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Beverly Lake Water Quality Retrofit Division C - CONTRACT <br />occurring after the physical completion date, liquidated damages shall be assessed at the rate computed <br />in Section 1-08.9 of the Standard Specifications, as may be amended by the Special Provisions, until the <br />work is physically complete. <br />4. Contract Sum. The Contract Sum of this Contract is: <br /> $1,175,015 <br />+ WA Sales Tax (as applicable) N/A <br />Contract Sum $1,175,015 <br />This is based on the proposal/bid submitted by Contractor dated 9-12-23 (attached). The basis for final <br />payment will be the actual amount of work performed according to the Contract Documents and <br />payments, whether partial or final, shall be made as specified therein. <br />5. Withholding. Five percent (5%) of amounts due Contractor shall be retained and withheld to comply <br />with RCW Chap. 60.28. Retained amounts shall only be released: (A) as required by law or (B) sixty (60) <br />days after completion of all contract work if there are no claims against the retained funds. In addition <br />to the amounts required by RCW 60.28 to be withheld from the progress or retained percentage <br />payments to the Contractor, the City may, in its sole discretion, withhold any amounts sufficient to pay <br />any claim against the Contractor of which the City may have knowledge and regardless of the <br />informalities of notice of such claim arising out of the performance of this Contract. The City may <br />withhold the amount until either the Contractor secures a written release from the claimant, obtains a <br />court decision that such claim is without merit, or satisfies any judgment in favor of the claimant on such <br />claim. The City shall not be liable for interest during the period the funds are so held. <br />6. Compliance with Employment and Wage Laws. Contractor agrees to comply with all state and <br />federal laws relating to the employment of labor and wage rates to be paid. <br />7. Vacant <br />8. Indemnification. <br />A. Contractor will defend, indemnify and hold harmless the City from any and all Claims arising out of or <br />relating to any acts, errors, omissions, or conduct by Contractor in connection with its performance of <br />this Contract, including without limitation (and without limiting the generality of the foregoing) all Claims <br />resulting from Contractor’s performance of, or failure to perform, its express and implied obligations <br />under the Contract. The Contractor will defend and indemnify and hold harmless the City whether a <br />Claim is asserted directly against the City, or whether a Claim is asserted indirectly against the City, e.g., <br />a Claim is asserted against someone else who then seeks contribution or indemnity from the City. The <br />amount of insurance obtained by, obtainable by, or required of the Contractor does not in any way limit <br />the Contractor’s duty to defend and indemnify the City. The City retains the right to approve Claims <br />investigation and counsel assigned to said Claim and all investigation and legal work regarding said Claim <br />shall be performed under a fiduciary relationship to the City. This Section 8 is in addition to any other <br />defense or indemnity or hold harmless obligation in the Contract Documents. <br />B. The Contractor’s obligations under this Section 8 shall not apply to Claims caused by the sole <br />negligence of the City. If (1) RCW 4.24.115 applies to a particular Claim, and (2) such Claim is caused by <br />or results from the concurrent negligence of (a) the Contractor and (b) the City, then the Contractor’s <br />liability under this Section 8 shall be only to the extent of the Contractor’s negligence.