmel Regional Performing Arts Center located at 773 3rd Avenue SW, Carmel, IN 46032 to the following extent. This release covers a progress payment for labor, services, equipment, or material furnished to the above referenced project through [enter date of payment application] only and does not cover any retentions retained before or after the release date; extras furnished before the release date for which payment has not been received; extras or items furnished after the release date. Rights based on work performed or items furnished under a written change order which has been fully executed by the parties prior to the release date are covered by this release unless specifically reserved by the claimant in this release. This release of any mechanic's lien, stop notice, or bond right shall not otherwise affect the contract rights including rights between parties to the contract based upon a rescission, abandonment, or breach of the contract, or the right of the undersigned to recover compensation for the furnished labor, services, equipment, or material not compensated by the progress payment. Before any recipient of this document relies on it, said party should verify evidence of payment to the undersigned. Dated: March 28, 2011 Indianapo • ..e Sale,n• Rental, I BY: IL.i.. 'i & f ames R. Herm •orfer Title: President