WITNESSETH: Page 1 of 9

Similar documents
EXHIBIT VIII-N PERFORMANCE AND PAYMENT BONDING REQUIREMENTS

WEST BOYLSTON MUNICIPAL LIGHTING PLANT 4 Crescent Street, West Boylston, Massachusetts Telephone (508) Fax (508)

EXHIBIT F-1 (I) FORM OF DESIGN-BUILD LETTER OF CREDIT VIRGINIA DEPARTMENT OF TRANSPORTATION 1401 EAST BROAD STREET RICHMOND, VA ATTN: [ ]

BOND FOR FAITHFUL PERFORMANCE

Yurok Tribe Planning and Community Development Klamath, California. Yurok Justice Center Bid Documents EXHIBIT B: BID FORM

CONTRACT. This agreement, made and entered into this day of, 2013, in Reno, Nevada, by and between the City of Reno, hereinafter called the City, and

LAND IMPROVEMENT AGREEMENT

BOND FOR FAITHFUL PERFORMANCE

GENERAL APPLICATION AND AGREEMENT OF INDEMNITY CONTRACTORS FORM

Invitation to Bid. FUNDING: The project shall be funded entirely with County funds, and shall be governed by strict guidelines for use of funds.

GENERAL APPLICATION AND AGREEMENT OF INDEMNITY CONTRACTORS FORM

FORM OF AGREEMENT BETWEEN CONSTRUCTOR AND OWNER

SIDEWALK CONSTRUCTION PARTICIPATION AGREEMENT

F O R M OF P R O P O S A L

CONTRACTOR INFORMATION - Attach most recent company year-end financial statement or tax return.

ECONOMIC DEVELOPMENT PARTNERSHIP AGREEMENT BETWEEN THE PORT OF SEATTLE AND THE CITY OF

OHIO DEPARTMENT OF TRANSPORTATION

ATTACHMENT B: SAMPLE CONTRACT (AGREEMENT)

Bid Addendum #1 Bid # 13/14-01FA: Furniture and Equipment Bid Issued March 19, 2014

BID: Escanaba WWTP Digester Roof Restoration

Sunnyside Valley Irrigation District

PERFORMANCE BOND. Surety Bond No. STATE OF TEXAS KNOW ALL MEN BY THESE PRESENTS: COUNTY OF

QUOTE DOCUMENTS FOR KING PARKING EXPANSION Forest Avenue. Des Moines, Iowa QUOTE # Q6747. Owner

C. Public-private partnership construction contracts. (a) Definitions for purposes of this section: (1) Construction contract.

AGREEMENT BETWEEN OWNER AND CONTRACTOR FOR CONSTRUCTION CONTRACT (STIPULATED PRICE)

QUOTE DOCUMENTS FOR CALLANAN GYM FLOOR REPLACEMENT center Street. Des Moines, Iowa QUOTE # Q7088

September 16, 2016 CCTA Contract No. 427 Caltrans Contract No. 04-4H1604 Balfour Interchange Project

SUBDIVISION PUBLIC IMPROVEMENT PERFORMANCE AND MAINTENANCE SECURITY AGREEMENT

FIRST INDEMNITY OF AMERICA INSURANCE COMPANY INDEMNITY AGREEMENT

Invitation for Informal Bid (IFIB) Summary. 3. Exhibit A Proposal / Bid Forms.. 7. Agreement. 12. Payment Bond 14. Performance Bond 17

A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF HOLLYWOOD, FLORIDA, AUTHORIZING THE

CONTRACT FORM CONTRACT #

Subcontractor's Application for Payment (K201)

CITY OF PETALUMA. POST OFFICE Box 61 PETALUMA, CA ADDENDUM NO. 1. AIRPORT PREVENTIVE MAINTENANCE RAMP CRACK SEAL City Project No.

ATTACHMENT NO. 1 BIDDER S PROPOSAL ACKNOWLEDGEMENT

CITY OF RICHMOND PERFORMANCE BOND

Electronic Distribution Only Not For Bidding Purposes

NAPA SANITATION DISTRICT

CONTRACT AND BOND FORMS FOR

SUBDIVISION IMPROVEMENT AGREEMENT. (Date of Subdivision Map Recordation: )

SOURCE ONE SURETY, LLC.

CONTRACT DOCUMENTS SPECIFICATIONS. for RAILROAD AVE. AND MAIN STREET TRAFFIC SIGNAL UPGRADE CITY OF FORT MORGAN, COLORADO.

