Application 14

Brickell Bay Tower · C-BRK-2201-01 · period ending May 27, 2026 · Submitted

Completed to date

$137,714,445

Stored materials

Retainage withheld

$8,538,296

Retainage required

$13,771,445

Due this application

$851,220

Continuation sheet

Scheduled value is shown adjusted for approved change orders only. Rows shaded red carry an exception; the reason is listed beneath the table.

#	Cost code	Description	Base value	Approved COs	Adjusted value	Previous	This period	Completed to date	Stored	%	Retainage
1	01-100	General conditions	$10,395,000	—	$10,395,000	$10,395,000	$0	$10,395,000	—	100%	$644,490
2	02-200	Sitework and excavation	$8,167,500	—	$8,167,500	$8,167,500	$0	$8,167,500	—	100%	$506,385
3	03-300	Concrete, foundations	$13,365,000	—	$13,365,000	$13,365,000	$0	$13,365,000	—	100%	$828,630
4	03-330	Concrete, superstructure	$22,275,000	$1,704,586	$23,979,586	$17,581,658	$216,068	$17,797,725	—	74%	$1,103,459
5	05-100	Structural steel	$14,107,500	—	$14,107,500	$14,107,500	$0	$14,107,500	—	100%	$874,665
6	07-500	Roofing and waterproofing	$6,682,500	—	$6,682,500	$6,477,347	$64,820	$6,542,168	—	98%	$405,614
7	08-400	Curtain wall and glazing	$17,820,000	—	$17,820,000	$16,203,726	$172,854	$16,376,580	—	92%	$1,015,348
8	09-250	Drywall and framing	$10,395,000	—	$10,395,000	$8,828,474	$100,832	$8,929,305	—	86%	$553,617
9	09-650	Flooring and finishes	$8,167,500	—	$8,167,500	$6,446,608	$79,225	$6,525,833	—	80%	$404,602
10	15-400	Plumbing	$8,910,000	$830,266	$9,740,266	$8,910,000	$0	$8,910,000	—	91%	$552,420
11	15-700	HVAC	$14,107,500	$662,148	$14,769,648	$13,674,400	$136,843	$13,811,243	—	94%	$856,297
12	16-100	Electrical	$11,137,500	—	$11,137,500	$10,127,329	$108,034	$10,235,363	—	92%	$634,592
13	21-100	Fire protection	$2,970,000	—	$2,970,000	$2,522,421	$28,809	$2,551,230	—	86%	$158,176
Totals			$148,500,000	$3,197,001	$151,697,001	$136,806,962	$907,484	$137,714,445	$0	91%	$8,538,296

Exceptions on this application

CriticalBILLING-AHEAD-OF-PROGRESSBilling materially ahead of observed progress$21,298,259

Application 14 bills 90.8 percent of the adjusted contract against an observed 76.7 percent complete on Aug 27 2026

Front loading moves the contractor's risk onto the owner. If the contractor leaves the job, the remaining money will not buy the remaining work, and that gap is only visible before it is paid.

Remedy Reduce the certification to observed progress and require a revised schedule of values for the remaining lines.

claimed 90.8%supported 76.7%

HighRETAINAGE-SHORTRetainage withheld below the contract percentage$5,233,149

Retainage withheld on application 14 is $8,538,296 against $13,771,445 required at 10.0 percent

Retainage is the owner's only remaining leverage at closeout. Under-withholding gives it away quietly, one draw at a time, and it is almost never noticed until the punch list stalls.

Remedy Correct the withholding on this application and reconcile every prior application in the same certification.

claimed $8,538,296supported $13,771,445

Documents submitted with the draw

Kind	File	Amount	Received
certified_payroll	payroll_app14.pdf p.1 of 4	—	May 30, 2026
conditional_waiver	waiver_cond_app14.pdf p.1 of 1	—	Jun 2, 2026