International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
Rev. 03/29/12 00510- 1 Notice of Award
DOCUMENT 00510
NOTICE OF AWARD
DECEMBER 10, 2025
DELIVERY VIA:
Regular U.S. Mail
Express U.S. Mail
Overnight Carriers, (FedEx, UPS, DHL etc.)
Facsimile @ Fax No. (___)_____-________and/or
Electronic Mail
BIDDER’S NAME: International Swim Center – 2026, LLC
BIDDER’S ADDRESS: 3675 Old Santa Rita Rd., Pleasanton, CA 94588
ATTENTION: Debra Eula
CONTRACT REFERENCE: City of Santa Clara Contract No. CE 25-26-01
PROJECT REFERENCE: INTERNATIONAL SWIM CENTER REHABILITATION PHASE 1
PROJECT
Congratulations, the intent of this letter is to inform you that the bid you submitted to the City of Santa Clara on December 2, 2025 for the above referenced public works contract (“Contract”), has been received and reviewed by City staff and your firm has been determined to be the lowest responsible and responsive bidder. Based on your bid and City staff recommendation, the Santa Clara City Council awarded the Contract to your firm on December 9, 2025 for the construction of the INTERNATIONAL SWIM CENTER REHABILITATION PHASE 1 PROJECT(the “Project”). The Total Contract Price for this Contract is twenty-four million five hundred eight thousand two hundred ninety-two ($24,508,292) .
However, before the City can execute this Contract and issue a Notice to Proceed to you to begin work on the Project, you must deliver the following documents to the Office of the City Clerk at 1500 Warburton Avenue, Santa Clara, CA 95050, within the next ten (10) days (on or before 5:00 p.m. on December 22, 2025):
1. One (1) complete original of Contract Document 00520, Agreement, having original signature(s) of authorized representatives of your firm on the signature page.
2. One (1) complete original of Contract Document 00610, Construction Performance Bond, indicating that the required bond has been purchased in an amount equal to the Contract price.
The bond must be fully executed by both authorized representatives of your firm and your surety.
The signature of the surety must be notarized and the notary form attached to Document 00610.
3. One (1) complete original of Contract Document 00620, Construction Labor and Materials Payment Bond, indicating that the required bond has been purchased in amount equal to the Contract price. The bond must be fully executed by both authorized representatives of your firm and your surety. The signature of the surety must be notarized and the notary form attached to Document 00620.
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
Rev. 12/19/14 00510- 2 Notice of Award
4. One (1) completed original of Contract Document 00630, Guaranty, with original signature(s) of authorized representatives of your firm.
5. One (1) complete copy of all documentary information received or generated by Contractor in preparation of Bid prices for the Contract Documents as set forth in Contract Document 00670, Escrow Bid Documents.
6. Deliver to the City’s insurance compliance contractor, Ebix BPO, all of the required Certificate(s) of Insurance showing proof that all of the required insurance policies, as well as all of the required policy endorsements, have been purchased and properly completed. Also, please provide a written indication that the required insurance company ratings have been met, as set forth in Contract Document 00820, Insurance Requirements. Please forward all insurance compliance information to:
City of Santa Clara Public Works Department
c/o Ebix BPO - Insurance Compliance
P.O. 12010-S2 (or for courier delivery): (or via email delivery):
Hemet, CA 92546-8010 1 Ebix Way [email protected]
Telephone: (951) 766-2280 Johns Creek, GA 30097
Fax: (770) 325-0409
NOTE: Please do not send the insurance compliance documents to the City offices. Doing so will only delay the necessary review and the issuance of the Notice to Proceed.
IMPORTANT: Please note that failure to comply with any of the above referenced conditions within the time period specified above will entitle City, at its sole discretion, to: 1) consider your Bid abandoned; 2) annul this Notice of Award; and/or 3) declare your Bid security forfeited. Even if the City does not choose to exercise any of these options, any delay in providing said documentation beyond the deadline indicated above will not extend the Contract Time allowed for performing the Work as set forth in the Contract Documents. Any time delay caused by failure to comply with the required documentation set forth in this Notice of Award will be subtracted from the time allowed to perform the Work as specified in Document 00520, Agreement, of the Contract Documents.
After a Notice to Proceed has been issued and upon commencement of the Work under this Contract, your firm, and each of your subcontractors, must certify and make available for inspection, payroll records on forms provided by the Division of Labor Standards Enforcement, in accordance with Section 1776 of the California Labor Code. Your firm and your subcontractors must furnish electronic certified payroll records directly to the Labor Commissioner (aka Division of Labor Standards Enforcement).
After you have complied with the conditions of this Document 00510, Notice of Award, the City will provide one fully signed copy of Contract Document 00520, Agreement, to you for your records.
Once again, congratulations on being awarded this Contract. We look forward to working with your firm on this Project. If you have any questions regarding this Notice of Award, please contact HUY NGUYEN, in the Public Works Department at 1+(408) 615-3073.
Sincerely,
________________________
NORA PIMENTEL, MMC, Assistant City Clerk
City of Santa Clara, California,
a chartered California municipal corporation
END OF DOCUMENT
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00520 - 1 Agreement
DOCUMENT 00520
AGREEMENT
City of Santa Clara Contract Number CE 25-26-01
Project Title: INTERNATIONAL SWIM CENTER REHABILITATION PHASE 1 PROJECT
PREAMBLE
This Agreement (“Agreement”) is made and entered into on this______ day of ____________, 202__, (the “Effective Date”) by and between International Swim Center-2026, a limited liability company, with its primary business address located at 3675 Old Santa Rita Rd., Pleasanton, CA 94588 (“Contractor”), and the City of Santa Clara, California, a chartered California municipal corporation, with its primary business address at 1500 Warburton Avenue, Santa Clara, California 95050 (“City”). City and Contractor may be referred to herein individually as a “Party” or collectively as the “Parties” or the “Parties to this Agreement.”
The Parties agree as follows:
AGREEMENT PROVISIONS
Article 1. Work
1.1 Contractor shall complete all Work specified in the Contract Documents, in accordance with the Specifications, Drawings, and all other terms and conditions included in the Contract Documents.
Article 2. Agency and Notices to City
2.1 City has designated the City Engineer or his/her designee to act as City’s Representative(s), who will represent City in performing City’s duties and responsibilities and exercising City’s rights and authorities in Contract Documents. City may change the individual(s) acting as City’s Representative(s), or delegate one or more specific functions to one or more specific City’s Representatives, including without limitation engineering, architectural, inspection and general administrative functions, at any time with notice and without liability to Contractor. Each City Representative is the beneficiary of all Contractor obligations to City, including without limitation, all releases and indemnities.