BUILDING PERMIT PERFORMANCE AND MAINTENANCE BOND (Owner and/or Contractor Form)

TENDER OF COMPLETION CONTRACTOR TO CITY AND RELEASE AGREEMENT. This TENDER OF COMPLETION CONTRACTOR TO CITY AND RELEASE

THIS CONTRACT is executed as of this day of, 2017, effective as of October 1, 2017 (the Effective Date ), by and between the CITY OF

MAINTENANCE & WARRANTY BOND. Carroll County Board of Commissioners 423 College Street, Carrollton, Georgia, 30117

AGREEMENT 4 pages. SPECIFICATION 1 page. LABOR & MATERIALS 4 pages. PERFORMANCE BOND 4 pages

Guarantor additionally represents and warrants to Obligee as

POLE ATTACHMENT LICENSE AGREEMENT SKAMANIA COUNTY PUD

INTERGOVERNMENTAL COOPERATION AGREEMENT. between the CITY OF CREVE COEUR, MISSOURI, and the

DEPOSITORY AND BANKING SERVICES CONTRACT. This Depository and Banking Services Contract, hereinafter

FINAL RELEASE OF CONSTRUCTION LIEN RIGHTS

Termination for Default,

GOODS & SERVICES AGREEMENT FOR ORDINARY MAINTENANCE. between the City of and

Newark Unified School District 5715 Musick Ave., Newark, California Telephone (510) ; FAX (510)

Public Notice Advertisement for Bids

RUSSELL VOLUNTEER FIRE DEPARTMENT AND TOWN OF RUSSELL AGREEMENT

Contract for St. Johns County School Board Osceola Elementary School Classroom Expansion

1. Developer is a(n) individual partnership corporation, doing business in Tarrant County, Texas, whose address is

ABC UNIFIED SCHOOL DISTRICT Notice Calling for Bids ABC-1325 E-Rate Equipment INSTRUCTIONS FOR BIDDERS

THE MARYMOUNT MANHATTAN COLLEGE RESIDENCE WITNESSETH:

LAND TRUST AGREEMENT W I T N E S S E T H

CERTIFICATE. Final. Upon. Instructions: letterhead. Page 1 of 3. CDC Documents. Revised 1/22/2018

UNIVERSITY OF KENTUCKY CAPITAL CONSTRUCTION PROCUREMENT SECTION PAYMENT BOND

APPROVED FOR THE CITY ENGINEER BY BOND CONTROL

AGREEMENT #AGR FRIENDS OF DUNNELLON CHRISTMAS PARADE, INC. ASSIGNMENT OF MEMORANDUM OF AGREEMENT TO RAINBOW SPRINGS ART, INC.

CONTRACT FOR ROOF REMOVAL AND REPLACEMENT - Milford Middle School

Request For Proposals Hwy 124 E ADA Door Opener Hallsville City Hall

LAND TRUST AGREEMENT

CONSIGNMENT AGREEMENT - FINE JEWELRY

(01/31/13) Principal Name /PIA No. PAYMENT AND INDEMNITY AGREEMENT No.

GRANT AGREEMENT WITNESSETH:

CAPTION FINANCIAL SUMMARY

CITY OF ENID RIGHT-OF-WAY AGREEMENT

ON-CALL EMERGENCY CONSTRUCTION CONTRACT AGREEMENT IN THE CITY OF CALABASAS, CALIFORNIA

OPEN-END MORTGAGE. Situate in City (Township) of, County, Ohio, and being more particularly described as follows:

CITY OF GAINESVILLE REQUEST FOR PROPOSAL

DEVELOPMENT CONTRACT FOR PUBLIC IMPROVEMENTS. WHEREAS,, (the Developer ), whose. business address is, is the owner and developer of

Agreement for Net Metering and Interconnection Services (Level 1, 2 and 3 Interconnection)

CITY OF ST. GEORGE STORMWATER MANAGEMENT BMP MAINTENANCE AGREEMENT WITH OWNER'S NAME FOR PROJECT NAME

CITY OF PROSSER REQUEST FOR PROPOSAL. To Provide. On Call Electrical Services. Located at: TH STREET PROSSER, WASHINGTON 99350

City of Malibu Stuart Ranch Road Malibu, California Phone (310) Fax (310)

EXCAVATION BOND. To Cover Excavations on Property and Highways Belonging to Salt Lake County. THAT, we,, as Principal,

FORM 32 PERFORMANCE BOND UNDER SECTION 85.1 OF THE ACT Construction Act

LICENSE AGREEMENT. The Licensor desires to grant, and the Licensee wishes to obtain, the right and license to Produce and Distribute the same Seeds.

