Laserfiche WebLink
9.6.8 At Contractor' request upon commencement of the Work, an escrow account <br />shall be established in a financial institution chosen by the Contractor and <br />approved by the Owner. <br />9.6.9 The escrow agreement shall provide that the financial institution will act as escrow <br />agent, will pay interest on funds deposited in such account in accordance with the <br />provisions of the escrow agreement and will disburse funds from the account upon <br />the direction of the Owner as set forth below. Compensation to the escrow agent <br />for establishing and maintaining the account shall be paid from interest accrued in <br />the escrow account. <br />9.6.10 As each progress payment is made, the retainage with respect to that <br />payment shall be deposited by the Owner in the escrow account. <br />9.6.L1 The interest earned on funds in the account shall accrue for the benefit of <br />the Contractor until the completion date named in the Construction Contract or <br />the expiration of any authorized extension of such date. lnterest earned after <br />such date shall accrue to the benefit of the Owner. Cost of compensation to the <br />escrow agent paid out of interest earned shall be borne by the Contractor. <br />9.6.12 When the Contractor has fulfilled all of the requirements of the Contract <br />providing for reduction of retained funds, the escrow agent shall release to the <br />Contractor one-half of the accrued funds but none of the interest thereon. When <br />the Work has been fully completed in a satisfactory manner and the Architect has <br />issued a final Certificate for Payment, the escrow agent shall pay to the Contractor <br />the full amount of funds remaining in the account, including net balance of <br />interest paid to the account, but less any interest accrued for the benefit of the <br />Owner, which shall be paid to the Owner. <br />9.6.13 lf, after Substantial Completion of the Work, final completion thereof is <br />materially delayed through no fault of the Contractor, the escrow agent shall <br />make payment to the Contractor as provided in Subparagraph 9.10.3. <br />9.6.14 No certificate given or payment made shall be evidence of the <br />performance of the Contract, either wholly or in part, against the claim of the <br />Owner to the contrary, and no payment shall be construed to be an acceptance <br />of any defective work which may before or afterwards appear. <br />9.10.3 INSERT the phrase "in writing" in the first sentence to read as follows: <br />. . . affecting final completion, and the Architect so confirms in writing, the Owner . <br />ARTICLE 10. PROTECTION OF PERSONS AND PROPERW <br />IO.2.L ADD the following new clause: <br />.4 Contractor shall specifically provide control of on-site pedestrians during all access to <br />site by construction vehicles or construction material delivery vehicles. Provide all <br />Kittitas County - Lower Valley <br />Transfer Station <br />Supplementary General <br />Conditions of the Contract <br />June 18, 2024 <br />15 of 24