Timeline Footage Distorting Badly?

I am having a problem with a small bit of the footage in my timeline severely distorting during playback (and export).  It always happens in the same spots in the video.  In the source monitor, the footage playsback fine, in the timeline it displays like corrupted footage.

I would describe it as a massive pixelization and tearing appearance.

I've had this issue for weeks and nothing I do fixes it.  I've tried countless graphics card settings.  I've tried replacing the footage in the timeline with the same footage again (thinking maybe the clip on the timeline got corrupted).  I've even tried copying the entire sequence and pasting it into a new project/timeline.  Nothing works.

What are my options at this point?

I don't understand what's so special about this particular footage that Premier constantly plays it back with this distortion in the exact same spots.  Like I said, the footage plays back fine in the source/media brower