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CITY OF SANTA ANA <br />-PROPOSAL <br />PROJECT NO,; 18.6006 <br />EDINGPR AVE, AND ERISTOL ST, CLASS II BICYCLE I,ANES <br />FEDERAL PROJECT NO: [ISIPL 6003(180) <br />PROMPT PAYMENT dF FUNDS WITBULD TO SUBCONTRACTORS <br />The undersigned, is sulintitting this proposal for performing by contract the work requirod by these <br />bid dooumems, cart➢fy to comply with the following: <br />The agency shall hold retainage from the prime contractor And shall make, prompt and <br />regular incremental acceptances of portions, as determined by tine agency, Of the contract <br />work, -and pay retainage to the prime contractor based on these acceptances, The prime <br />contractor, or subcontractor, shall return all monies withheld in retention frame <br />sulacontractor within 30 trays after receiving payment for work satisfactorily completed <br />and accepted Including incremental acceptances of portions of the contract work by the <br />agency, Federal law (44CFRX29) requires that any delay or postponement of payment <br />over 30 days may take place only for good cause and with the Agency's prior written <br />approval, Any violation of this provision shall subject violating prime contractor or <br />subcontractor to the penalties, sanctions and other remedies specified hi Section 7108.5 <br />of the Business and Professions Code. These requirements shall not be construed to limit <br />or impair any contractual, administrative, oriodicial remedies otherwise available to the <br />prime contractor or subcontractor In the event of a dispute Involving late payment or <br />nonpayment by the prince contractor, deficient subcontract perfonhance, ar <br />noncompliance by a subcontractor, <br />Signed 1 �' <br />Title Edward J. Carlson, Vice President <br />Firm All American Asphalt r <br />Date `7 q <br />P•34 of P-40 <br />