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3. mounds /Recaptures City agrees that any <br />retrospective premium returns (refunds) will be held in trust <br />until the final adjustment has been made for this plan year. <br />Any premium recaptures will be paid out of the trust fund. At <br />such time as the final adjustment has been made, distribution <br />will be made to participating cities using the formula shown <br />on Attachment A, attached hereto and made a part hereof. <br />Interest earned on the trust fund account will be <br />distributed, held, or applied toward administrative costs at <br />the direction of the participants. <br />4. Retrospective Penalties In the event <br />WCIA is assessed a penalty by Labor and Industries, group <br />members will be invoiced to a maximum of forty -five percent <br />(45 of their plan year premium. The formula for <br />retrospective penalties is shown on Attachment A, attached <br />hereto and made a part hereof. <br />5. Failure to Pay Failure of a city to <br />promptly pay its original premium to the Department, its pro <br />rata share of administrative expenses, or retrospective <br />penalty assessment entitles WCIA to withhold any monies <br />credited to city in the trust fund to satisfy city's debt. <br />City may be barred from participating in future retrospective <br />rating plans by two thirds vote of the plan year participating <br />cities without cause having to be stated or proven. <br />6. agency City hereby appoints WCIA to act <br />as its agent in matters pertaining to industrial insurance <br />pursuant to this Retrospective Rating Agreement. <br />7. Information _Weans City hereby <br />authorizes Department of Labor and Industries of the State of <br />Washington to release any and all information pertaining to <br />industrial insurance, experience, and files of the city to <br />WCIA. <br />8. Po Liability to State WCIA disclaims any <br />liability to the state for any premiums or penalties owed by <br />any city to the state. City acknowledges that WCIA assumes no <br />liability to the state for payments of premiums or penalties <br />owed by the City to the state with the exception of retro <br />penalties owed the state as provided in Paragraph 4. <br />9. The text herein shall constitute the entire <br />agreement between the parties and supersedes any other oral or <br />written agreement of any kind. <br />-2- <br /> <br />