AGREEMENT AND DECLARATION OF TRUST

EXHIBIT CONSTRUCTION CONTRACT BOND

CONSULTANT AGREEMENT

TOURISM PROMOTION AGREEMENT

TOHOPEKALIGA WATER AUTHORITY WATER, REUSE, AND WASTEWATER SYSTEM DEVELOPER'S SERVICE AGREEMENT

SAMPLE DOCUMENT FOR FORMATTING ILLUSTRATION ONLY JOINT VENTURE AGREEMENT

AGREEMENT FOR PROFESSIONAL SERVICES

EXHIBIT C FACILITIES MASTER PLAN CONSTRUCTION MANAGEMENT SERVICES AGREEMENT

Land Trust Agreement. Certification and Explanation. Schedule of Beneficial Interests

SAN ANTONIO WATER SYSTEM SERVICES AGREEMENT AGREEMENT FOR. THIS IS A SERVICE AGREEMENT (this Agreement ) by and between

BOND AGREEMENT CERTIFICATE OF OCCUPANCY - CASH ONLY COMPLETION OF PUBLIC OR PRIVATE IMPROVEMENTS

STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION PURCHASE ORDER TERMS & CONDITIONS

BYLAWS OF THE PLAZA CONDOMINIUM ASSOCIATION AN IOWA NON-PROFIT CORPORATION

PROFESSIONAL SERVICES AGREEMENT

LEASE AGREEMENT FOR PLACING ATM AT MUNICIPAL COURT OF RECORD IN THE CITY OF BAYTOWN, TEXAS AND RONALD D. MCLEMORE POLICE SUBSTATION

Transcription:

CONTRACT CITY OF FERNDALE PIONEER PAVILION 2015 RENOVATION, #FA2015-01 W This Contract, made and entered into this 7 day of April, 2015 by and between the City of Ferndale, hereinafter called the "Owner and Roosendaal HoncoopConstruction, Inc., hereinafter called the Contractor. WITNESSETH: That in consideration of the terms and conditions contained herein and attached and made a part of this Contract, the parties hereto covenant and agree as follows: 1. The Contractor shall do all of the work and?lmish all of the labor, tools and equipment for the construction of the improvements and shall perform any changes in the work, all in full compliance with the contract documents entitled PIONEER PAVILION 2015 RENOVATION, Femdale, Washington". The Bid Proposal, Project Manual, Contract Forms, Addenda, and the Plans contained in said contract documentsare hereby referred to and by reference made a part hereof. The Owner hereby promises to supply all materials and agrees with the Contractor to employ, and does employ the Contractor to?irnish the labor, tools and equipment, and to and cause to be done the above-describedwork, and to complete and?nish the same in accordance with the said contract documentsand the terms and conditions herein contained, and hereby contracts to pay for the same, according to the said contract documents and lump sum prices in the Bid Proposal, the sum of $148,170.00,the total amount of Base bid & Alternate #2, subject to the actual quantity of work performed, at the time and in the manner and upon the conditions provided for in this contract. The Contractor for himself, and for his agents, successors, assigns, subcontractorsand/or employees, does hereby agree to the full performance of all the covenants herein contained upon the part of the Contractor. The Owner hereby appoints and the Contractor hereby accepts King Architecture, LLC, hereinafter referred to as the Architect, as the City s representative for the purpose of administering the provisions of this contract, includingthe Owner s right to receive and act on all reports and documents related to this contract, to request and receive additional information?om the Contractor, to assess the general perfonnance of the Contractor under this Contract, to determine if the contracted services are being performed in accordance with Federal, State or local laws, and to administer any other right granted to the Owner under this Contract. The Owner expressly reserves the right to terminatethis Contract as provided in the contract documents, and also expressly reserves the right to commence civil action for the enforcement of this contract. This Contract contains terms and conditionsagreed upon by the parties. The parties agree that there are no other understandings,oral or otherwise, regardingthe subject matter of this Contract. Page 1 of 9

