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3. Contract Price. The amount of this Contract is Twenty-Eight Thousand Seven Hundred <br /> Sixty-Five and Forty Cents ($28,765.40) and is based on the quote submitted by the Contractor dated <br /> September 23, 2021. The basis for final payment will be the actual amount of work performed <br /> according to the Contract Documents and payments,whether partial or final,shall be made as <br /> specified therein. If,and to the extent, payment(in whole or in part) is based upon unit prices <br /> multiplied by quantities of work actually performed,the total amount paid to the Contractor may be <br /> less than Contract Price stated herein and the Contractor agrees to execute one or more change orders <br /> in such event. In no event shall the total amount paid Contractor exceed the Contract Price stated <br /> herein, unless the Contract amount has first been increased by one or more Change Orders signed by <br /> the City. The City may, in its sole discretion,withhold amounts from payments otherwise due as <br /> offsets or back charges for expenses,damages, liquidated damages or costs for which the Contractor is <br /> liable for not to exceed 10%of the total amount of the contract. If the City chooses not to offset or <br /> deduct any such expenses,damages,liquidated damages or costs from one or more payments or <br /> return of retainage,the City does not waive its claim for such damages and hereby expressly reserves <br /> its right to assert a claim against the Contractor for such damages. <br /> 4. Withholding. Five percent(5%) of amounts due Contractor shall be retained and <br /> withheld to ensure to comply with RCW Chap. 60.28. Retained amounts shall only be released: (A) as <br /> required by law or(B) sixty(60) days after completion of all contract work if there are no claims against <br /> the retained funds. In addition to the amounts required by RCW 60.28 to be withheld from the <br /> progress or retained percentage payments to the Contractor,the City may, in its sole discretion, <br /> withhold any amounts sufficient to pay any claim against the Contractor of which the City may have <br /> knowledge and regardless of the informalities of notice of such claim arising out of the performance of <br /> this contract. The City may withhold the amount until either the Contractor secures a written release <br /> from the claimant, obtains a court decision that such claim is without merit, or satisfies any judgment <br /> in favor of the claimant on such claim. The City shall not be liable for interest during the period the <br /> funds are so held. <br /> 5. Compliance with Employment and Wage Laws. Contractor agrees to comply with all <br /> state and federal laws relating to the employment of labor and wage rates to be paid. <br /> 6. Disadvantanged Business Enterprises. Contractor agrees that the contractor shall <br /> actively solicit the employment of minority group members. Contractor further agrees that the <br /> contractor shall actively solicit bids for the subcontracting of goods or services from qualified minority <br /> businesses.Contractor shall furnish evidence of the Contractor's compliance with these requirements <br /> of minority employment and solicitation. Contractor further agrees to consider the grant of <br /> subcontracts to said minority bidders on the basis of substantially equal proposals in the light most <br /> favorable to said minority businesses.The Contractor shall be required to submit evidence of <br /> compliance with this section as part of the bid.As used in this section,the term "minority business" <br /> means a business at least fifty-one percent(51%) of which is owned by minority group members. <br /> Minority group members include, but are not limited to,African-Americans,Women, Native <br /> Americans,Asian/Pacific Islander-Americans,and Hispanic-Americans. <br />