The contractor shall pay:
(a) For all transportation and utility services not later than the twentieth day of the calendar month next following the rendition of such services;
(b) For all materials, tools and other expendable equipment to the extent of ninety percent of the cost thereof, not later than the twentieth day of the calendar month next following that in which such materials, tools and equipment are delivered at the site of the project, and the balance of the cost thereof not later than the thirtieth day following the completion of that part of the work in or on which such materials, tools and equipment are incorporated or used; and
(c) To each of his subcontractors, not later than the fifth day following each payment to the contractor, the respective amounts allowed the contractor on account of the work performed by his subcontractor, to the extent of each subcontractor's interest therein.
The requirements of subsections (b) and/or (c) hereof may be waived or modified by the City for good cause shown by the contractor and on terms and conditions approved by the City Engineer or Director of Public Service.
In addition to any and all other rights by the contract granted to or reserved by the City, if the contractor at any time has failed, neglected or refused without just cause to pay for materials and labor furnished or services rendered to the contractor included in any previous estimate paid by the City, the City may require the contractor to pay or provide for the payment thereof prior to payment of any estimate submitted for payment in accordance with the provisions of Section 177.03.
(Ord. 33-1960. Passed 3-7-60.)