The Contractor agrees to comply with all applicable Federal, State, City or municipal standards for the licensing, certi?cation, operation of facilities and programs, and accreditation and licensing of individuals. The Contractor shall not assign or subcontract any portion of the work provided for under the terms of this Contract without obtaining prior written approval of the Owner. All terms and conditions of this Contract shall apply to any approved subcontract or assignment related to this Contract. The parties intend that an independent Contractor-Owner relationship will be created by this Contract. The Owner is interested only in the results to be achieved; the implementation of the work will lie solely with the Contractor. The Contractor will be solely and entirely responsible for its acts and for the acts of its agents, employees, servants, subcontractors, or otherwise during the performance of this Contract. In the performance of the work herein contemplated, the Contractor is an independent Contractor with regard to the performance of the details of the work; however, the components of and the results of the work contemplated herein must meet the approval of the Owner and shall be subject to the Owner s general rights of inspection and review to secure the satisfactory completion thereof. The Contractor agrees and covenants to indemnify, defend, and save harmless, the Owner and the City of Ferndale and those persons who were, now are, or shall be duly elected or appointed of?cials or members of employees thereof, hereinafter referred to as the "Owner" or City" against and from any loss, damage, costs, charge, expense, liability, claims, demands or judgments, of whatsoever kind or nature, whether to persons or to property, arising wholly or partially out of any act, action, neglect, omission, or default on the part of the Contractor, his agents, successors, assignees, subcontractors and/or employees, except only such injury or damage as shall have been caused by or resulted from the sole negligence of the City. In case any suit or cause of action shall be brought against the Owner or the City on account of any act, action, neglect, omission, or default on the part of the Contractor, his agents, successors, assignees, subcontractors and/or employees the Contractor hereby agrees and covenants to assume the defense thereof and to pay any and all costs, charges, attorney's fees and other expenses and any and alljudgments that may be incurred or obtained against the City. In the event the Owner is required to institute legal action and/or participate in the legal action to enforce this Indemni?cation and Hold Harmless Clause, the Contractor agrees to pay the Owner or City's legal fees, costs and disbursements incurred in establishing the right to indemni?cation. If the claim, suit, or action for injuries, death, or damages as provided for in the preceding paragraphs of this speci?cation is caused by or results from the concurrent negligence of (a) the indemnitee or the indemnitee's agents or employees and (b) the indemnitor or the indemnitor's agents for employees the indemnity provisions provided for in the preceding paragraphs of this speci?cation shall be valid and enforceable only to the extent of the indemnitor'snegligence. Contractor hereby speci?cally and expressly waives any immunity under Industrial Insurance, Title 51 RCW and acknowledges that this waiver was mutually negotiated by the Page 2 of 9

parties herein. In the event of litigation between the parties to enforce the rights under this paragraph,reasonable attorney's fees shall be allowed to the prevailing party. 10. ll. 12. l3. 14. This Contract has been and shall be construed as having been made and deliveredwithin the State of Washington, and it is mutually understood and agreed by each party hereto that this Contract shall be governed by the laws of the State of Washington, both as to interpretation and performance. Any action in law, suit and equity or judicial proceedings for the enforcement of this contract, or any provisions thereof, shall be instituted and maintained in the courts of competent jurisdiction located in City of Ferndale, Washington. The failure of the Owner to insist upon strict performance of any of the covenants and agreements of this Contract or to exercise any option herein conferred in any one or more instances shall not be construed to be a waiver or relinquishment of any such, or any other covenants or agreements, but the same shall be and remain in full force and effect. It is understood and agreed by the parties hereto that if any part of this agreement is determined to be illegal, the validity of the remaining portions shall be construed as if the agreement did not contain the particular illegal part. No change or addition to this Contract shall be valid or binding upon either party unless such change or addition shall be in writing, executed by both parties. In the event that funding from State, Federal, or other sources is withdrawn, reduced, or limited in any way after the effective date of this Agreement, and prior to its normal completion, the Owner may summarily terminate this Agreement as to the funds withdrawn, reduced, or limited notwithstanding any other termination provisions of this Agreement. If the level of funding withdrawn, reduced or limited is so great that the Owner deems that the continuation of the programs covered by this Agreement is no longer in the best interest of the City, the Owner may summarily terminate this Agreement in whole notwithstanding any other termination of this Agreement. Termination under this section shall be effective upon receipt of written notice as speci?ed herein. IN WITNESS WHEREOF, the Contractor has executed this instrument,on the day and year?rst below writtenand the Owner has caused this instrument to be executed by and in the name of the said County, the day and year?rst abovewritten. -IL Executed by the Contractor this 1 day of April, 2015 CITY OF FERNDALE: Page 3 of9

