Res 2007-161 - Laserfiche WebLink

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I I I 5. Project Costs. A. Carma will be responsible for the costs of the Post Road Water Project, including engineering costs, construction costs, easement costs, and administrative costs (subject to payment by the City of over sizing costs under Paragraph 5.B, and subject to reimbursement by the City from impact fees under Paragraph 9), and Carma will not request nor require the issuance of bonds or any other form of public indebtedness in financing the Post Road Water Project. B. As the City has requested over sizing of the Post Road Project under Paragraph 2, the City will pay to Carma the increase in the cost of the Post Road Water Project associated with the oversizing, consisting of the increase in the construction cost and any additional engineering fees directly associated with the oversizing. The City will make this payment to Carma after the issuance by the City of a certificate of acceptance with respect the Post Road Water Project (as provided in Paragraph 6.C. below), within 30 days after the Post Road Water Project Engineer has submitted to the City an itemization of the increase in costs due to the overslzmg. 6. City Inspections and Acceptance. The City agrees, at no cost to Carma, to: A. Inspect the construction of the Post Road Water Project as construction progresses; Inspect the Post Road Water Project promptly upon completion of construction; and Issue a certificate of acceptance of the Post Road Water Project to Carma after 1) all required inspections are passed, 2) Carma submits a one-year warranty against defects in materials and workmanship in the Post Road Water Project executed by the contractor, and 3) the Post Road Water Project Engineer submits complete as- built drawings for the Post Road Project to the City. B. C. 7. Reservation of Water Capacity. A. The City agrees to reserve, for a period of ten years after the issuance by the City of a certificate of acceptance with respect to the Post Road Water Project (the "Reservation Period") 1680 water service units (SU) (as determined by using the City's water impact fee service unit calculations formula in effect as of September 30, 2002) of capacity in the Post Road Water Project for use on the Carma Property (the "Reserved Capacity"). The Reserved Capacity will he reduced for each City water impact fee service unit issued with respect to the Carma Property by the City for use of the Post Road Project (but not with respect to water service units from any other facilities or project), and the resulting Reserved Capacity will be deemed the "Adjusted Reserved Capacity." The City agrees to honor requests by the owners of the Carma Property to connect to the Post Road Water Project to the extent of its Adjusted Reserved Capacity. In order to protect the right of Carma and the subsequent owner(s) of the Carma B. 3 Post Road Water Utility Agt 20070614a