2.2 City has designated the City Engineer or his/her designee to act as Construction Manager. City may assign all or part of the City Representative’s rights, responsibilities and duties to Construction Manager. City may change the identity of the Construction Manager at any time with notice and without liability to Contractor.
2.3 City has designated LPA, Inc. to act as Consulting Engineers. City may change the identity of the Consulting Engineer(s) at any time with notice and without liability to Contractor.
2.4 All notices or demands to City under the Contract Documents shall be delivered to the City’s Representative at 1500 Warburton Avenue, Santa Clara, California 95050, or to such other person(s) and address(es) as City shall provide to Contractor.
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
Rev. 06/08/12 00520 - 2 Agreement
Article 3. Contract Time and Liquidated Damages
3.1 Contractor shall commence Work at the Site on the date established in Document 00550, Notice to Proceed. The City reserves the right to modify or alter the Commencement Date of the Work due to the need to complete other City provided work at the Site. Contractor shall complete the Work within the following Schedule reflecting the date the Contract Time commences to run as set forth in Document 00550, Notice to Proceed, and Document 00700, General Conditions:
3.1.1 The Work shall reach Substantial Completion within two hundred eighty (280) Working Days from the date when the Contract Time commences to run.
3.1.2 The Work shall reach Final Completion within three hundred (300) Working Days from the date when the Contract Time commences to run.
3.2 Liquidated Damages.
City and Contractor recognize that time is of the essence of this Agreement and that City will suffer financial loss in the form of lost revenues, contract administration expenses (including project management and consultants' expenses), delay and loss of public use, if all or any part of the Work is not completed within the time specified in paragraph 3.1 above plus any extensions thereof allowed in accordance with the Contract Documents. Consistent with Article 15 of Document 00700, General Conditions, Contractor and City agree that because of the nature of the Project, it would be impractical or extremely difficult to fix the amount of actual damages incurred by City because of a delay in completion of all or any part of the Work.
Accordingly, City and Contractor agree that as liquidated damages for delay, Contractor shall pay City:
3.2.1 $1,000 for each Day that expires after the time specified herein for Contractor to achieve Substantial Completion, until the Work reaches Substantial Completion.
3.2.2 $1,000 for each Day that expires after the time specified herein for Contractor to achieve Final Completion, until the Work reaches Final Completion.
These measures of liquidated damages shall apply cumulatively and shall be presumed to be, except as provided herein, the damages suffered by City resulting from the delay in completion of the Work.
3.3 Liquidated damages for delay shall only cover administrative, overhead, interest on bonds, and general loss of public use damages suffered by City as a result of delay. Liquidated damages shall not cover the cost of completion of the Work, damages resulting from defective work, lost revenues or costs of substitute facilities, or damages suffered by others who then seek to recover their damages from City (for example, delay claims of other contractors, subcontractors, tenants, or other third-parties), and defense costs thereof.
Article 4. Total Contract Price
4.1 City shall pay Contractor the Contract Sum for completion of Work in accordance with Contract Documents as shown on the Contractor’s Bid, Document 00400, incorporated by this reference.
4.2 The Contract Sum is all inclusive and includes all Work; all federal, state, and local taxes on materials and equipment, and labor furnished by Contractor, its subcontractors, subconsultants, International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
Rev. 06/08/12 00520 - 3 Agreement
architects, engineers, and vendors or otherwise arising out of Contractor's performance of the Work, including any increases in any such taxes during the term of this Agreement; and any duties, fees, and royalties imposed with respect to any materials and equipment, labor or services. The taxes covered hereby include (but are not limited to) occupational, sales, use, excise, unemployment, FICA, and income taxes, customs, duties, and any and all other taxes on any item or service that is part of the Work, whether such taxes are normally included in the price of such item or service or are normally stated separately. Notwithstanding the foregoing, each party shall bear such state or local inventory, real property, personal property or fixtures taxes as may be properly assessed against it by applicable taxing authorities.
Article 5. Contractor's Representations and Warranties
In order to induce City to enter into this Agreement, Contractor makes the following representations and warranties:
5.1 Contractor has visited the Site and has examined thoroughly and understood the nature and extent of the Contract Documents, Work, Site, locality, actual conditions, as-built conditions, and all local conditions and federal, state and local laws and regulations that in any manner may affect cost, progress, performance or furnishing of Work or which relate to any aspect of the design and the means, methods, techniques, sequences or procedures of construction to be employed by Contractor and safety precautions and programs incident thereto.
5.2 Contractor has examined thoroughly and understood all reports of exploration and tests of subsurface conditions, as-built drawings, drawings, product specifications or reports, available for Bidding purposes, of physical conditions, including Underground Facilities, which are identified in Document 00320, Geotechnical Data and Existing Conditions, which may be apparent at the Site, or which may appear in the Drawings and accepts the determination set forth in these documents and Document 00700, General Conditions of the limited extent of the information contained in these documents and materials upon which the Contractor may be entitled to rely. Contractor agrees that except for the information so identified, Contractor does not and shall not rely on any other information contained in these documents, reports and drawings.
5.3 Contractor has conducted or obtained and has understood all such examinations, investigations, explorations, tests, reports and studies (in addition to or to supplement those referred to in Section 5.2 of this Document 00520) that pertain to the subsurface conditions, as- built conditions, Underground Facilities and all other physical conditions at or contiguous to the Site or otherwise that may affect the cost, progress, performance or furnishing of Work, as Contractor considers necessary for the performance or furnishing of Work at the Contract Sum, within the Contract Time and in accordance with the other terms and conditions of the Contract Documents, including specifically the provisions of Document 00700, General Conditions; and no additional examinations, investigations, explorations, tests, reports, studies or similar information or data are or will be required by Contractor for such purposes.
5.4 Contractor has correlated its knowledge and the results of all such observations, examinations, investigations, explorations, tests, reports and studies with the terms and conditions of the Contract Documents.
5.5 Contractor has given City prompt written notice of all conflicts, errors, ambiguities, or discrepancies that it has discovered in or among the Contract Documents and as-built drawings and actual conditions and the written resolution thereof through Addenda issued by City is acceptable to Contractor. 5.6 Contractor is duly organized, existing and in good standing under applicable state law, and is duly qualified to conduct business in the State of California.
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
Rev. 06/08/12 00520 - 4 Agreement
5.7 Contractor has duly authorized the execution, delivery and performance of this Agreement, the other Contract Documents and the Work to be performed herein. The Contract Documents do not violate or create a default under any instrument, agreement, order or decree binding on Contractor.