j 4 STATE 0 WASHINGTON ) ) ss. COUNTY OF WHATCOM ) On this llln5- day of April, 2015, before me personally appeared to me personally known to be the person described in and who executed the above instrument and who acknowledged to me the act of signing thereof. 3 CONTRACTOR: NOTARYPUBLIC E NOTARY PUBLIC, in and for the STATEOFWASHINGTON COMMISSION EXPIRES State of Washington, residing at: My Commission Expires: SH?[I Z By: Title: ml Hm,9 V STATE OF WASHINGTON ) ) ss. COUNTY OF WHATCOM ) On this 2dz day of April, 2015, before me personally appeared to me personally known to be the person described in and ho executed the above instrument and who acknowledged to me the act of signing thereof., - /Z/ML, i N ARY P LI and for the State of Washington, residing at: Ldzmlam My Commission Expires: /13,271]//{Q Page 4 of 9

PERFORMANCE BOND to the City of Ferndale KNOW ALL MEN BY THESE PRESENTS, that we Roosendaal-HoncoopConstruction, Inc. the Contractor named in the Contract hereina?er referred to as PRINCIPAL, and Ohio Casualty Insurance Company as SURETY, are jointly and severally held and?rmly bound to the City of Ferndale, hereinafter referred to as OWNER named in said Contract Pioneer Pavilion 2015 Renovation, Ferndale, Washington, for the penal sum of, One Hundredand Forty Eight ThousandOne Hundred and Seventy, DOLLARS ($148,170.00) lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, assigns, administratorsand successors jointly and severally,?rmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH, that Whereas, the Principal entered intoacontract with the Owner, dated the fl W day of April, 2015, for such construction work with the City of Ferndale, Washington. NOW, THEREFORE, if the Principal shall well, truly and faith?illy perform all of the provisions and ful?ll all of the undertakings, covenants, terms, conditionsand agreements of said contract during the period of the original contract and any extensions thereof that may be granted by the Owner, with or without notices to the surety; and during the life of any guaranty required under the contract; and shall also well and truly perform and?ll?il all of the undertakings, covenants, terms, conditions and agreements of any and all duly authorized modi?cations of said contract that may hereafter be made; notice of which modi?cations to the surety being hereby waived, shall indemnify and save harmless owner from all cost and damage by reason of the principal's default of failure to do so, and shall pay the State of Washington sales and use taxes, and amounts due said state pursuant to Titles 50 and 51 of the Revised Code of Washingtonthen this obligation to be void, otherwise to remain in full force and effect. IN WITNESS WHEREOF, the above bonded parties have executed this instrumentunder their separate seals this fl A day of April, 2015, the name and corporate seal of each corporate party hereto af?xed, and these presents duly signed by its undersigned representatives pursuant to authority of its governing body. Page 5 of 9

PAYMENT BOND To the City of Ferndale 0/ KNOW ALL MENT BY THESE PRESENTS: that Roosendaal Honcoo Construction Inc. (Name of Contractor) 5977 Guide Meridian Bellingham WA 98226 (Address of Contractor) a Corporation, hereinafter called Principal, (Corporation, Partnership or Individual) and Ohio Casualty Insurance Cormnany 62 Maple Ave. Keene NW 03431 (Name of Surety) (Address of surety) hereina?er called SURETY, are held and?rmly bound unto Citv offerndale (Name of Owner) 2095 Main Street Ferndale WA 98248 (Address of Owner) hereinafter called OWNER, in the penal sum of One Hundred and Forty Eight Thousand One Hundred and Seventy, DOLLARS, $148 170 ) in lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, successors, and assigns, jointly and severally,?rmly by these presents. THE CONDITION OF THIS OBLIGATION is such that whereas, the Principal entered into a certain contract with the OWNER, dated the for the construction of: day of April, 2015, a copy of which is hereto attached and made a part hereof Renovation of the City of Ferndale, Pioneer Pavilion building: Selective demolition to remove non-bearing interior walls, minor recon?guration of interior spaces to add new storage rooms. Work also includes installation of a new bidder design?re sprinkler system. Existing?ooring to be protected during construction. Structural purlins to be added between existing steel trusses & beams to support the new?re sprinkler lines. The area of the existing building is approximately 11,560 s.f. The existing structure includes rigid steel frames at 20 on center, with 80 spans, bearing on concrete pile-caps on wood piling. Existing slab is concrete slab on grade. Including Alternate bid #2 installing owner provided counter door & creating a service window between rooms 116 & 102. All work as shown on the Drawings and Project Manual. NOW, THEREFORE, if the Principal shall promptly make payment to all persons, firms,subcontractors, and corporations fumishing materials for or performing labor in the prosecution of the WORK provided for in such contract, and any authorized extension or modi?cation thereof including all amounts due for materials, lubricants, oil, gasoline, coal, and coke, repairs on machinery, equipment and tools, consumed or used in connection with the constructionof such WORK, and all Insurance premiums on said WORK, and for all labor, performed in such WORK whether by SUBCONTRACTOR or otherwise,then this obligation shall be void; otherwise to remain in full force and effect. Page 6 of 9

