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Reservoir 3 Replacement Phase 1 CONTRACT - 2 <br />Work Order No. UP3739 00 52 13 <br />4.Contract Sum. The Contract Sum of this Contract is: <br />$25,457,530.00 <br />+WA Sales Tax (as applicable)$ 2,520,292.50 <br />Contract Sum $27,977,792.50 <br />This is based on the proposal/bid submitted by Contractor dated May 21, 2024. A copy of this <br />proposal/bid is attached hereto. <br />The basis for final payment will be the actual amount of work performed according to the <br />Contract Documents and payments, whether partial or final, shall be made as specified therein. <br />If, and to the extent, payment (in whole or in part) is based upon unit prices multiplied by <br />quantities of work actually performed, the total amount paid to the Contractor may be less than <br />Contract Sum stated herein and the Contractor agrees to execute one or more change orders in <br />such event. In no event shall the total amount paid Contractor exceed the Contract Sum stated <br />herein, unless the Contract amount has first been increased by one or more Change Orders <br />signed by the City. The City may, in its sole discretion, withhold amounts from payments <br />otherwise due as offsets or back charges for expenses, damages, liquidated damages or costs <br />for which the Contractor is liable for not to exceed 10% of the total amount of the contract. If the <br />City chooses not to offset or deduct any such expenses, damages, liquidated damages or costs <br />from one or more payments or return of retainage, the City does not waive its claim for such <br />damages and hereby expressly reserves its right to assert a claim against the Contractor for <br />such damages. <br />5.Withholding. Five percent (5%) of amounts due Contractor shall be retained and withheld <br />to comply with RCW Chap. 60.28. Retained amounts shall only be released: (A) as required by <br />law or (B) sixty (60) days after completion of all contract work if there are no claims against the <br />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 <br />have knowledge and regardless of the informalities of notice of such claim arising out of the <br />performance of this Contract. The City may withhold the amount until either the Contractor <br />secures a written release from the claimant, obtains a court decision that such claim is without <br />merit, or satisfies any judgment in favor of the claimant on such claim. The City shall not be <br />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 <br />state and federal laws relating to the employment of labor and wage rates to be paid. <br />7.RCW 35.33.650. Contractor shall actively and in good faith solicit the employment of <br />minority group members and bids for the supply of goods or subcontracting of services from <br />qualified minority businesses. Contractor shall consider granting contracts to possible minority <br />suppliers and subcontractors on the basis of substantially equal proposals in the light most <br />favorable to the minority businesses. Contractor shall furnish evidence of its compliance with <br />these requirements. As used in this section, the term “minority business” means a business at <br />least fifty-one percent (51%) of which is owned by minority group members. Minority group <br />members include, but are not limited to, African-Americans, Women, Native Americans, <br />Asian/Pacific Islander-Americans, and Hispanic-Americans.