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1 <br /> CITY OF EVERETT PUBLIC WORKS DOCUMENT 00 72 13 <br /> SPECIAL PROVISIONS GENERAL CONDITIONS <br /> 1 F. An item that has been bid at a unit price or lump sum in the Bid will not be paid as Force Account <br /> unless a change, as defined in ARTICLE 6. CHANGES, has occurred and the provisions <br /> require a payment adjustment. Items which are included in the Bid as Force Account or which <br /> are added by change order as Force Account may, by agreement of the parties at any time, be <br /> converted to agreed unit prices or lump sums applicable to the remaining Work. <br /> 9.14 Retainage <br /> A. Pursuant to RCW Chap. 60.28,a sum of five percent(5%)of the monies earned by the Contractor <br /> will be retained from progress estimates. In addition to protecting the interests of those identified <br /> 1 in RCW Chap.60.28, such retainage shall be used as a trust fund for the protection of the Owner. <br /> B. At the option of the Contractor;monies retained under the provisions of RCW 60.28 shall be: <br /> 1 1. Retained in a fund by the Owner,or <br /> 2. Deposited by the Owner in an escrow (interest-bearing) account in a bank, mutual saving <br /> bank, or savings and loan association (interest on monies so retained shall be paid to the <br /> Contractor).Deposits are to be in the name of the Owner and may not be withdrawn without <br /> the Owner's written authorization. The Owner will issue a check representing the sum of the <br /> monies reserved, payable to the bank or trust company. Such check shall be converted into <br /> ' bonds and securities chosen by the Contractor as the interest accrues. Bank and Contractor <br /> will execute an escrow agreement in the form provided by Owner. <br /> 3. Released after submission of fully executed retainage bond in the form provided by Owner. <br /> C. The Contractor shall designate the option desired at the time the Contract is executed. If the <br /> Contractor chooses option 2 (deposit in escrow account), Contractor agrees to assume full <br /> 1 responsibility to pay all costs that may accrue from escrow services, brokerage charges or both, <br /> and further agrees to assume all risks in connection with the investment of the retained <br /> percentages in securities. <br /> 1 D. Retainage will be released when all of the following conditions are satisfied: <br /> 1. Sixty(60)days have elapsed following the completion of all Work specified in the Contract; <br /> I <br /> and <br /> 2. The Contractor fulfilled all of all obligations of the Contractor under the Contract, including, <br /> but not limited to, the Contractor's furnishing all documentation required by Contract and <br /> 1 law;and <br /> 3. A release has been obtained from the Washington State Department of Revenue; and <br /> 4. Affidavits of Wages Paid for the Contractor and all Subcontractors are on file with the <br /> Owner(RCW 39.12.040); and <br /> 5. A release has been obtained from the Washington State Department of Labor & Industries <br /> 1 and the Washington State Employment Security Department; and <br /> 6. All claims, as provided by law, filed against the retainage have been resolved. In the event <br /> claims are filed and provided the conditions one through five are met, the Contractor will be <br /> 1 paid the retained percentage less an amount sufficient to pay any such claims together with a <br /> sum determined by the Owner sufficient to pay the cost of claims and attorney's fees. <br /> 1 PSO6 REROUTE 007213 -51 <br /> WO NO.—UP3583 MAY 2016 <br /> 1 <br />