PROVIDED, FURTHER, that the said SURETY for value received hereby stipulates and agrees that no change, extension of time, alteration or addition to the ten-ns of the contract or to the WORK to be performed thereunderor the SPECIFICATIONS accompanying the same shall in any wise affect its obligation on this BOND, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the contract or to the WORK or to the SPECIFICATIONS. PROVIDED, FURTHER, that no?nal settlement between the OWNER and the CONTRACTOR shall abridge the right of any bene?ciary hereunder, whose claim may be unsatis?ed. IN WITNESS WHEREOF, this instrument is executed in counterparts, each one of which (number) shall be deemed an original, this the day of April, 2015. ATTEST: (Principal) Secretary Principal (SEAL) By (s) (Address) Witness as to Principal (Address) (Surety) ATTEST: By (Attorney in F act) Witness as to Surety (Address) (Address) NOTE: Date of BOND must not be prior to date of Contract. If CONTRACTOR is Partnership, all partners should execute BOND. IMPORTANT: Surety companies executing BONDS must appear on the Treasury Department s most current list (Circular 570 as amended) and be authorized to transact business in the State where the PROJECT is located. Page 7 of 9

CITY OF FERNDALE RETAINAGE INVESTMENT OPTION CONTRACTOR: PROJECT NAME: Roosendaal-HoncoopConstruction City of Femdale.Pioneer Pavilion 2015 Renovation DATE: 7 April 2015 Pursuant to Chapter 60.28 RCW, you may choose how your retainage under this contract will be held and invested. Please complete and sign this form indicatingyour preference. If you fail to do so, the City of Femdale (City) will hold your retainage as describedin "Current Expense", option 1 below. 1. /2. Current Expense: The City will retain your money in its Current Expense Fund Account until thirty days following?nal acceptance of the improvementor work as completed. You will not receive interestearned on this money. Interest Bearing Account: The City will deposit retainage checks in an interestbearing account in a bank, mutual savingsbank, or savings and loan association, not subject to withdrawal until after the?nal acceptance of the improvement or work as completed or until agreed to by both parties. Interest on the account will be paid to you. BONDS AND SECURITIES ACCEPTABLE BY THE CITY OF FERNDALE: 1. Bills, certi?cates, notes or bonds of the United States. 2. Other obligations of the United States or its agencies. 3. Indebtedness of the Federal national Mortgage Association. 4. Time Deposits in commercial banks. Designate below the type of investmentselected: Bond-in-Lieu: With the consent of the City, the contractor may submita bond for all or any portion of the amount of?rnds retainedby the City in a form acceptable to the City and from a bonding company meeting standardsestablishedby the City, if any. Unless otherwise indicated, the contractor elects to submita bond for the entire 5% retainage amount. Such bond and any proceeds there from shall be made subject to all claims and liens and in the same manner and priority as set forth for retained percentages in Chapter 60.28 RCW. Wheneverthe City accepts a bond-in-lieu of retained?rnds from a contractor, the contractor shall accept like bonds from any subcontractorsor suppliers from which the contractor has retained funds. The contractor shall then release the funds retained from the subcontractoror supplier, to the subcontractoror supplier, within thirty days of the contractors receipt of the retained funds from the City. Page 8 of9

Retainage is normally released30 45 days a?er?nal acceptance of work by the City, or following receipt Employment Security / Department of Revenue clearance, whichevertakes longer. /)4 7//5 (Contractor's Signa r Date Title: lprrsjrlmi Page 9 of9