Davis Construction Inc 2/19/2020

The amount of this contract is Twenty-Two Thousand Seven Hundred Ninety-Four Dollars and Forty- Eight Cents ($22,794.48) and is based on the quote submitted by the Contractor dated January 9, 2020. The basis for final payment will be the actual amount of work performed according to the Contract Documents and payments, whether partial or final, shall be made as specified therein. If, and to the extent, payment (in whole or in part) is based upon unit prices multiplied by quantities of work actually performed, the total amount paid to the Contractor may be less than Contract amount stated herein and the Contractor agrees to execute one or more change orders in such event. In no event shall the total amount paid Contractor exceed the Contract amount stated herein, unless the Contract amount has first been increased by one or more Change Orders signed by the City. The City may, in its sole discretion, withhold amounts from payments otherwise due as offsets or backcharges for expenses, damages, liquidated damages or costs for which the Contractor is liable. If the City chooses not to offset or deduct any such expenses, damages, liquidated damages or costs from one or more payments or return of retainage, the City does not waive its claim for such damages and hereby expressly reserves its right to assert a claim against the Contractor for such damages. Five percent (5%) of amounts due Contractor shall be retained and withheld to ensure the timely and faithful completion of the work, to comply with RCW Chapter 60.28, and to provide a source of funds for liquidated or other damages. Except for a continuing retention of five percent (5%) of monies earned for bus shelter removal anmd installation, retained amounts shall only be released: (A) as required by law or (B) sixty (60) days after completion of all contract work if: (1) there are no claims against the retained funds, (2) the Contractor satisfied test requirements, and (3) the Contractor faithfully, timely and completely performed the Contract. In addition to the amounts required by RCW 60.28 to be withheld from the progress or retained percentage payments to the Contractor, the City may, in its sole discretion, withhold any amounts sufficient to pay any claim against the Contractor of which the City may have knowledge and regardless of the informalities of notice of such claim arising out of the performance of this contract. The City may withhold the amount until either the Contractor secures a written release from the claimant, obtains a court decision that such claim is without merit, or satisfies any judgment in favor of the claimant on such claim. The City shall not be liable for interest during the period the funds are so held. Contractor agrees to comply with all state and federal laws relating to the employment of labor and wage rates to be paid. Contractor shall actively and in good faith solicit the employment of minority group members and quotes for the supply of goods or subcontracting of services from qualified minority businesses. Contractor shall consider granting contracts to possible minority suppliers and subcontractors on the basis of substantially equal proposals in the light most favorable to the minority businesses. Contractor shall furnish evidence of its compliance with these requirements. As used in this section, the term "minority business" means a business at least fifty-one percent (51%) of which is owned by minority group members. Minority group members include, but are not limited to, African-Americans, Women, Native Americans, Asian/Pacific Islander-Americans, and Hispanic Americans.