Any and all payments due or to become due the contractor, and all rights of the contractor to demand and receive such payments, shall be subject to all provisions of law relating to attested accounts of subcontractors, equipment men, materialmen, laborers or mechanics. The contractor shall well and truly pay or satisfy the just and equitable claims of all persons or corporations who have performed labor or furnished materials or equipment for the contractor in the execution of each such contract; the just and equitable claims of all persons or corporations who have previously filed an attested account of any such claims with the proper official of the City; and all bills, costs or claims of any kind which might become a liability, lien or charge against the City. In the event attested accounts are filed with the City, the City may retain out of the moneys due or to become due the contractor, a sum sufficient to pay all such attested account claimants, and in case such accounts are not paid or adjusted to the satisfaction of the City, the City may retain all payments pursuant to this chapter and pursuant to the law of attested accounts provided for by Ohio R.C. 1311.26 to 1331.37, inclusive, as amended. (Ord. 60-54A. Passed 8-15-60.)