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14 <br />Progressive Design Build Contract <br /> <br />8.2.2 Owner shall make payment within 30 days after Owner’s receipt of each properly submitted <br />and accurate Application for Payment, but in each case less the total of payments previously made, <br />less retainage, and less amounts properly withheld under Section 6.3 of the General Conditions. <br /> <br />8.3 Retainage on Phase 2 Work Progress Payments. <br /> <br />8.3.1 Pursuant to Chapter RCW 60.28, Owner will retain five percent of each approved <br />Application for Payment to be retained as a trust fund for the protection and payment of the claims <br />of any person arising under the contract and the state with respect to taxes imposed pursuant to <br />Titles 50, 51, and 82 RCW which may be due from Design-Builder. The moneys reserved may, at <br />the option of Design-Builder, be retained in accordance with the provisions of Chapter 60.28 RCW. <br /> <br />8.3.2 If the Design-Builder elects to submit a retainage bond on behalf of itself or one or more of <br />its Subcontractors in accordance with Chapter 60.28 RCW, each such bond must be issued on a <br />form provided by Owner by a surety licensed to do business in the state where the Work is located <br />with an A.M. Best rating of A-/IX or better on behalf of Design-Builder or A-/V on behalf of a <br />Subcontractor. Design-Builder is responsible for submitting retainage bond(s) that meet these <br />requirements to Owner on behalf of itself and/or any Subcontractor. Owner will not accept <br />retainage bonds submitted directly to it by a Subcontractor. <br /> <br />8.3.3 Sixty (60) days after Final Acceptance of the entire Work, which is an action by the City <br />Council, Owner shall release to Design-Builder all retained amounts in accordance with chapter <br />RCW 39.12 and chapter RCW 60.28, provided that Design-Builder has submitted: (1) pursuant to <br />RCW 39.12.040, an "Affidavit of Wages Paid" from Design-Builder and from each Subcontractor of <br />any tier certified by the Industrial Statistician of the Department of Labor and Industries, with the <br />fees paid by Design-Builder or Subcontractor of any tier, (2) pursuant to RCW 60.28.021, <br />certificates from the Department of Revenue, the Employment Security Department, and the <br />Department of Labor and Industries. If there are either unpaid taxes or unsatisfied claims of lien <br />against the retained percentage, disbursement of retainage funds will be made in accordance with <br />state law. <br /> <br />8.4 Payment to Subcontractors. Design-Builder shall ensure payment to any Subcontractor (or Sub- <br />Subcontractor), at any tier every thirty (30) days for any Work satisfactorily completed and not disputed, <br />regardless of being paid by Owner. The Design-Builder and Owner jointly commit to reviewing and agreeing <br />eligible costs, back up and completed work as they become due and available for review. <br /> <br />8.5 Final Payment. Design-Builder shall submit its Final Application for Payment to Owner in <br />accordance with Section 6.6 of the General Conditions. Owner shall make payment on Design-Builder’s <br />properly submitted and accurate Final Application for Payment within 30 days after Owner’s receipt of the <br />Final Application for Payment, provided that (a) Design-Builder has satisfied the requirements for final <br />payment set forth in Section 6.6.2 of the General Conditions and (b) Owner shall have the right to withhold <br />all amounts to which Owner is entitled to withhold pursuant to Section 6.3 of the General Conditions. <br /> <br />8.6 Interest. Payments due and unpaid by Owner to Design-Builder, whether progress payments or <br />final payments, shall bear interest as specified by RCW 39.76. <br /> <br />8.7 Record Keeping and Finance Controls. Design-Builder acknowledges that this Contract is to be <br />administered on an Open-Book arrangement relative to the Cost of the Work. Design-Builder shall keep <br />full and detailed accounts and exercise such controls as may be necessary for proper financial <br />management, using accounting and control systems in accordance with generally accepted accounting <br />principles and as may be provided in the Contract Documents. <br /> <br />During the performance of the Work and for a period of six (6) years after Final Payment, Owner and <br />Owner’s accountants shall be afforded access to, and the right to audit from time to time, upon reasonable <br />notice, Design-Builder’s records, books, correspondence, receipts, subcontracts, purchase orders,