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payments of the amount due to each of his subcontractors in the same manner as the public entity is required to pay the contractor under this section, providing that the subcontractor is satisfactorily performing under his contract with the contractor. 24-91-104. Contract - completion by public entit~ - partial payments. If it becomes necessary for a pub 1 i c entl ty to take over the completion of any contract, all of the amounts owing the contractor, including the withheld percentage, shall first be applied toward the cost of completion of the contract. Any balance remaining in the retained percentage after completion by the public entity shall be payable to the contractor or the contractor's creditors. Such retained percentage as may be due any contractor shall be due and payable at the expiration of thirty days from the date of final acceptance by the public entity of the contract work. 24-91-105. Withdrawal b contractor of sums withheld- security deposit requlred. he contractor under any contract exceedlng eighty thousand dollars made or awarded by any public entity. pursuant to which sums are withheld to assure satisfactory performance of the contract, may withdraw the whole or any portion of the said sums withheld if the contractor deposits acceptable securities with the public entity. The contractor shall endorse the acceptable securities in favor of the public entity, authorizing the puilic entity to negotiate the acceptable securities and to receive the payments due the public entity pursuant to law or the terms of the contract, and to the extent there are excess funds resulting from said negotiation, the balance shall be returned to the contractor. Such acceptable securities so deposited at all times shall have a market value at least equal in value to the amount so withdrawn. If at any time a public entity determines that the market value of the acceptable securities theretofore deposited has fallen below. the amount so withdrawn, the public entity shall give notice thereof to the contractor, who forthwith shall deposit additional acceptable securities in an amount sufficient to reestablish a total deposit of securities equal in value to the amount so withdrawn. 24-91-106. Escrow agreement - authority to enter into. A public entity may enter into an escrow contract or agreement with any national bank, state bank, trust company, or savings and loan association located in this state and designated by the contractor, after notice to the surety, to provide as escrow agent for the custodial care and servicing of any obligations deposited with him pursuant to this section. Such services shall include the safekeeping of the obligations and the rendering of all services required to effectuate the purposes of this section and section 38-26-107, C.R.S. 1973. 24-91-107. Custodian for obligations - collection of PAGE 3-HOUSE BILL NO. 1239