Neptune General Contractors 1/25/2022

I I 3. The firm appears to be holding the risk of performance and quality of the Work. 4. The firm appears to be responsible for liability arising from the Work. Markups on Work Performed by Subcontractor(s): On amounts paid for Work performed by each Subcontractor on each Force Account and calculated Up to$25,0000 12% I through 9.6.1-4 On amounts greater than $25,000 up to$100,000 10% I On amounts greater than $100,000 7% The amounts and markup rates shall be calculated separately for each Subcontractor on each Force Account item established. I The payments provided above shall be full payment for all Work done on a Force Account basis. The calculated payment shall cover all expenses of every nature,kind and description,including those listed above and any others incurred on the Work being paid through Force Account. Nothing in this provision I shall preclude the Contractor from seeking an extension of time or time-related damages to unchanged Work arising as a result of Force Account Work. The amount and costs of any work to be paid by Force Account shall be computed by the Owner's Representative and the result shall be final as provided in 3.2 OWNER'S REPRESENTATIVE. I/ An item that has been bid at a unit price or lump sum in the Bid will not be paid as Force Account unless a change, as defined in 6.CHANGES,has occurred and the provisions require a payment adjustment. I Items which are included in the Bid as Force Account or which are added by change order as Force Account may,by agreement of the parties at any time,be converted to agreed unit prices or lump sums applicable to the remaining Work. I 9.7. RETAINAGE Pursuant to RCW Chap. 60.28, a sum of five percent(5%)of the monies earned by the Contractor will be retained from progress estimates. In addition to protecting the interests of those identified in RCW Chap. I 60.28, such retainage shall be used as a trust fund for the protection of the Owner. At the option of the Contractor;monies retained under the provisions of RCW 60.28 shall be: 1. Retained in a fund by the Owner,or 2. Deposited by the Owner in an escrow(interest-bearing)account in a bank, mutual saving bank,or savings and loan association(interest on monies so I retained shall be paid to the Contractor). Deposits are to be in the name of the Owner and may not be withdrawn without the Owner's written authorization. The Owner will issue a check representing the sum of the monies reserved, payable to the bank or trust company. Such check shall be converted into bonds I and securities chosen by the Contractor as the interest accrues. Bank and Contractor will execute an escrow agreement in the form provided by Owner. 3. Released after submission of fully executed retainage bond in the form Iprovided by Owner. I The Contractor shall designate the option desired at the time the Contract is executed. If the Contractor chooses option 2(deposit in escrow account),Contractor agrees to assume full responsibility to pay all costs that may accrue from escrow services,brokerage charges or both,and further agrees to assume all I - General Conditions—007200-41 I