RES 98042 - Laserfiche WebLink

subject to any appreciation, depreciation, interest or amortization. Such sum shall be paid within ninety (90) days of the effective date of the dissolution. 4. Ownership of Property. The parties agree that title to the Property shall remain solely in the name of the City of Pleasanton. 5. Construction of Headquarters. a. Size and Amenities of Headquarters. The headquarters is currently being desigrted to provide approximately eight thousand (8000) square feet of office space. Final design of the headquarters shall be approved by the joint executive directors of the YPA. Public works project bid specifications shall be reviewed and approved by both parties. b. Timing for Construction. The parties expect that the project to build the headquarters will be put out to bid in the fall of 1998. c. Construction Contract and Management. Pleasanton shall prepare the bid specifications based upon the approved design and put the project out to bid. The Pleasanton City Council shall award the bid to the lowest responsible bidder. Pleasanton shall carry out all the responsibilities related to the headquarters construction which are commonly performed by a public agency for a public works project, including, but not limited to: preparing bid specifications; holding informational meetings with interested contractors; managing contracts with architects, engineers and other professionals; awarding and executing a contract with the lowest responsible bidder; project management; and project inspections. Pleasanton agrees to indemnify, defend, and hold harmless Livermore for any claims for damages arising from Pleasanton's negligence or misconduct in the management of the project. The parties specifically agree that the construction contract shall provide that all contractor insurance certificates name both parties as additional insureds, and both parties shall be named as the beneficiaries of any completion, labor, and materials bonds. 6. Apportionment of Construction Costs for Headquarters. a. Payment by Each Party. Each party shall pay one-half(I/2) of the environmental and soils testing, design and construction costs ("Construction Costs") related to the headquarters. b. Time for Payment. Livermore shall appropriate and pay to Pleasanton one-half of the estimated Construction Costs at the time Pleasanton awards the construction contract for the headquarters. Pleasanton will place such funds in a separate account and provide Livermore with an accounting of the funds within ninety (90) days of the filing of a notice of completion for the headquarters.