Article 6. Contract Documents
6.1 Contract Documents, which comprise the entire agreement between the City and Contractor concerning the Work, consist of the following documents, including all changes, Addenda and Modifications thereto:
CONTRACT DOCUMENTS
Division 0 - GENERAL PROVISIONS.
Division 1 - GENERAL REQUIREMENTS.
Division 2 - TECHNICAL PROVISIONS.
Division 3 and above -
SPECIAL PROVISIONS.
Plans
6.2 There are no Contract Documents other than those listed above in this Article 6. The information supplied under Document 00320, Geotechnical Data and Existing Conditions, is not part of the Contract Documents. The Contract Documents may only be amended, modified or supplemented as provided in Document 00700, General Conditions.
Article 7. Miscellaneous
7.1 Terms used in this Agreement are defined in Document 00700, General Conditions, and Section 00050, References and Definitions, and will have the meaning indicated therein.
7.2 It is understood and agreed that in no instance is any person, signing this Agreement for or on behalf of City or acting as an employee, agent or representative of City, liable on this Agreement or any of the Contract Documents, or upon any warranty of authority, or otherwise, and it is further understood and agreed that liability of the City is limited and confined to such liability as authorized or imposed by the Contract Documents or applicable law.
7.3 Contractor shall not assign any portion of the Contract Documents, and may subcontract portions of the Contract Documents only in compliance with the Subcontractor Listing Law, California Public Contracting Code §4100 et seq.
7.4 The Contract Sum includes all allowances (if any).
7.5 In entering into a public works contract or a subcontract to supply goods, services or materials pursuant to a public works contract, Contractor or Subcontractor offers and agrees to assign to the awarding body all rights, title and interest in and to all causes of action it may have under Section 4 of the Clayton Act (15 U.S.C. §15) or under the Cartwright Act (Chapter 2 (commencing with Section 16700) of Part 2 of Division 7 of the Business and Professions Code), arising from purchases of goods, services or materials pursuant to the public works contract or the subcontract. This assignment shall be made and become effective at the time City tenders final payment to Contractor, without further acknowledgment by the parties.
7.6 Copies of the general prevailing rates of per diem wages for each craft, classification, or type of worker needed to execute the Contract, as determined by Director of the State of California Department of Industrial Relations, are deemed included in the Contract Documents, and are on International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
Rev. 06/08/12 00520 - 5 Agreement
file in the City Clerk’s Office, and shall be made available to any interested party on request.
Pursuant to Section 1861 of the Labor Code, Contractor represents that it is aware of the provisions of Section 3700 of the Labor Code which require every employer to be insured against liability for workers’ compensation or to undertake self-insurance in accordance with the provisions of that Code, and Contractor shall comply with such provisions before commencing the performance of the Work of the Contract Documents.
7.7 Should any part, term or provision of this Agreement or any of the Contract Documents, or any document required herein or therein to be executed or delivered, be declared invalid, void or unenforceable, all remaining parts, terms and provisions shall remain in full force and effect and shall in no way be invalidated, impaired or affected thereby. If the provisions of any law causing such invalidity, illegality or unenforceability may be waived, they are hereby waived to the end that this Agreement and the Contract Documents may be deemed valid and binding agreements, enforceable in accordance with their terms to the greatest extent permitted by applicable law. In the event any provision not otherwise included in the Contract Documents is required to be included by any applicable law, that provision is deemed included herein by this reference (or, if such provision is required to be included in any particular portion of the Contract Documents, that provision is deemed included in that portion).
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International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01 Rev. 06/08/12 00520 - 6 Agreement
7.8 This Agreement and the Contract Documents shall be deemed to have been entered into in the County of Santa Clara, State of California, and governed in all respects by California law (excluding choice of law rules). The exclusive venue for all disputes or litigation hereunder shall be in Santa Clara County. Both parties hereby waive their rights under California Code of Civil Procedure Section 394 to file a motion to transfer any action or proceeding arising out of the Contract Documents to another venue. Contractor accepts the Claims Procedure in Document 00700, Article 12, established under the California Government Code, Title 1, Division 3.6, Part 3, Chapter 5.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day first mentioned above.
CITY OF SANTA CLARA, CALIFORNIA,
a chartered California municipal corporation
Approved as to form:
_______________________________ ___________________________ Glen R. Googins Jōvan D. Grogan
City Attorney City Manager
1500 Warburton Avenue
Attest: Santa Clara, CA 95050
Telephone: 1+(408) 615-2210
Fax: 1+(408) 241-0347
_______________________________
NORA PIMENTEL, MMC
Assistant City Clerk
“City”
International Swim Center - 2026 a
Limited Liability Company
By: _______________________________
(Signature of Person executing the
Agreement on behalf of Contractor)
________________________________
(Please Print or Type Name)
Title: ________________________________
Local Address: 3675 Old Santa Rita Rd.
Pleasanton, CA 94588
Telephone: (925) 828-3100
Fax: (___)___-____
“Contractor”
END OF DOCUMENT
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00550 – 1 Notice to Proceed
DOCUMENT 00550
NOTICE TO PROCEED
Date: _________________, 202__
Name
Company
Address
City, State Zip-
Re: NOTICE TO PROCEED - INTERNATIONAL SWIM CENTER REHABILITATION PHASE 1
PROJECT
CE 25-26-01
Dear _________________:
In accordance with Paragraph 3 of Document 00700, General Conditions, this letter is your NOTICE TO PROCEED with the Work for the referenced Project.
Time will be charged on the Project beginning ______________________, 202__. Document 00520 provides two hundred eighty (280) Working Days to achieve Substantial Completion and three hundred (300) Working Days to achieve Final Completion. Refer to Document 00520 for interim completion requirements for sub-phases of work. The calculated date of Substantial Completion is _____________, 202__ and the calculated date of Final Completion is _____________, 202__.
Should the Work not be completed on time, liquidated damages are to be charged at the rate of $1,000 per Day up to Substantial Completion and $1,000 per Day up to Final Completion.
The City is interested in having a good working relationship with you and delivering a successful Project. If you need any assistance, please call me at 1+(408) 615-3061.
