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CITY OF EVERETT PUBLIC WORKS <br /> SPECIAL PROVISIONS <br /> and every calendar day (or working day, if Contract Time is described in working days) <br /> in the amounts set forth in this Section. <br /> 3. For failure to achieve Substantial Completion by the Substantial Completion date stated <br /> above, the Contractor shall pay liquidated damages to the City computed at the daily rate <br /> of 15 percent of the Contract Sum multiplied by the number of days that it took the <br /> Contractor to achieve Substantial Completion that exceeded Contract Time divided by <br /> the number of days of Contract Time stated above. <br /> 4. Once Substantial Completion is achieved, for failure to achieve Physical Completion by <br /> the Physical Completion Date stated above, the Contractor shall pay liquidated damages <br /> at the daily rate of ten percent of the liquidated damages rate applicable to delays to <br /> Substantial Completion. <br /> E. Contract Sum. a <br /> 1. The amount of this Contract is '754 -I L1 .£)s3 <br /> ($ ) and is based on the proposal/bid submitted by Contractor dated <br /> cif -31-D0l1 <br /> 2. 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 <br /> therein. <br /> a. If, and to the extent, payment (in whole or in part) is based upon unit prices <br /> multiplied by quantities of work actually performed, the total amount paid to the <br /> Contractor may be less than Contract Sum stated herein and the Contractor agrees <br /> to execute one or more change orders in such event. <br /> b. Inno event shall the total amount paid Contractor exceed the Contract Sum stated <br /> herein, unless the Contract amount has first been increased by one or more Change <br /> Orders signed by the City. <br /> c. The City may, in its sole discretion, withhold amounts from payments otherwise <br /> due as offsets or backcharges for expenses, damages, liquidated damages or costs <br /> for which the Contractor is liable for not to exceed 10 percent of the total amount <br /> of the contract. <br /> d. If the City chooses not to offset or deduct any such expenses, damages, liquidated <br /> damages or costs from one or more payments or return of retainage, the City does <br /> not waive its claim for such damages and hereby expressly reserves its right to <br /> assert a claim against the Contractor for such damages. <br /> F. Withholding. <br /> 1. Five percent of amounts due Contractor shall be retained and withheld to ensure to <br /> comply with RCW Chap. 60.28. <br /> 2. Retained amounts shall only be released: <br /> a. as required by law or <br /> b. 60 days after completion of all contract work if there are no claims against the <br /> retained funds. <br /> 3. In addition to the amounts required by RCW 60.28 to be withheld from the progress or <br /> retained percentage payments to the Contractor, the City may, in its sole discretion, <br /> withhold any amounts sufficient to pay any claim against the Contractor of which the <br /> City may have knowledge and regardless of the informalities of notice of such claim <br /> arising out of the performance of this contract. <br /> 4. The City may withhold the amount until either the Contractor secures a written release <br /> from the claimant, obtains a court decision that such claim is without merit, or satisfies <br /> any judgment in favor of the claimant on such claim. <br /> 5. The City shall not be liable for interest during the period the funds are so held. <br /> WFP Operations Building Seismic Retrofit- Rebid January 6,2017 <br /> WO#UP3600 006013 -2 <br />