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% 4. In-consideration of the completion by you of the work herein described, and the fulfillment of all of the covenants, and ac ceptance by said Vice President or his representative, the Water Com­pany agrees*to pay to you the sum of TWO fljgOS&SU TWO m m w m B I G U n Dollars ( ) , plus actual cost • of premium on the Surety Bond^provided for in paragraph 12 hereof, Within a reasonable time-after the close of each week, the Water Company agrees to pay to you, upon presentation of your in­voice in triplicate, ninety percent (90$) of the value of' the work performed during the previous week. The ten percent (10$) retained shall be held by the Water Company as security for the completion of the work. Upon the completion of the work the ten percent (10$) re­tained may be paid to you immediately, or at the option of the Water Company, may be retained until the time allowed by law for the-filing of liens upon or against the said work shall have expired, and until all liens filed upon or against the work shall have been fully dis­charged by you. 5. Notwithstanding anything contained herein to the con­trary, you agree: To accept exclusive liability for the payment of any and all payroll taxes or contributions for unemployment in­surance or old age pensions or annuities which are measured by the wages, salaries or other remuneration paid to your employees. You further agree to reimburse the said Water Company for any of the aforesaid taxes and contributions which by law said Water Company may be required to pay, and to com­ply with all valid administrative regulations respecting the assumption of liability for the aforesaid contributions and the supplying of information to the proper designated authorities. 6. _ You shall indemnify and hold harmless the Water Company from and against any and all claims, demands, costs or expenses of whatsoever nature, arising from or growing out of injury to or death of any person or persons whomsoever, or damage to or destruction of property belonging to any person whomsoever resulting from or in any manner connected with the doing of the work to be performed by you under this letter agreement. 7. ^ You shall pay in full all persons who perform labor up­on said premises in connection with the said work, and shall not suf­fer any mechanic’s liens of any nature to be enforced against said premises for any such work, and shall indemnify and hold’harmless'the Water Company from and against any and all liens, claims, demands, costs or expenses of whatsoever nature in any way connected with or growing out of such work or labor performed. 2 .