Sincerely,
Director of Public Works
By: Kaveh Forouhi
Principal Engineer – Field Services Division
cc:
_________________, PWI
END OF DOCUMENT
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00550 – 2 Notice to Proceed
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00610 - 1 Construction Performance Bond
DOCUMENT 00610
CONSTRUCTION PERFORMANCE BOND
This Construction Performance Bond (“Bond”), dated ___________________, 202__, is issued in the amount of twenty-four million five hundred eight thousand two hundred ninety-two Dollars, ($24,508,292), (the “Penal Sum “) which is equal to one hundred percent of the Contract Price, and is entered into by and between the Contractor and the Surety to ensure the faithful performance of the Construction Contract defined below. This Bond consists of this page and the Bond Terms and Conditions, Paragraphs 1 through 13, attached and incorporated by this reference. The Contractor and Surety are the parties to this Bond, which has been issued for the benefit of the City of Santa Clara, California, a chartered California municipal corporation (“City”) and in compliance with the terms of the Construction Contract. Any singular reference to the Contractor, Surety, City or other party shall be considered plural where applicable.
The City of Santa Clara Construction Contract to which this Bond applies is:
INTERNATIONAL SWIM CENTER REHABILITATION PHASE 1 PROJECT
City Contract Number: CE 25-26-01
In the Amount of $ 24,508,292 (Referred to as the “Total Contract Price”)
The Contractor and Surety each acknowledge and accept the terms and conditions of this Bond as evidenced by the following signatures of their representatives. The Contractor and Surety each specifically represent that the individual representatives who have signed below are duly authorized to execute this Bond on its behalf. It is the intent of the Parties that this Bond shall become operative on the date first set forth above.
CONTRACTOR AS PRINCIPAL: SURETY:
Name: Name:
Principal Place of Business: Principal Place of Business:
Address: Address:
City/State/Zip: City/State/Zip:
Signature: Signature:
Name: Name:
Title: Title:
(Please Note: Surety signature must be notarized)
(Please Apply Corporate Seal Here) (Please Apply Corporate Seal Here)
Approved as to Form:
___________________________________________ Date: _______________, 202__ City Attorney
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00610 - 2 Construction Performance Bond
BOND TERMS AND CONDITIONS
1. Contractor and Surety, jointly and severally, bind themselves, their heirs, executors, administrators, successors and assigns to City for the complete and proper performance of the Construction Contract, which is incorporated herein by reference.
2. If Contractor completely and properly perform s all of its obligations under the Construction Contract, Surety and Contractor shall have no obligation under this Bond.
3. If there is no City Default, Surety’s obligation under this Bond shall arise after:
3.1 City has declared a Contractor Default under the Construction Contract pursuant to the terms of the Construction Contract; and
3.2 City has agreed to pay the Balance of the Contract Price:
3.2.1 To Surety in accordance with the terms of this Bond and the Construction Contract; or
3.2.2 To a contractor selected to perform the Construction Contract in accordance with the terms of this Bond and the Construction Contract.
4. When City has satisfied the conditions of paragraph 3, Surety shall promptly (within 30 days) and at Surety’s expense elect to take one of the following actions:
4.1 Arrange for Contractor, with consent of City, to perform and complete the Construction Contract (but City may withhold consent, in which case the Surety must elect an option described in paragraphs 4.2, 4.3 or 4.4, below); or
4.2 Undertake to perform and complete the Construction Contract itself, through its agents or through independent contractors; provided, that Surety may not select Contractor as its agent or independent contractor without City’s consent; or
4.3 Undertake to perform and complete the Construction Contract by obtaining bids from qualified contractors acceptable to City for a contract for performance and completion of the Construction Contract, and, upon determination by City of the lowest responsible bidder, arrange for a contract to be prepared for execution by City and the contractor selected with City’s concurrence, to be secured with performance and payment bonds executed by a qualified surety equivalent to the bonds issued on the Construction Contract; and, if Surety’s obligations defined in paragraph 6, below, exceed the Balance of the Contract Price, then Surety shall pay to City the amount of such excess; or
4.4 Waive its right to perform and complete, arrange for completion, or obtain a new contractor and with reasonable promptness under the circumstances, and, after investigation and consultation with City, determine in good faith its monetary obligation to City under paragraph 6, below, for the performance and completion of the Construction Contract and, as soon as practicable after the amount is determined, tender payment therefore to City with full explanation of the payment’s calculation. If City accepts Surety’s tender under this paragraph 4.4, City may still hold Surety liable for future damages then unknown or unliquidated resulting from the Contractor Default. If City disputes the amount of Surety’s tender under this paragraph 4.4, City may exercise all remedies available to it at law to enforce Surety’s liability under paragraph 6, below.
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00610 - 3 Construction Performance Bond
5. If Surety does not proceed as provided in paragraph 4, above, then Surety shall be deemed to be in default on this Bond ten days after receipt of an additional written notice from City to Surety demanding that Surety perform its obligations under this Bond. At all times City shall be entitled to enforce any remedy available to City at law or under the Construction Contract including, without limitation, and by way of example only, rights to perform work, protect work, mitigate damages, advance critical work to mitigate schedule delay, or coordinate work with other consultants or contractors.
6. Surety’s monetary obligation under this Bond is limited by the Amount of this Bond identified herein as the Penal Sum. This monetary obligation shall augment the Balance of the Contract Price. Subject to these limits, Surety’s obligations under this Bond are commensurate with the obligations of Contractor under the Construction Contract. Surety’s obligations shall include, but are not limited to:
6.1 The responsibilities of Contractor under the Construction Contract for completion of the Construction Contract and correction of defective work;
6.2 The responsibilities of Contractor under the Construction Contract to pay liquidated damages, and for damages for which no liquidated damages are specified in the Construction Contract, actual damages caused by non-performance of the Construction Contract including, but not limited to, all valid and proper back-charges, offsets, payments, indemnities, or other damages;
6.3 Additional legal, design professional and delay costs resulting from Contractor Default or resulting from the actions or failure to act of the Surety under paragraph 4, above (but excluding attorney’s fees incurred to enforce this Bond).
7. No right of action shall accrue on this Bond to any person or entity other than City or its successors or assigns.
8. Surety hereby waives notice of any change, alteration or addition to the Construction Contract or to related subcontracts, purchase orders and other obligations, including changes of time.
Surety consents to all terms of the Construction Contract, including provisions on changes to the Contract. No extension of time, change, alteration, modification, deletion, or addition to the Contract Documents, or of the work required thereunder, shall release or exonerate Surety on this Bond or in any way affect the obligations of Surety on this Bond.
9. Any proceeding, legal or equitable, under this Bond shall be instituted in any court of competent jurisdiction where a proceeding is pending between City and Contractor regarding the Construction Contract, or in the courts of the County of Santa Clara, or in a court of competent jurisdiction in the location in which the work is located. Communications from City to Surety under paragraph 3.1 of this Bond shall be deemed to include the necessary agreements under paragraph 3.2 of this Bond unless expressly stated otherwise.
