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v: PNA (2) fLiLQgrdo ?UU 07) A-2025-21 NEAR 0 2 2026 ICON ESCROW AGREEMENT FOR SECURITY DEPOSITS IN LIEU OF RETENTION BUSINESS BAN K Cal. Pub. Contract Code§22300 This Escrow Agreement (this "Agreement") is entered into as of 01/30/2026 by and among Icon Business Bank, a California-chartered commercial bank having an office located at 3390 University Avenue, Suite 400, Riverside, California 92501 "Escrow Accent" or "Bank" and the parties identified in the following tables as "Owner' and "Contractor": OWNER; City of Santa Ana CONTRACTOR: Armstrong Cal Builders Street Address: 20 Civic Center Plaza Street Address: 8031 Main St. City Santa Ana City Stanton State CA State CA Zip Code 92701 Zip Code 90680 Telephone# 714-397-0759 Telephone# 657-332-2300 1. Pursuant to Section 22300 of the California Public Contracts Code, Contractor may elect to deposit securities with the Escrow Agent as a substitute for retention otherwise required to be withheld by the Owner under the following contract(the"Contract"); Contract No: ........... Project No. 24-6604 CIP No. ................... Project No. 24-6604 Dated. ..................... 12/02/2025 Original Amount:...... $6,627,620.00 In connection therewith, the Escrow Agent shall establish a non-interest-bearing or interest-bearing escrow account(the"Escrow Account")solely for the purposes expressly stated herein and shall act solely as a ministerial escrow holder, and not as a trustee, fiduciary, custodian,advisor, or investment manager, with no implied duties arising hereunder.The eligibility of securities under Section 22300, the sufficiency of their market value, and compliance with the requirements of the Contract and applicable law shall be the sole responsibility of the Owner and Contractor, and the Escrow Agent shall have no duty to verify, monitor, or confirm the same. Upon receipt of securities deposited by Contractor, the Escrow Agent shall provide written notice to the Owner within ten (10)days, subject to reasonable delays caused by settlement,custodial processing, or events beyond the Escrow Agent's control. Any securities deposited hereunder shall be held in the name of the Owner, with Contractor designated as the beneficial owner, and the Escrow Account shale be maintained as follows: Account No: ............ 2. The Owner shall make progress payments to the Contractor for amounts that would otherwise be withheld as retention under the Contract upon the Contractor's substitution of securities pursuant to this Agreement, and the Owner's determination that such substitution satisfies the requirements of the Contract and applicable law; provided, however, that the Escrow Agent's role is limited solely to holding the deposited securities in accordance with this Agreement and shall not be deemed to confirm, verify, or warrant the form, amount, sufficiency, or continued compliance of such securities for purposes of the Owner's payment obligations. 3, Alternatively, the Owner may remit retention amounts directly to the Escrow Agent for the benefit of the Contractor until the escrow established hereunder is terminated,with such payments made payable as follows: Payable to: .............. Armstrong Cal Rtjldpn� Inc FRO CC;"t of Santa Ana Account Name:........ Armstrong Cal Builders Inc FBO City of Santa Ana Account Number: .... Escrow Reference:.. Project No. 24-6604 Contractor may direct the investment of such funds into eligible securities as permitted under Section 22300(c) of the California Public Contracts Code, provided that all terms and conditions of this Agreement and the ©2026 Icon Business Bank.All rights reserved. Page 1 of 6