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3. Round figures to nearest dollar amount. <br /> 4. Coordinate items of the Schedule of Values so that there is a corresponding item <br /> in the Progress Schedule. <br /> 5. Change orders and Team Change Memoranda are to be added as separate items <br /> to the Schedule of Values as they are approved by the Owner. <br /> 6. Revise as requested by Owner. <br /> C. Subcontractors List: Submit a list of all contracted Subcontractors and major material <br /> suppliers consistent with Article 5.2.1 of the General Conditions. <br /> 1. Update list monthly with additional information from current awards. <br /> D. Retainage: Submit instructions for the disposition of retainage funds. <br /> 1. In accordance with Article 9.3.4 of the General Conditions and Chapter 60.28 RCW, <br /> the Owner shall reserve a Contract retainage in an amount not-to-exceed 5 percent <br /> of the moneys earned by the Contractor as trust fund for the protection and payment <br /> of: <br /> a. The claims of any person arising under the Contract Documents; <br /> b. The State of Washington with respect to taxes imposed pursuant to Titles 50, <br /> 51, and 82 RCW which may be due from the Contractor, and; <br /> c. Owner for claims it may have against the Contractor. <br /> 2. Contractor's written instructions should be addressed to the City of Everett Owner's <br /> Designated Representative. <br /> 3. At the option of the Contractor, the moneys reserved by the Owner shall be: <br /> a. Retained in a fund by the Owner; or <br /> b. Bonded by the Contractor on the form provided by Owner. (if approved by <br /> Owner) for all of the Contract retainage in a form acceptable to the Owner; or <br /> c. Placed in escrow with a bank or trust company by the Owner. <br /> 1) Escrow Agent: If the retained funds are to be placed in escrow, Contractor <br /> will select the escrow agent, subject to approval by the Owner. The selected " <br /> agent must be a bank or trust company in the State of Washington. <br /> 2) Escrow Agreement: Pursuant to electing the escrow option, an escrow <br /> agreement shall be executed by Contractor, Owner, and bank. A completed <br /> and signed escrow agreement on the form provided by the Owner must be <br /> on file with the Owner for payment before the Contractor's first Application <br /> for Payment is processed. <br /> 1.3 HIGH-TECH SALES AND USE TAX DEFERRAL <br /> City of Everett Municipal Building February 3, 2023 <br /> Everett Municipal Building Public Works Tenant 01 29 76 Spec Sect 01 29 76 <br /> Improvements Progress Payments-GCCM <br /> RFFP for GC/CM Services <br />