10. All notices to Surety or Contractor shall be mailed or delivered (at the address set forth on the signature page of this Bond), and all notices to City shall be mailed or delivered as provided in Document 00520, Agreement. Actual receipt of notice by Surety, City or Contractor, however accomplished, shall be sufficient compliance as of the date received at the foregoing addresses.
11. Any provision in this Bond conflicting with any statutory or regulatory requirement shall be deemed deleted herefrom and provisions conforming to such statutory requirement shall be deemed incorporated herein.
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00610 - 4 Construction Performance Bond
12. Definitions.
12.1 Balance of the Contract Price: The total amount payable by City to Contractor pursuant to the terms of the Construction Contract after all proper adjustments have been made under the Construction Contract, for example, deductions for progress payments made, and increases/decreases for approved modifications to the Construction Contract.
12.2 Construction Contract: The agreement between City and Contractor identified on the signature page of this Bond, including all Contract Documents and changes thereto.
12.3 Contractor Default: Material failure of Contractor, which has neither been remedied nor waived, to perform or otherwise to comply with the terms of the Construction Contract including, but not limited to, “default” or any other condition allowing a termination for cause as provided in Document 00700, General Conditions.
12.4 City Default: Material failure of City, which has neither been remedied nor waived, to pay Contractor progress payments due under the Construction Contract or to perform other material terms of the Construction Contract, if such failure is the cause of the asserted Contractor Default and is sufficient to justify Contractor termination of the Construction Contract.
13. Surety shall submit following documents along with this Construction Performance Bond:
13.1 Verification that Surety is admitted to transact surety business the State of California; and
13.2 Copy of Surety’s Certificate of authority issued by the insurance Commissioner of the State of California along with a statement that said Certificate has not been surrendered, revoked, cancelled, annulled or suspended.
END OF DOCUMENT
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
Rev. 11/22/16 00620 - 1 Construction Labor and Material Payment Bond
DOCUMENT 00620
CONSTRUCTION LABOR AND MATERIAL PAYMENT BOND
This Construction Labor And Material Payment Bond (“Bond”) dated ___________________,202__, is issued in the amount of twenty-four million five hundred eight thousand two hundred ninety-two Dollars ($24,508,292), (the “Penal Sum “) which is equal to one hundred percent of the Contract Price, and is entered into by and between the Contractor and the Surety to ensure the payment of claimants under the Construction Contract defined below. This Bond consists of this page and the Bond Terms and Conditions, Paragraphs 1 through 14, attached and incorporated by this reference. The Contractor and Surety are the parties to this Bond, which has been issued for the benefit of the City of Santa Clara, California, a chartered California municipal corporation (“City”) in compliance with the terms of the Construction Contract. Any singular reference to the Contractor, Surety, City or other party shall be considered plural where applicable.
The City of Santa Clara Construction Contract to which this Bond applies is:
INTERNATIONAL SWIM CENTER REHABILITATION PHASE 1 PROJECT
City Contract Number: CE 25-26-01
In the Amount of $ 24,508,292 (Referred to as the “Contract Price”)
The Contractor and Surety each acknowledge and accept the terms and conditions of this Bond as evidenced by the following signatures of their representatives. The Contractor and Surety each specifically represent that the individual representatives who have signed below are duly authorized to execute this Bond on its behalf. It is the intent of the Parties that this Bond shall become operative on the date first set forth above.
CONTRACTOR AS PRINCIPAL: SURETY:
Name: Name:
Principal Place of Business: Principal Place of Business:
Address: Address:
City/State/Zip: City/State/Zip:
Signature: Signature:
Name: Name:
Title: Title:
(Please Note: Surety signature must be notarized)
(Please Apply Corporate Seal Here) (Please Apply Corporate Seal Here)
Approved as to Form:
___________________________________________ Date: _________________ City Attorney
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
Rev. 11/22/16 00620 - 2 Construction Labor and Material Payment Bond
BOND TERMS AND CONDITIONS
1. Contractor and Surety, jointly and severally, bind themselves, their heirs, executors, administrators, successors and assigns to City and to Claimants, to pay for labor, materials and equipment furnished for use in the performance of the Construction Contract, which is incorporated herein by reference.
2. With respect to City, this obligation shall be null and void if Contractor:
2.1 Promptly makes payment, directly or indirectly, for all sums due Claimants; and
2.2 Defends, indemnifies and holds harmless City from all claims, demands, liens or suits by any person or entity who furnished labor, materials or equipment for use in the performance of the Construction Contact, provided City has promptly notified Contractor and Surety (at the address set forth on the signature page of this Bond) of any claims, demands, liens or suits and tendered defense of such claims, demands, liens or suits to Contractor and Surety, and provided there is no City Default.
3. With respect to Claimants, this obligation shall be null and void if Contractor promptly makes payment, directly or indirectly through its Subcontractors, for all sums due Claimants. If Contractor or its Subcontractors, however, fail to pay any of the persons named in Section 9100 of the California Civil Code, or amounts due under the Unemployment Insurance Code with respect to Work or labor performed under the Contract, or for any amounts required to be deducted, withheld, and paid over to the Employment Development Department from the wages of employees of Contractor or Subcontractors pursuant to Section 13020 of the Unemployment Insurance Code, with respect to such Work and labor, then Surety shall pay for the same, and also, in case suit is brought upon this Bond, a reasonable attorney’s fee, to be fixed by the court.
4. Consistent with the California Civil Code §8000, et seq ., Surety shall have no obligation to Claimants under this Bond unless the Claimant has satisfied all applicable notice requirements.
5. Surety’s total obligation shall not exceed the amount of this Bond, and the amount of this Bond shall be credited for any payments made in good faith by Surety under this Bond.
6. Amounts due Contractor under the Construction Contract shall be applied first to satisfy claims, if any, under any Construction Performance Bond and second, to satisfy obligations of Contractor and Surety under this Bond.
7. City shall not be liable for payment of any costs, expenses, or attorney’s fees of any Claimant under this Bond, and shall have under this Bond no obligations to make payments to, give notices on behalf of, or otherwise have obligations to Claimants under this Bond.
8. Surety hereby waives notice of any change, including changes of time, to the Construction Contract or to related subcontracts, purchase orders and other obligations. Surety further hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Construction Contract, or to the Work to be performed thereunder, or materials or equipment to be furnished thereunder or the Specifications accompanying the same, shall in any way affect its obligations under this Bond, and it does hereby waive any requirement of notice or any such change, extension of time, alteration or addition to the terms of the Construction Contract or to the Work or to the Specifications or any other changes.
