Opening of Bids - Century Center Parking Lot Entry Gate Improvements Proj No 118-035A - Larson Danielson Construction - 2

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parties, increase the hourly contribution rate to any of the Trust Funds by decreasing rate for any of the other Trust Funds by the same amount. Any such changes shall not increase the total per hour amounts paid by employers. The Union shall promptly give notice to all contributing employers of any such changes. Section 9. Vacation: The Employer agrees to deduct the amount set forth under Article III — Section 1. Standard Wages. Section. 10. Liquidated Damages, Audit and Collection: A liquidated damages charge of fifteen percent (15%) is imposed for all delinquent payments of accounts required to be paid hereunder. A payment is considered delinquent if not received at the designated depository by the 20th day of the month following the end of the month when the work was performed. The parties agree that the Trustees of the Fund numerated herein have authority to alter the date upon which payments are considered delinquent and the liquidated damages percentage to be assessed. Payment of said' liquidated damages shall accompany the payment of the delinquent account. The parties acknowledge that the amount of administrative cost imposed by late payments is difficult to determine and that the fifteen (15%) percent liquidated late charge assessment is seasonable under the circumstances. In the event any Employer fails to pay fringe benefits as set forth in this Agreement, and/or fails to have sufficient funds in the bank to pay checks issued to the Employee's, the Union has the right to immediately withhold and withdraw the services of its members from such Employer. When an Employer becomes delinquent in the payment of fringe benefits, said Employer shall then be required to pay each individual Trust Fund on a weekly basis. These payments shall be mailed by certified mail to the respective fund offices. The Employer agrees to submit, upon request, all requested records to the trustees of the various funds or their designated agents or representatives for the purpose of conducting audits to determine the Employer's compliance with the terms of this Agreement and the various Trust Agreements. If found to be delinquent, the Employer is obligated to pay all audit costs, attorney fees, court costs and any and all other related costs incurred by the Funds in the audit and delinquency process. The parties acknowledge that the Trustees of the various funds applicable herein have full authority and discretion in the manner in which they audit contractors and collect delinquencies. ARTICLE IV MANAGEMENT RIGHTS EMPLOYER and UNION agree that the EMPLOYER shall, at all times during the term of this Agreement, retain the sole and exclusive right to manage the affairs of its