Res 2003-167 - Laserfiche WebLink

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Agreement shall continue as to the Phase 2 Project. The City's payment of these costs will be made as the work on the Phase 2 Project progresses. If both Bennett and Blanco so withdraw, this Agreement shall terminate as to the Phase 2 Project, as the sole and exclusive remedy for such witlldrawal. 2. 75% of the estimated Phase 2 Project costs attributable to Bennett or Blanco, as applicable, as described in the attached Exhibit C-2, within 10 days of the date the Phase 2 Project Manager notifies the Phase 2 Parties that the construction contract for the Phase 2 Project is ready for execution; provided, that if either Bennett or Blanco does not make this payment by this date, it shall be deemed to have withdrawn as a Phase 2 Party under this Agreement, as the sole and exclusive remedy for such non-payment, and shall have no further rights or Reserved Capacity with respect to the Phase 2 Project under this Agreement. If either Bennett or Blanco so withdraws, the City will assume the withdrawing party's share of the Phase 2 Project costs (subject to Paragraph 2.8.B), and this Agreement shall continue as to the Phase 2 Project. The City's payment of these costs will be made as the work on the Phase 2 Project progresses. If Bennett so withdraws from this Agreement and the City makes such payment, Blanco shall assume the role, authority and obligations of the Phase 2 Project Manager, and Bennett shall, upon written request from Blanco, immediately forward all contracts, invoices, accounting records and other records related to the Phase 2 Project Manager's role to Blanco. If both Bennett and Blanco so withdraw, this Agreement shall terminate as to the Phase 2 Project. The Phase 2 Project Manager will ensure that all funds escrowed by the Parties are deposited in accounts (collectively, the "Phase 2 Escrow Account") that are fully federally insured. B. The Phase 2 Parties agree that the Phase 2 Project Manager may make payments from the Phase 2 Escrow Account in the respective percentages shown on the attached Exhibit C-2, for each invoice of the Phase 2 Project Manager, Phase 2 Engineer or Phase 2 Contractor, that is in accordance with the agreed Phase 2 Project budget and approved by the Phase 2 Project Manager and the City, and for each cost of easement acquisition that is approved by the Phase 2 Parties under Paragraph 2.3.L above, within 15 days of the date of each invoice. If any funds remain in the Phase 2 Escrow Account after payment of all costs of the Phase 2 Proj ect, the Phase 2 Proj ect Manager will refund these anlounts to the Parties, other than the City, on a prorata basis within 15 days of the final payment of Phase 2 Project costs. If the Phase 2 Project costs attributable to the Parties exceed the amount in the Phase 2 Escrow Account, the Phase 2 Parties agree to make payments to the Phase 2 Project Manager in the Parties' respective percentages shown on the attached Exhibit C-2, for each invoice of the Phase 2 Project Manager, Phase 2 Engineer or Phase 2 Contractor that is approved by the Phase 2 Project Manager and the City, , and for each cost of easement acquisition that is approved by the Phase 2 Parties under Paragraph 2.3.L above, within 15 days of the date of each invoice. C. The City agrees to make payments to the Phase 2 Project Manager in the City's respective percentage shown on the attached Exhibit C-2, for each invoice of the Phase 2 Project Manager, Phase 2 Engineer or Phase 2 Contractor, or for each cost of easement acquisition under Paragraph 5 below, that is approved by the Phase 2 Project Manager and the City, within 15 days of the date of each invoice. 2.7. Reservation of Wastewater Capacity in Phase 2 Project. The City agrees to reserve, for a period of ten years after substantial completion of the Phase 2 Facilities (the "Phase 2 Reservation Period"), the following capacity (the "Phase 2 Reserved Capacity") for Bennett and Blanco in the Phase 2 Facilities for use by Bennett and Blanco on their respective properties, in the City's wastewater 9