9. Suit against Surety on this Bond may be brought by any Claimant, or its assigns, at any time after the Claimant has furnished the last of the labor or materials, or both, but, per Civil Code International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
Rev. 11/22/16 00620 - 3 Construction Labor and Material Payment Bond
§9558, must be commenced before the expiration of six months after the period in which stop notices may be filed as provided in Civil Code §9356.
10. All notices to Surety or Contractor shall be mailed or delivered (at the address set forth on the signature page of this Bond), and all notices to City shall be mailed or delivered as provided in Document 00520, Agreement. Actual receipt of notice by Surety, City or Contractor, however accomplished, shall be sufficient compliance as of the date received at the foregoing addresses.
11. This Bond has been furnished to comply with the California Civil Code §§9550, 9554, et seq.
Any provision in this Bond conflicting with said statutory requirements shall be deemed deleted herefrom and provisions conforming to such statutory or other legal requirements shall be deemed incorporated herein. The intent is that this Bond shall be construed as a statutory bond and not as a common law bond.
12. Upon request by any person or entity appearing to be a potential beneficiary of this Bond, Contractor shall promptly furnish a copy of this Bond or shall permit a copy to be made.
13. Definitions.
13.1 Claimant: An individual or entity having a direct contract with Contractor or with a Subcontractor of Contractor to furnish labor, materials or equipment for use in the performance of the Contract, as further defined in California Civil Code §9100. The intent of this Bond shall be to include without limitation in the terms “labor, materials or equipment” that part of water, gas, power, light, heat, oil, gasoline, telephone service or rental equipment used in the Construction Contract, architectural and engineering services required for performance of the Work of Contractor and Contractor’s Subcontractors, and all other items for which a stop notice might be asserted. The term Claimant shall also include the Employment Development Department as referred to in Civil Code §9554(b).
13.2 Construction Contract: The agreement between City and Contractor identified on the signature page of this Bond, including all Contract Documents and changes thereto.
13.3 City Default: Material failure of City, which has neither been remedied nor waived, to pay the Contractor as required by the Construction Contract, provided that failure is the cause of the failure of Contractor to pay the Claimants and is sufficient to justify termination of the Construction Contract.
14. Surety shall submit following documents alon g with this Construction Labor and Material Payment Bond:
14.1 Verification that Surety is admitted to transact surety business the State of California; and
14.2 Copy of Surety’s Certificate of authority issued by the insurance Commissioner of the State of California along with a statement that said Certificate has not been surrendered, revoked, cancelled, annulled or suspended.
END OF DOCUMENT
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
Rev. 11/22/16 00620 - 4 Construction Labor and Material Payment Bond
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00630 - 1 Guaranty
DOCUMENT 00630
GUARANTY
TO THE CITY OF SANTA CLARA, a chartered Municipal Corporation of the State of California (“City”), for construction of:
INTERNATIONAL SWIM CENTER REHABILITATION PHASE 1 PROJECT
SANTA CLARA, CALIFORNIA
1. The undersigned guarantees all construction performed on this Project and also guarantees all material and equipment incorporated therein.
2. Contractor hereby grants to City for a period of one (1) year following the date of Final Completion, or such longer period specified in the Contract Documents, its unconditional warranty of the quality and adequacy of all of the Work including, without limitation, all labor, materials and equipment provided by Contractor and its Subcontractors of all tiers in connection with the Work.
3. Neither final payment nor use or occupancy of the Work performed by the Contractor shall constitute an acceptance of Work not done in accordance with this Guaranty or relieve Contractor of liability in respect to any express warranties or responsibilities for faulty materials or workmanship. Contractor shall remedy any defects in the Work and pay for any damage resulting therefrom, which shall appear within one (1) year, or longer if specified in the Contract Documents, from the date of Final Completion.
4. If within one (1) year after the date of Final Completion, or such l onger period of time as may be prescribed by laws or regulations, or by the terms of Contract Documents, any Work is found to be defective, Contractor shall promptly, without cost to City and in accordance with City’s written instructions, correct such defective Work. Contractor shall remove any defective Work rejected by City and replace it with Work that is not defective, and satisfactorily correct or remove and replace any damage to other Work or the work of others resulting therefrom. If Contractor fails to promptly comply with the terms of such in structions, or in an emergency where delay would cause serious risk of loss or damage, City may have the defective Work corrected or the rejected Work removed and replaced. Contractor shall pay for all claims, costs, losses and damages caused by or resulting from such removal and replacement. Where Contractor fails to correct defective Work, or defects are discovered outside the correction period, City shall have all rights and remedies granted by law.
5. Inspection of the Work shall not relieve Contractor of any of its obligations under the Contract Documents. Even though equipment, materials, or Work required to be provided under the Contract Documents have been inspected, accepted, and estimated for payment, Contractor shall, at its own expense, replace or repair any such equipment, material, or Work found to be defective or otherwise not to comply with the requirements of the Contract Documents up to the end of the guaranty period.
6. All abbreviations and definitions of terms used in this Agreement shall have the meanings set forth in the Contract Documents, including, without means of limitation, Section 00050, References and Definitions.
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01 00630 - 2 Guaranty
7. The foregoing Guaranty is in addition to any other warranties of Contractor contained in the Contract Documents, and not in lieu of, any and all other liability imposed on Contractor under the Contract Documents and at law with respect to Contractor’s duties, obligations, and performance under the Contract Documents. In the event of any conflict or inconsistency between the terms of this Guaranty and any warranty or obligation of the Contractor under the Contract Documents or at law, such inconsistency or conflict shall be resolved in favor of the higher level of obligation of the Contractor.
International Swim Center - 2026,
a Limited Liability Company
By: _______________________________
(Signature of Person authorized to sign Date
on behalf of Contractor)
________________________________
(Please Print or Type Name)
________________________________
Title
Local Address: ________________________________________ ________________________________________
________________________________________
Telephone: (_____) _____-________
Fax: (_____) _____-________
END OF
DOCUMENT
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00650 - 1 Agreement and Release of Any and All Claims
DOCUMENT 00650
AGREEMENT AND RELEASE OF ANY AND ALL CLAIMS
THIS AGREEMENT AND RELEASE OF ANY AND A LL CLAIMS (“Agreement and Release”), is made and entered into on this _______ day of ____________________, 202__, (the “Effective Date”), by and between the City of Santa Clara, California, a chartered California municipal corporation, whose primary place of business is located at 1500 War burton Avenue, Santa Clara, CA 95050 (“City”), and *[insert Consultant’s name], a *[choose one: corporation/partnership/individual], whose primary place of business is located at *[insert Consultant’s address] (“Contractor”). City and Contractor may be referred to in this Agreement and Release individually as a “Party” or collectively as the “Parties” or the “Parties to this Agreement and Release.”
