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6 <br /> damages applicable to the period after substantial completion is achieved until Final Acceptance <br /> shall be at the daily rate of ten percent (10%) of the liquidated damages rate applicable to delays <br /> to substantial completion. <br /> The amount of this Contract is ($ ) and is based on <br /> the proposal/bid submitted by Contractor dated <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. If, <br /> and to the extent, payment(in whole or in part) is based upon unit prices multiplied by quantities <br /> of work actually performed,the total amount paid to the Contractor may be less than Contract <br /> amount stated herein and the Contractor agrees to execute one or more change orders in such <br /> event. In no event shall the total amount paid Contractor exceed the Contract amount stated <br /> herein, unless the Contract amount has first been increased by one or more Change Orders signed <br /> by the City. The City may, in its sole discretion, withhold amounts from payments otherwise due <br /> as offsets or backcharges for expenses, damages, liquidated damages or costs for which the <br /> Contractor is liable. If the City ch000ses not to offset or deduct any such expenses, damages, <br /> liquidated damages or costs from one or more payments or return of retainage, the City does not <br /> waive its claim for such damages and hereby expressly reserves its right to assert a claim against <br /> the Contractor for such damages. <br /> Five percent(5%) of amounts due Contractor shall be retained and withheld to ensure the timely <br /> and faithful completion of the work, to comply with RCW Chap. 60.28, and to provide a source <br /> of funds for liquidated or other damages. Except for a continuing retention of five percent(5%) <br /> of moneys earned for landscaping,retained amounts shall only be released: (A) as required by <br /> law or(B) sixty(60) days after completion of all contract work if: (1)there are no claims against <br /> the retained funds, (2)the Contractor satisfied test requirements, and(3)the Contractor <br /> faithfully,timely and completely performed the Contract. In addition to the amounts required by <br /> RCW 60.28 to be withheld from the progress or retained percentage payments to the Contractor, <br /> the City may, in its sole discretion, withhold any amounts sufficient to pay any claim against the <br /> Contractor of which the City may have knowledge and regardless of the informalities of notice of <br /> such claim arising out of the performance of this contract. The amount may be withheld by the <br /> City until either the Contractor secures a written release from the claimant, obtains a court <br /> decision that such claim is without merit, or satisfies any judgment in favor of the claimant on <br /> such claim. The City shall not be liable for interest during the period the funds are so held. <br /> Contractor agrees to comply with all state and federal laws relating to the employment of labor <br /> and wage rates to be paid. <br /> Contractor shall actively and in good faith solicit the employment of minority group members <br /> and bids for the supply of goods or subcontracting of services from qualified minority businesses. <br /> Contractor shall consider granting contracts to possible minority suppliers and subcontractors on <br /> the basis of substantially equal proposals in the light most favorable to the minority businesses. <br /> Contractor shall furnish evidence of its compliance with these requirements. As used in this <br /> section,the term"minority business"means a business at least fifty-one percent (51%) of which <br /> is owned by minority group members. Minority group members include, but are not limited to, <br /> 30 00500 contran.doc 2 of 5 <br />