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SUPPLEMENTARY CONDITIONS Section 00800 15-1207 This thirty day period shall be reduced by the number of days, if any, by which the District exceeds the seven (7) day return period specified in paragraph (c) below. 2 Upon receipt of a payment request, the District shall review the payment request as soon as practical after receipt for the purpose of determining that the payment request is a proper payment request, and 3 For any payment request the District determines not to be a proper payment request suitable for payment, the District shall return the request to the Contractor as soon as practicable, but not later than seven days, after the District's receipt. A request returned pursuant to this paragraph shall be accompanied by a document setting forth in writing the reasons why the payment request is not proper. §9.3.7 The final payment, if unencumbered, or any part thereof unencumbered, shall be made thirty-five (35) days after the date of filing of the Notice of Completion. Should any corrective measures remain incomplete or unaccepted at the time final payment is due, Contractor shall provide Owner with Money Order(s) or Cashier's Checks in exchange for retention. The amount of Money Order(s) or Cashier's Checks shall for an amount one and one half (1'/2) times the Architect's estimated value of the incomplete or unaccepted work. §9.3.8 Pursuant to Section 22300 of the Public Contract Code of the State of California, the contract will contain provisions permitting the successful bidder to substitute securities for any moneys withheld by the District to ensure performance under the contract. At the request and expense of the Contractor, securities equivalent to the amount withheld shall be deposited with the public agency, or with a state or federally chartered bank as the escrow agent, who shall then pay such moneys to the Contractor. Upon satisfactory completion of the contract, the securities shall be returned to the Contractor. Alternatively, the Contractor may request and the Owner shall make payment of retentions earned directly to the escrow agent at the expense of the Contractor. At the expense of the Contractor, the Contractor may direct the investment of the payments into securities and the Contractor shall receive the interest earned on the investments upon the same terms provided for this section for securities deposited by the Contractor. Upon satisfactory completion of the Contract, the Contractor shall receive from the escrow agent all securities, interest and payments received by the escrow agent from the Owner, pursuant to the terms of Public Contract Code Section 22300. The Contractor shall pay to each subcontractor, not less than twenty (20) days of receipt of the payment, the respective amount of interest earned, net of costs attributed to retention withheld from each subcontractor, on the amount of retention withheld to insure the performance of the Contractor. Securities eligible for investment under this section shall include those listed in Section 16430, bank or savings and loan certificates of deposit, interest bearing demand deposit accounts standby letter of credit, or any other security mutually agreed to by the Contractor and Owner. 24