SR 05:009 - Laserfiche WebLink

(a) The estimate of costs for the Additional Improvements including the cost of easement is a not to exceed amount of $135,000 as more particularly set forth in Exhibit "A". Reimbursable costs shall not include any markup by the Developer. (b) During the course of construction, if changes are required which would increase the cost of the Additional Improvements in excess of ten percent (10%) of the total estimated cost, Developer shall confer with City in advance of approving any such changes, and both parties shall agree prior to approval of any such changes. Increases in the cost of additional improvements shall only be allowed due to changed circumstances. (c) Within thirty days following Developer's completion of all of the Improvements described in Section 1 above, the Developer shall submit to the City Engineer a verified cost statement for the additional Improvements, including contractor invoices and other documentation reasonably requested by the City Engineer. The City Engineer shall review the cost statement for appropriateness and determine whether an item is inappropriate or excessive. If the parties are not able to reach an agreement as to the appropriate reimbursable amount, the dispute shall be submitted to the City Manager for final decision. Section 3. Ownership of Improvements Developer shall dedicate the Improvements to the City, including a 20-feet wide easement, upon completion, and City shall own the Improvements after acceptance by the City Council. Thereafter, City shall have the right to connect to and use the Improvements in accordance with City regulations and the fight to extend the pipeline, as provided herein. Section 4. Time and Manner of Reimbursement. (a) The fight to the reimbursement shall be personal to Developer and shall continue notwithstanding the subsequent sale or transfer of the Property. Developer shall have the fight, in its sole discretion, to assign its interest to the reimbursement to another person or entity at any time by providing the City written notice of such assignment. (b) Upon the City's acceptance of the Improvements and the parties' agreement as to the reimbursable amount, the City shall pay such amount to Developer within thirty (30) days. Upon payment, this Agreement shall terminate and the Developer shall not be entitled to any further payment, regardless of whether the City passes on these costs to any third-party. (c) Developer hereby directs that any reimbursement due to Developer pursuant to this Agreement shall be payable to the Developer mailed to: Mr. Michael Callahan Callahan Properties Airport Business Center Properties 289 Wright Brothers Avenue SR:05:009 Page 6 of 8