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PORT OF EVERETT <br />UNION SLOUGH MARSH MITIGATION <br />/:� <br />� <br />C. <br />MANAGEMENT OF <br />RETAINED PERCENTAGE <br />CONTRACTOR'S DECLARATION OF OP'I'ION FOR MANAGEMENT OF <br />STATUTORY RETAINED PERCENTAGE <br />I hereby elect to have the retained percentage of this contract held in a fund by the <br />Owner until thirty (30) days following final acccptance of the work. <br />Date <br />Signed <br />I hereby elect to have the Owner deposit the retained percentage of this contract in an <br />interest bearing account, not subject ro withdrawal until after fmal acceptance of the <br />work. <br />Date <br />1 hereby elect to have the Owner invest the retained percentage of this contract from <br />time to time as such retained percentage accrues. <br />I hereby designate <br />as the repository for the escrow of said funds. <br />1 hereby further agree to be fully responsible for payrnent of all costs or fees incurred as <br />a result of placing said retained percentage in escrow and investing it as authorized by <br />statute. The Owner shall not be liable in any way for any costs or fees in connection <br />therewith. <br />Prior to the Owner investing any fund �i an escrow account, the contractor shall obtain <br />a letter from the repositor on their letterhead stating the'v acceptance of the account, <br />the accoimt number and a statement that they will not release any funds until authorized <br />in writin� by the Owner. <br />Date <br />Signed <br />lofl <br />