RECITALS
A. City and Contractor entered into Contract Number CE 25-26-01 (the “Contract”).
B. The Work under the Contract has been completed.
Now, therefore, it is mutually agreed between City and Contractor as follows:
AGREEMENT
1. Contractor will not be assessed liquidated damages except as detailed below:
Original Contract Sum $ ___________________________________
Modified Contract Sum $ ___________________________________
Payment to Date $ ___________________________________
Liquidated Damages $ ___________________________________
Payment Due Contractor $ ___________________________________
2. Subject to the provisions of this Agreement and Release, City will forthwith pay to Contractor the sum of $_______________________________________________ Dollars and __________ Cents ($_________________) under the Contract, less any amounts withheld under the Contract or represented by any Notice to Withhold Funds on file with City as of the date of such payment.
3. Contractor acknowledges and hereby agrees that there are no unresolved or outstanding claims in dispute against City arising from the Contract, except for the claims described in paragraph 4 of this Document 00650. It is the intention of the parties in executing this Agreement and Release that this Agreement and Release shall be effective as a full, final and general release of all claims, demands, actions, causes of action, obligations, costs, expenses, damages, losses and liabilities of Contractor against City, and all of its agents, employees, consultants (including without limitation Consulting Engineer), inspectors, representatives, assignees and transferees except for the Disputed Claims set forth in paragraph 4 of this Document 00650. Nothing in this Agreement and Release shall limit or modify C ontractor’s continuing obligations described in paragraph 6 of this Document 00650.
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
Rev. 08/10/11 00650 - 2 Agreement and Release of Any and All Claims
4. The following claims are disputed (hereinafter, the “Disputed Claims”) and are specifically excluded from the operation of this Agreement and Release:
Claim No. Date Submitted Description of Claim Amount of Claim
[Insert information, including attachment if necessary]
5. Consistent with California Public Contract Code Section 7100, Contractor hereby agrees that, in consideration of the payment set forth in paragraph 2 of this Document 00650, Contractor hereby releases and forever discharges City, and all of its agents, employees, consultants, inspectors, assignees and transferees from any and all liability, claims, demands, actions or causes of action of whatever kind or nature arising out of or in any way concerned with the Work under the Contract.
6. Guarantees and warranties for the Work, and any other continuing obligation of Contractor, shall remain in full force and effect as specified in the Contract Documents.
7. Contractor shall immediately defend, indemnify and hold harmless the City and all City Representatives, Engineers, agents, employees, consultants, inspectors, assignees and transferees from any and all claims, demands, acti ons, causes of action, obligations, costs, expenses, damages, losses and liabilities that may be asserted against them by any of Contractor’s suppliers and/or Subcontractors of any tier and/or any suppliers to them for any and all labor, materials, supplies and equipment used, or contemplated to be used in the performance of the Contract, except for the Disputed Claims set forth in paragraph 4 of this Document 00650.
8. Contractor hereby waives the provisions of California Civil Code Section 1542, which provides as follows:
A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him, must have materially affected his settlement with the debtor.
9. The provisions of this Agreement and Release are contractual in nature and not mere recitals and shall be considered independent and severable, and if any such provision or any part thereof shall be at any time held invalid in whole or in part under any federal, state, county, municipal or other law, ruling, or regulation, then such provision, or part thereof shall remain in force and effect only to the extent permitted by law, and the remaining provisions of this Agreement and Release shall also remain in full force and effect, and shall be enforceable.
10. Contractor represents and warrants that it is the true and lawful owner of all claims and other matters released pursuant to this Agreement and Release, and that it has full right, title and authority to enter into this instrument. Each party represents and warrants that it has been represented by counsel of its own choosing in connection with this Agreement and Release.
11. All rights of City shall survive completion of the Work or termination of the Contract, and execution of this Agreement and Release.
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
Rev. 06/08/12 00650 - 3 Agreement and Release of Any and All Claims
* * * CAUTION: THIS IS A RELEASE - READ BEFORE EXECUTING * * *
The Parties acknowledge and accept the terms and conditions of this Agreement as evidenced by the following signatures of their duly authorized representatives. It is the intent of the Parties that this Agreement shall become operative on the Effective Date.
“Contractor”
By: ________________________________________________
Name: ________________________________________________
Its: ________________________________________________
By: ________________________________________________
Name: ________________________________________________
Its: ________________________________________________
Local Address: _________________________________________ _________________________________________
Telephone: (____) ____ – _________
Fax: (____) ____ – _________
“City”
CITY OF SANTA CLARA, CALIFORNIA,
a chartered California municipal corporation
Approved as to form:
_______________________________ ___________________________ City of Santa Clara Office of the City Manager
Office of the City Attorney City Manager
1500 Warburton Avenue
Attest: Santa Clara, CA 95050
Telephone: 1+(408) 615-2210
Fax: 1+(408) 241-0347
_______________________________
NORA PIMENTEL, MMC
Assistant City Clerk
Date: __________________________, 202__
END OF DOCUMENT
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00650 - 4 Agreement and Release of Any and All Claims
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00654-1 Workers Compensation Insurance Statement
DOCUMENT 00654
WORKERS’ COMPENSATION INSURANCE STATEMENT
TO: The City of Santa Clara, California, 1500 Warburton Avenue, Santa Clara, CA 95050
Contractor hereby states the following:
1. California Labor Code Section 1861
Certification by Contractor regarding Workers’ Compensation Insurance Requirements
I am aware of the provisions of Section 3700 of the Labor Code of the State of California, which require every employer to be insured against liability for workers’ compensation or to undertake self-insurance in accordance with the provisions of that Code, and I will comply with such provisions before commencing the performance of the Work under this Contract.
2. California Labor Code Section 3800
Declaration verifying Workers’ Compensation Insurance Coverage
In the event the Contractor is determined to be the lowest responsible and responsive bidder and is awarded this Contract by the City, Contractor shall verify under penalty of perjury, and provide evidence or confirmation of the existence and status of its Workers’ Compensation Insurance Policy. Such information shall be provided by the Contractor in a form acceptable to the City Attorney or the City’s insurance compliance representatives within the time period specified in Document 00510, Notice of Award, and shall include, but not be limited to, evidence or confirmation of the following:
a. The Contractor has purchased and is maintaining a valid Workers’ Compensation Insurance Policy in a form approved by the California Insurance Commissioner, and that said Workers’ Compensation Insurance Policy is in full force and effect on behalf of the Contractor;
b. The full deposit premium on the policy has been paid;
c. The coverage afforded to the Contractor under its Workers’ Compensation Insurance Policy is in accordance with the Workers’ Compensation Law of California and complies with California statutory limits;
d. Verification of the expiration date of the Contractor’s Workers’ Compensation Insurance Policy;
e. Advance written notice shall be given to the Ci ty in the event of cancellation of the policy.
