Rider to Escrow/EPARIDER TO ESCROW AGREEMENT.
The parties hereto recognize that a portion of the
funds payable to the Contractor is being funded by the United
States Government through the Environmental Protection Agency.
The Owner therefore shall.not be obligated to place in escrow
retainage, funds which have not been collected from the
Environmental Protection Agency. The Owner represents that it
normally takes.six weeks after approval of ~he Contractor's
work by the Owner, before the Owner will be reimbursed from the
Environmental Protection Agency for its share of the funds due
for such work. The Owner agrees to use its best effort to
process applications for funds from the Environmental
Protection Agency and to cause such funds to be reimbursed as
early as practicable, but the Owner shall not be liable for any
delays beyond its control.
Nothing contained herein shall waive any rights or
obligations of either of the parties under the Contract for the
constructio~ of' Such sewers. The agreements herein contained
are~made only to clarify that the Owner shall not have the
obligation hereunder to escrow retainage payments which it in
good faith expects to receive from the Environmental Protection
Agency and for which it does not currently have funds on hand.
Dated this ~_~ day of ~, 1982.
Attest:
?
EAGLE VALLEY CONSTRUCTION CORP.
OF CARMEL