HomeMy WebLinkAbout5.283A Original ContractSETON CONSTRUCTION, INC.
Contract 2B
WITNESSETH:
CONTRACT
THIS CONTRACT, made and entered into this 13th day of
August 1992, between the City of Port Angeles, hereinafter called "Owner and
of Port Townsend WA for
themselves, their heirs, executors, administrators, successors, and assigns, hereinafter called
"Contractor."
That in consideration of the payments, covenants and agreements, hereinafter mentioned
to be made and performed by the parties hereto, the parties hereto covenant and agree as
follows:
1. The Contractor shall do all work and furnish all tools, materials and equipment
for: Contract No. 2B, Port Angeles Landfill Expansion Improvements in accordance with and
as described in the attached Plans, Specifications and Contract Documents and in full compliance
with the terms, conditions, and stipulations herein set forth and attached, now referred to and
by such reference incorporated herein and made part hereof as fully for all purposes as if here
set forth in length, and shall perform any alterations in or additions to the work covered by this
Contract and every part thereof and any force account work which may be ordered as provided
in this Contract and every part thereof.
.T.
The Contractor shall provide and bear the expense of all materials, labor, carriage, tools,
implements and conveniences and things of every description that may be requisite for the
transfer of materials and for constructing and completing the work provided for in this Contract
and every part thereof.
2. The Owner hereby promises and agrees with the Contractor to employe, and does
employ the Contractor to provide the materials and to do and cause to be done this above
described work and to complete and finish the same according to the attached Plans,
Specifications and Contract Documents and the terms and conditions herein contained and hereby
contracts to pay for the same according to the attached Specifications and the schedule of unit
or itemized prices hereto attached, at the time and in the manner and upon the conditions
provided for in this Contract and every part thereof. The Owner further agrees to employ the
Contractor to perform any alterations in or additions to the work covered by the Contract and
every part thereof and any force account work that may be ordered and to pay for the same
under the terms of this Contract and the attached Plans, Specifications and Contract Documents.
3. The Contractor, for himself, and for his heirs, executors, administrators,
successors, and assigns does hereby agree to the full performance of all the covenants herein
contained upon the part of the Contractor.
2 -1
a 8� A
June 19, 1992
21- 2191 -01
s
4. Contractor agrees to timely perform all work involved in this Contract and the
Owner agrees to pay the Contractor for the work completed and materials located on -site upon
the terms set forth in the Specifications.
C
r
CITY OF PORT GELES CONTRACTOR
Bruce B. Seton
ATTEST:
Y ask
City Clerk
APPROV
City Attorney
Contract 2B
7J
President
(Title)
August 13, 1992
(Date)
June 19, 1992
21- 2191 -01
r
(1IJSEAFJRST
Brian T. Applegate
Trust Administrator
Trust Escrow Services
(206) 358 -0965
(206) 358 -0080 (facsimile)
September 14, 1992
Mr. Gary Kenworthy, P.E.
City of Port Angeles
321 E. Fifth P.O. Box 1150
Port Angeles, WA 98362
Re: Retainage Escrow 724 820290: Seton Construction /City of Port Angeles:
Landfill Contract no. 2B
Dear Mr. Kenworthy:
The above referenced account number has been assigned to the new escrow account between Seton
Construction and the City of Port Angeles. Please ensure all correspondence, warrants, and
transmittals refer to this account number. Our mailing address for such items is as follows:
Seafirst Bank Business Escrows
Attn: Brian Applegate/HOB -11
PO Box 24425
Seattle, WA 98124 -0425
I have enclosed a fully executed original of the escrow agreement for your records. Should any
questions or concerns arise at any time, I may be reached at the above telephone number. I look
forward to working with your account.
Sincerely,
e,...
•agent. enclosed
CC: Seton Construction
Seafirst Bank 1001 Fourth Avenue, Eleventh Floor /Seattle, Washington 98154
5..Q234
ESCROW AGREEMENT
INSTRUCTIONS
1
Escrow No.: 724 820290
City of Port Angeles
Contract No. 2B
Completion Date: 11/23/92
TO: Seton Construction, Inc.
4640 So. Discovery Rd.
Port Townsend, WA 98368
THIS ESCROW AGREEMENT is for the investment of the retained percentage of the above contract, in accordance
with chapter 60.28 of the Revised Code of Washington. It is limited to FDIC insured Washington State Chartered
Banks who are covered by the State of Washington Public Deposit Protection Act.
The undersigned, *aa, (as "Contractor has directed the CITY OF PORT ANGELES (as "City'),
to deliver to you its warrants which shall be payable to you and /or the contractor. The warrants are to be held and
disposed of by you in accordance with the following instruction:
1. Upon delivery the warrants shall be endorsed by you and forwarded to the City for collection. You shall
use the monies to purchase investments selected by the Contractor and approved by the City. You may
follow the last written direction received by you from the Contractor, for each purchase, provided the
.direction otherwise conforms with this agreement. Acceptable investments are:
A. Bills, certificates, notes or bonds of the United States;
B. Other obligations of the United States or its agencies;
C. Obligations of any corporation wholly owned by the Government of the United States;
D. Indebtedness of the Federal National Mortgage Association;
E. Time deposits in commercial banks;
F. Other investments, except stocks, selected by the Contractor, subject to express prior written
consent of the City.
