Withholding for Maintenance Security. TxDOT shall retain from the Final Payment, and if it reasonably appears there will be insufficient funds at Final Payment, from progress payments, an amount equal to the initial penal sum of the Maintenance Performance Bond (regardless of whether DB Contractor intends to secure its maintenance obligations with letters of credit or bonds), calculated as of the date of Substantial Completion and in accordance with Section 3.2.3 of the CMA General Conditions (the “Retained Security Amount”), as security for the provision of the Maintenance Security required under Section 3.2 of the CMA General Conditions. DB Contractor shall have the option at any time to deliver an irrevocable letter of credit equal to the Retained Security Amount in lieu of the retained sums in a form and on terms acceptable to TxDOT in its sole discretion. TxDOT shall release the Retained Security Amount or letter of credit, as applicable, to DB Contractor upon the provision of the Maintenance Security required under Section 3.2 of the CMA General Conditions, which shall be no later than 14 days prior to the Initial Maintenance Term Commencement Date. In the event TxDOT does not receive the Maintenance Security required under Section 3.2 of the CMA General Conditions by the deadline set forth therein, DB Contractor shall forfeit as liquidated damages and not as a penalty such sums, or if a letter of credit is provided in lieu of retained amounts, TxDOT shall have the right to draw on the letter of credit. EXHIBIT 5 JOB TRAINING PLAN [To be replaced by the TxDOT-approved DB Contractor Job Training Plan] EXHIBIT 6 DBE PERFORMANCE PLAN [To be replaced by the TxDOT-approved DB Contractor DBE Performance Plan] [Insert DB Contractor Name Here] DBE Performance Plan & Subcontracting Plan Project: [Insert Project Name Here] Prepared by: [Insert Name Here] , [Insert title Here] Initial Draft: [Insert date here] Revision 1: [Insert date here] [Include additional revisions and dates, as applicable] TABLE OF CONTENTS Page 1. DEFINITIONS 4 2. POLICY STATEMENT 4 3. DISADVANTAGED BUSINESS ENTERPRISES (DBE) COMMITMENT 4
Withholding for Maintenance Security. TxDOT shall retain from the Final Payment (and, if it reasonably appears that the Final Payment will be insufficient for such purposes, from progress payments) the amount of $500,000 as security for the provision of the bonds required under Section 7.1 of the CMA. DB Contractor shall have the option, at any time, to deliver an irrevocable letter of credit in the amount of $500,000 in lieu of the retained sums in a form and on terms acceptable to TxDOT in its sole discretion. TxDOT shall release the $500,000 or the letter of credit, as applicable, to DB Contractor upon (a) the provision of the bonds required under Section 7.1 of the CMA within 60 days after TxDOT’s issuance of Maintenance NTP1 or (b) the election of TxDOT not to issue Maintenance NTP1 within 365 days after Final Acceptance. DB Contractor shall forfeit, as liquidated damages and not as a penalty, such sums (or, if a letter of credit is provided in lieu of retained amounts, TxDOT shall have the right to draw on the letter of credit) in the event that TxDOT does not receive the bonds required under Section 7.1 of the CMA by the deadline set forth therein.
Withholding for Maintenance Security. TxDOT shall retain from the Final Payment, and if it reasonably appears there will be insufficient funds at Final Payment, from progress payments, an amount equal to the initial amount of the Maintenance Performance Bond required pursuant to Section 3.3.3.3 of the CMA General Conditions (the “Retained Security Amount”) as security for the provision of the Maintenance Security required under Section 3.3 of the CMA General Conditions. DB Contractor shall have the option at any time to deliver an irrevocable letter of credit equal to the Retained Security Amount in lieu of the retained sums in a form and on terms acceptable to TxDOT in its discretion. TxDOT shall release the Retained Security Amount or letter of credit, as applicable, to DB Contractor upon the provision of the Maintenance Security required under Section 3.3 of the CMA General Conditions, which shall be no later than 120 days prior to the Initial Maintenance Term Commencement Date. In the event TxDOT does not receive the Maintenance Security required under Section 3.3 of the CMA General Conditions by the deadline set forth therein, DB Contractor shall forfeit as liquidated damages and not as a penalty such sums, or if a letter of credit is provided in lieu of retained amounts, TxDOT shall have the right to draw on the letter of credit. EXHIBIT 5 JOB TRAINING PLAN Texas Department of Transportation EXHIBIT 5 Execution Version I-2/I-69C Interchange Project Page 1 Design-Build Agreement Ex. 5 – Job Training Plan Exhibit 5 Job Training Plan Texas Department of Transportation Design-Build Contract by Dragados-Xxxxxx Joint Venture Table of Contents REVISIONS INDEX 3 Preface 4 Scope 4 Terms and Abbreviations 4 References 4
Withholding for Maintenance Security. In the event that the Maintenance Contractor has not provided the bonds and letter of credit required under Sections 7.1 and 7.2 of the CMA within 60 days after TxDOT’s issuance of Maintenance NTP1, then TxDOT shall be entitled to withhold from Developer’s progress payments an amount equal to the greater of (1) $25,000,000 or
