Written Claims on Final Settlement

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Written claims on final settlement.

At the time of final settlement, which shall be only when all obligations and agreements, except as provided in this article, are fully carried out by subcontractor, subcontractor agrees to present in writing a full, detailed and itemized statement of his [her] claims and accounts, whether claimed under this contract or otherwise, together with owner’s acceptance of his [her] work, including also all just credits to contractor, and give in writing all information at his [her] command that may be called for concerning accounts and claims, and give contractor a reasonable time to consider the information. In case of disagreement, each party agrees to make an honest and diligent effort to arrive at a correct and true settlement of each separate item, claim and account so presented, and all facts material to them, and to reduce in writing as considered all points, matters and facts agreed on, and also a separate writing of all matters and facts, if any, left in dispute, which papers both parties agree to sign, and the papers shall be the basis of all future effort or action towards the settlement of subcontractor’s claims, and matters and facts not presented in an itemized statement and signed writings referred to above shall be considered immaterial and waived by subcontractor, and not brought to issue at a later date by subcontractor.