2. The investments shall be in a form which allows you alone to reconvert them into money if you are
required to do so by the City.
3. The investments must mature on or prior to the date set for the completion of the contract, including
extension there of or thirty (30) days following the final acceptance of the work.
4. When interest on the investments accrues and is paid, you shall collect the interest and forward it to the
Contractor unless otherwise directed by the Contractor.
S. You are not authorized to deliver to the Contractor all or any part of the investments held by you pursuant
to this agreement (or any moneys derived from the sale of such investments, or the negotiation of the City's
warrants) except in accordance with the written instructions from the City. Compliance with such
instructions shall relieve you of any further liability related thereto.
6. In the event the City orders you, in writing, to reconvert the investments and return all monies, you shall
do so within thirty (30) days of receipt of the order.
7. The Contractor agrees to compensate you for your services in accordance with your current published
schedule of applicable escrow fees. Payment of all fees shall be the sole responsibility of the Contractor
and shall not be deducted from any monies placed with you pursuant to this agreement until and unless the
City directs the release to the Contractor of the investments and monies held hereunder, whereupon you
shall be entitled to reimburse yourself from such monies for the entire amount of your fee.
You shall be entitled to reasonable compensation for extraordinary services from the Contractor and
reimbursement from the Contractor for all costs and expenses, including attorney fees in the event you are
made a party to any litigation with respect to the monies held by you hereunder; the conditions of this
Escrow are not promptly fulfilled; you are required to render any service not provided for in these
instructions; or there is any assignment of the interest of this Escrow or any modifications hereof.
8. This agreement shall not be binding until signed by both parties and accepted by you.
9. This document contains the entire agreement between you, the Contractor, and the City, with respect to
this Escrow, and you are not a party to, nor bound by any instrument or agreement other than this. You
shall not be required to take notice of any default or any other matter, nor be bound by nor required to give
notice or demand, nor required to take any action whatever except as herein expressly provided. You shall
not be liable for any loss or damage not caused by your own negligence or willful misconduct.
SETON CONSTRUCTION, INC. CITY OF PORT ANGELES
Federal ,'ta_i.D No.' 91-0910295
DATE:
(Bank) i E —F NATI
!(/V\
By:
By:
Title: President
Address: 4640 So. Di.senvEYy Rd
Port Townsend, WA 98368
Title 6.`• MANAGER
1/
Address: PO BOX 24425/1108 -11
Seattle, WA 98124 -0425
Contact: Brian Applegate
(206) 358-0965
DISTRIBUTION:
Public Works Dept.
Finance Department
Contractor
2
By: )C
Title: kT1
DATE: °0 42 °1-.
°1-.
THE ABOVE ESCROW AGREEMENT RECEIVED AND ACCEPTED on the llth day of
September 19.
P•179
1
ESCROWS FEE SCHEDULE
FOR RETAINAGE ACCOUNTS
(PUBLIC WORKS CONTRACTS OR
CONTRACTOR TO SUBCONTRACTOR)
General Account Description: The following fees are applicable to escrow agreements providing for the
investment of the retained percentage of payments made by public bodies to contractors in connection with
public works contracts in accordance with Chapter 38, Laws of 1970, amending RCW 60.28.010,
60.28.030, and 60.28.050. Or Escrow Agreement, similar in nature to Public Works Contracts, between
Contractor and Subcontractor.
Contact Brian Applegate, (206) 358 -0965
Minimum acceptance fee $150.00
Minimum annual account maintenance fee $150.00
Investment Fee (Securities other than Seafirst Managed Mutual Funds) 5% of interest income
Reimbursable expenses include, without limitation, telephone charges,
legal fees, special forms, wire transfer charges, etc.
Acceptance fees and annual account maintenance fees are based on an appraisal of work and time spent.
Acceptance fees and first -year annual account maintenance fees are payable at account inception. Thereafter,
annual account maintenance fees are payable in advance. Annual account maintenance fees will not be
prorated.
For investments made through Seafirst managed mutual funds, there is no investment fee. Seafirst's fees
and charges as investment advisor, shareholder servicing agent, transfer agent and custodian are disclosed in
the applicable prospectus.
Fees are to be paid before escrowed funds are released.
Fees will be charged against amounts retained from payments by the public body to the contractor and from
interest income, if any, thereon. No fee will be charged against or deducted from any property placed in
escrow pursuant to an agreement between a public body, a contractor and Seafirst Bank until and unless the
public body directs the release to the contractor of the property held pursuant to the agreement.
Additional fees may be charged in a reasonable amount for any unusual or extraordinary services rendered
and not covered by this fee schedule.
All fees are subject to Washington State sales tax.
Fees are subject to change from time to time.
4/8/91