Interest Bearing Account. The City will deposit retainage checks in an interest-bearing account in a bank, mutual savings bank, or savings and loan association, not subject to withdrawal until after the final acceptance of the improvement or work as completed or until agreed to by both parties. Interest on the account will be paid to you.
Appears in 18 contracts
Samples: Sample Small Public Works Agreement, Sample Small Public Works Agreement, Sample Small Public Works Agreement
Interest Bearing Account. The City will deposit retainage checks in an interest-interest- bearing account in a bank, mutual savings bank, or savings and loan association, not subject to withdrawal until after the final acceptance of the improvement or work as completed or until agreed to by both parties. Interest on the account will be paid to you.
Appears in 8 contracts
Samples: Public Works Agreement, Public Works Agreement, Public Works Agreement
