Faber Construction Corporation 1/10/2019

City of Everett 00 7200 - 39 Evergreen Branch Library Expansion 2017-008 payable to the bank or trust company. Such check shall be converted into bonds and securities chosen by the Contractor as the interest accrues. The Contractor shall designate the option desired at the time the Contract is executed. If the Contractor chooses option 2(deposit in escrow account),Contractor agrees to assume full responsibility to pay all costs that may accrue from escrow services,brokerage charges or both,and further agrees to assume all risks in connection with the investment of the retained percentages in securities. Retainage will be released when all of the following conditions are satisfied: 1. Sixty(60)days have elapsed following the completion of all Work specified in the Contract; and 2. The Contractor fulfilled all of all obligations of the Contractor under the Contract,including,but not limited to,the Contractor's furnishing all documentation required by Contract and law;and 3. A release has been obtained from the Washington State Department of Revenue; and 4. Affidavits of Wages Paid for the Contractor and all Subcontractors are on file with the Owner (RCW 39.12.040); and 5. A release has been obtained from the Washington State Department of Labor&Industries and the Washington State Employment Security Department; and 6. All claims,as provided by law, filed against the retainage have been resolved. In the event claims are filed and provided the conditions one through five are met,the Contractor will be paid the retained percentage less an amount sufficient-to pay any such claims together with a sum ' determined by the Owner sufficient to pay the cost of claims and attorney's fees. 10. NOTICE TO OWNER ' 10.1 WHEN NOTICE MUST BE GIVEN Whenever t 1. The Contractor disagrees with any requirement,direction, interpretation or determination by the Owner or Owner's Representative; 2. The Contractor knows,or should with the reasonable exercise of ordinary care know,of a differing site condition as provided in 11.DIFFERING SITE CONDITIONS; 3. The Contractor knows,or should with the reasonable exercise of ordinary care know,of any Delay or an event that may cause a Delay; ' 4. The Contractor believes,or with the reasonable exercise of ordinary care should believe, it is entitled to an adjustment of Contract Sum or Time, even if the total or exact amount or impact cannot yet be determined; ' 5. The Contractor believes it is required or directed to perform work that is outside the scope of the Contract Documents;or 6. An event occurs,or fails to occur,that the Contractor believes,or should reasonably foresee,may result in a Contract Claim; the Contractor shall immediately give Notice to the Owner or Owner's Representative as provided in this section and elsewhere in the General Conditions and Specifications. Timely and adequate Notice is a condition precedent to a Contract Claim. ' Requests for extensions of Contract Time must be made and will be evaluated in accordance with 5.2.2.2 Extensions of Contract Time. Irrespective of any request for additional compensation or Contract Time or any Contract Claim that work is extra and not part of the original scope of Work,the Contractor shall proceed expeditiously and promptly with the work as the Owner orders. 00 7200 -39 GENERAL CONDITIONS