AIA 101 Agreement 08302024 - Laserfiche WebLink

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9.6.8 At Contractor' request upon commencement of the Work, an escrow account shall be established in a financial institution chosen by the Contractor and approved by the Owner. 9.6.9 The escrow agreement shall provide that the financial institution will act as escrow agent, will pay interest on funds deposited in such account in accordance with the provisions of the escrow agreement and will disburse funds from the account upon the direction of the Owner as set forth below. Compensation to the escrow agent for establishing and maintaining the account shall be paid from interest accrued in the escrow account. 9.6.10 As each progress payment is made, the retainage with respect to that payment shall be deposited by the Owner in the escrow account. 9.6.11 The interest earned on funds in the account shall accrue for the benefit of the Contractor until the completion date named in the Construction Contract or the expiration of any authorized extension of such date. Interest earned after such date shall accrue to the benefit of the Owner. Cost of compensation to the escrow agent paid out of interest earned shall be borne by the Contractor. 9.6.12 When the Contractor has fulfilled all of the requirements of the Contract providing for reduction of retained funds, the escrow agent shall release to the Contractor one-half of the accrued funds but none of the interest thereon. When the Work has been fully completed in a satisfactory manner and the Architect has issued a final Certificate for Payment, the escrow agent shall pay to the Contractor the full amount of funds remaining in the account, including net balance of interest paid to the account, but less any interest accrued for the benefit of the Owner, which shall be paid to the Owner. 9.6.13 If, after Substantial Completion of the Work, final completion thereof is materially delayed through no fault of the Contractor, the escrow agent shall make payment to the Contractor as provided in Subparagraph 9.10.3. 9.6.14 No certificate given or payment made shall be evidence of the performance of the Contract, either wholly or in part, against the claim of the Owner to the contrary, and no payment shall be construed to be an acceptance of any defective work which may before or afterwards appear. 9.10.3 INSERT the phrase "in writing" in the first sentence to read as follows: ... affecting final completion, and the Architect so confirms in writing, the Owner. . ARTICLE 10 - PROTECTION OF PERSONS AND PROPERTY 10.2.1 ADD the following new clause: .4 Contractor shall specifically provide control of on -site pedestrians during all access to site by construction vehicles or construction material delivery vehicles. Provide all Kittitas County — Lower Valley 15 of 24 Supplementary General Transfer Station Conditions of the Contract June 18, 2024