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<br /> Page 19 of 42 FINAL 2/21/25 Agreement No. 2025-02 <br />G-445 Equipment Watchman <br />Location of watchman facility for security reasons shall be approved by the Contract <br />Administrator prior to move in. <br />G-450 Encumbrances <br />This Contract and Purchaser’s activities are: <br />a. Subject to easement for power transmission lines. <br />b. Subject to easement for water transmission lines. <br />c. Subject to easements for road use by others. <br />d. Subject to easement granted to the City from Washington State Department of Natural <br />Resources (Snohomish County Auditor File #9201160106). <br /> <br />SECTION P: PAYMENTS AND SECURITY <br />P-11 Initial Deposit <br />Purchaser shall pay the City $132,365.00 (10% of following sum: 1770 (MBF) x Douglas <br />Fir Bid Rate ($/MBF) + $158,700 + $129,500) as an initial deposit. The initial deposit <br />must be in the form of a certified check or cashier’s check. Unless otherwise determined by <br />the City, the City will deposit the Purchaser’s bid deposit into a City account as the initial <br />deposit. This initial deposit shall be maintained throughout the Contract and may be used <br />as a final payment. If the operating authority on this Contract expires or this Contract <br />expires without Purchaser's payment of the full amounts as specified in the 'Payment for <br />Forest Products' clause, the initial deposit will be immediately forfeited to the City and will <br />be offset against Purchaser's remaining balance due. Any excess initial deposit funds not <br />needed to ensure full payment of all amounts due under this Contract or not needed to <br />complete any remaining obligations of the Purchaser existing after Contract expiration, will <br />be refunded to the Purchaser. This initial deposit is in addition to the performance security <br />required under P-90. <br />P-21 Payment for Forest Products <br />Purchaser agrees to pay the following rates per MBF Scribner net log scale for forest <br />products conveyed and cut or removed from the sale area. <br />Species Rate ($/MBF) <br />Douglas-fir $585 <br />Western Hemlock $150 <br />Western Redcedar $700