The undersigned shall provide such notice to the City of Santa Clara, within the time period specified in Document 00820, Insurance Requirements; and
///
///
///
///
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00654-2 Workers Compensation Insurance Statement
f. The policy includes a Waiver of Subrogation in favor of the City of Santa Clara, its City Council, commissions, officers, employees, volunteers and agents.
Contractor: ________________________________________________ Contractor’s Signature
Note: Signature of the Contractor must be notarized
By: ________________________________________
Print/Type Name of Signatory
Its: ________________________________________
Title of Signatory
Signed this _______ day of __________________________, 202__.
END OF DOCUMENT
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00680 - 1 Escrow Agreement for Security
Deposits in Lieu of Retention
DOCUMENT 00680
ESCROW AGREEMENT FOR SECURITY DEPOSITS IN LIEU OF RETENTION P.C.C. §22300
THIS ESCROW AGREEMENT (“Escrow Agreement”) is made and entered into on this _____ day of __________, 201__, by and between the CITY OF SANTA CLARA, a chartered Municipal Corporation of the State of California (hereinafter “City”), whose address is 1500 Warburton Avenue, Santa Clara, California 95050; ________________________ (“Contractor”), whose place of business is located at ______________________________________; and [City, as escrow agent …OR… [_____] , a state or federally chartered bank in the State of California, whose place of business is located at ________________________________] (“Escrow Agent”).
For the consideration hereinafter set forth, City, Contractor and Escrow Agent agree as follows:
1. Pursuant to Section 22300 of Public Contract Code of the State of California, Contractor has the option to deposit securities with Escrow Agent as a substitute for retention earnings required to be withheld by City pursuant to Contract Number CE 25-26-01 entered into between City and Contractor for the INTERNATIONAL SWIM CENTER REHABILITATION PHASE 1 PROJECT in the amount of [_______] dated [_______, 202__] (the “Contract”). Alternatively, on written request of Contractor, City shall make payments of the retention earnings directly to Escrow Agent. When Contractor deposits the securities as a substitute for Contract earnings, Escrow Agent shall notify City within ten Days of the deposit. The market value of the securities at the time of substitution shall be at least equal to the cash amount then required to be withheld as retention under terms of Contract between City and Contractor. Securities shall be held in name of _____________________, and shall designate Contractor as the beneficial owner.
2. City shall make progress payments to Contractor for those funds which otherwise would be withheld from progress payments pursuant to Cont ract provisions, provided that Escrow Agent holds securities in form and amount specified in paragraph 1 of this Document 00680.
3. When City makes payment(s) of retention earned directly to Escrow Agent, Escrow Agent shall hold said payment(s) for the benefit of Contractor until the time that the escrow created under this Escrow Agreement is terminated. Contract or may direct the investment of the payments into securities. All terms and conditions of this Escrow Agreement and the rights and responsibilities of the parties shall be equally applicable and binding when City pays Escrow Agent directly.
4. Contractor shall be responsible for paying all fees for the expenses incurred by Escrow Agent in administering the Escrow Account, and all expenses of City. Such expenses and payment terms shall be determined by City, Contractor, and Escrow Agent.
5. Interest earned on securities or money market accounts held in escrow and all interest earned on that interest shall be for sole account of Contractor and shall be subject to withdrawal by Contractor at any time and from time to time without notice to City.
6. Contractor shall have the right to withdraw all or any part of the principal in the Escrow Account only by written notice to Escrow Agent accompanied by written authorization from City to Escrow Agent that City consents to withdrawal of amount sought to be withdrawn by Contractor.
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00680 - 2 Escrow Agreement for Security
Deposits in Lieu of Retention
7. City shall have the right to draw upon the securities in event of default by Contractor. Upon seven Days written notice to Escrow Agent from City of the default, Escrow Agent shall immediately convert the securities to cash and shall distribute the cash as instructed by City.
8. Upon receipt of written notification from City certifying that the Contract is final and complete, and that Contractor has complied with all requirements and procedures applicable to the Contract, Escrow Agent shall release to Contractor all securities and interest on deposit less escrow fees and charges of the Escrow Account. The escrow shall be closed immediately upon disbursement of all moneys and securities on deposit and payments of fees and charges.
9. Escrow Agent shall rely on written notifications from City and Contractor pursuant to paragraphs 5 through 8, inclusive, of this Document 00680 and City and Contractor shall hold Escrow Agent harmless from Escrow Agent’s release and disbursement of securities and interest as set forth.
10. Names of persons who are authorized to give written notice or to receive written notice on behalf of City and on behalf of Contractor in connection with the foregoing, and exemplars of their respective are as follows:
ON BEHALF OF CITY: ON BEHALF OF CONTRACTOR:
_________________________________ _______________________________________ Title Title
_________________________________ _______________________________________ Name Name
_________________________________ _______________________________________ Signature Signature
_________________________________ _______________________________________ Address Address
_________________________________ _______________________________________ City/State/Zip City/State/Zip
ON BEHALF OF ESCROW AGENT:
_________________________________
Title
_________________________________
Name
_________________________________
Signature
_________________________________
Address
_________________________________
City/State/Zip
At the time the Escrow Account is opened, City and Contractor shall deliver to Escrow Agent a fully executed counterpart of this Document 00680.
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00680 - 3 Escrow Agreement for Security
Deposits in Lieu of Retention
IN WITNESS WHEREOF, the parties have exec uted this Escrow Agreement by their proper officers on the date first set forth above.
CITY: CONTRACTOR:
_________________________________ _______________________________________
_________________________________ _______________________________________ Title Title
_________________________________ _______________________________________ Name Name
_________________________________ _______________________________________ Signature Signature
ESCROW AGENT:
_________________________________
_________________________________
Title
_________________________________
Name
_________________________________
Signature
REVIEWED AS TO FORM:
_________________________________
City Attorney
___________________________, 202__
Date
END OF DOCUMENT
International Swim Center Rehabilitation Phase 1 Project CONTRACT NO. CE 25-26-01
00680 - 4 Escrow Agreement for Security
Deposits in Lieu of Retention