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IPORT OF EVERLTT SECTION 00610 <br /> 1''rt� STREET l9ARIl��.4—VOLG�N(E l: M.AR.�vE \��ORI: h�1A\:�GE'�tENT OF RETAINED <br /> IPERCENTAGE <br /> ICOVTRACTUR'S DECLARATION OF OYT]ON FOR �fA\AGF.�1E\T OF <br /> ISTATUTORY RETAINED PERCENT.AGE <br /> � p. I hereby eleet to have the retained percentage of tl�is contract l�eld in a fund by the PORT. <br /> Date Signed <br /> B. I hereby elect to have the PORT deposit die retained percei�ta�—'e of this contract in �n <br /> interest bearing account, not subject to withdrawal until after final acceptance of the «•ork. <br /> iDate Signed <br /> C. I hereby elect to have the PORT invest the retained percentaee of tnis contract from time to <br /> time as such retained percenta�e accrues. <br /> II hereby desienate <br /> as tl�e repository for the escrow of'said funds. <br /> 1 I hereUy further a�*ree to be fully responsible for paycnent of all costs or fces incuned as a <br /> result of placing said retained percentage in escro��� and investin��it as auUiorized by <br /> statute. 7he PORT shall not Ue liable in any way for any costs or fees in ccnnection <br /> therewith. <br /> � Prior to tl�e PORT investine any fund in nn escrow account, the contractor shall obtain a <br /> letter from the repositor on their letterhead stating their acceptance of the accoun�, the <br /> account number and a statement that they��ill not release any funds unti] authorized in <br /> �critiit�Uy die PORT. <br /> Date Si�ned <br /> 00610-I <br />