ARMSTRONG CAL BUILDERS, INC (BANNER BANK)

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(I])By signing this Agreement, Contractor is: (a) requesting Owner to make payment of retention earnings directly to Escrow Agent, (b) choosing not to deposit securities as a substitute,for retention earnings,and(c) agreeing not to direct the investment of payments of retention earnings into securities. The parties understand if Contractor desires to change any of the foregoing,the escrow will need to be transferred to a different escrow agent. (12)This Agreement may be executed in any number of counterparts, and by the different parties in separate counterparts, each of which when so executed and delivered shall be an original. The executed signature page(s) from each counterpart may be joined together with and attached as one such original and shall constitute one and the same instntment. This Agreement, to the extent signed and delivered by electronic means, shall be treated in all manner and respects as an original agreement and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. Both Parties agree that an electronic copy of this Agreement shall be deemed to be an original of this Agreement for all purposes. The Parties also agree that notice for all purposes under this Agreement may be made by electronic communications to the email addresses contained in this Agreement,or as updated by an applicable Party. At the time the escrow account is opened, the Owner and Contractor shall deliver to the Escrow Agent a fully executed counterpart of this Agreement. IN WITNESS WHEREOF,the parties have executed this Agreement by their proper officer on the date first set forth above. City of Santa Ana Armstrong Cal Builders,Inc. Title: Alvaro Nunez Tide: CEO City Manager Name: Z:7 20 Civic Center Plaza,Santa Ana,CA 92701 803i Main t , t u i,CA 90680 RECOMMENDED FOR APPROVAL ATTEST: 136......,"",--.:MIC ‘.... • r',1 i l�P�` elabil Saba,PE ► er t/ Executive Director. Public Works Agency APPROVED AS TO FORM: Title: Finance Director SONIA R.CARVALHO C'ityAttorney Name: Kathryn Downs Signature: /4/ -114-4r--C61-7-V-14,4 KyleNellesen 20 Civic Center Plaza,Santa Ana,CA 92701 Assistant City Attorney Escrow.4greeinenr—revised 3/20/2019 Page 3 of 3