Res 1978-008 - Laserfiche WebLink

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20a STATE Of TEXAS CONTRACT COUNTY Of HAYS KNOW ALL MEN BY THESE PRESENTS: I THAT on this 19th day of January, A.D., 1978, the City of San Marcos, Hays County, Texas, a municipal corporation existing by and under the laws of the State of Texas, hereinafter referred to as "City", and the San Marcos Subsidiary of Thermon Manufacturing Company, hereinafter called "Company" entered into this agreement to facilitate the construction of water and wastewater extensions to Barnes Drive for the purpose of encouraging new industry in San Marcos; the terms, conditions and considerations of said agreement being as follows: I. City agrees to arrange by bid and separate contract for the performance of the work necessary for construction of water and wastewater extensions to Barnes Drive, said work being more fully described in the contract documents, plans and specifications attached hereto and incorporated herein for all intents and pur- poses. II. City shall have the sole right to supervise, manage, control and direct the performance of the work on the Barnes Drive project and shall have sole authority to approve or reject any work performed under its separate contract for the Barnes Drive improvements. In this regard, City agrees to provide inspectors, at its own expense, for on-site observation of construction. I III. Company hereby accepts the construction plans and specifications as set out in EXHIBIT "A" attached hereto and agrees to compensate City for all costs incurred by City in the preparation and review of said contract documents, plans, specifications, testing, and for actual costs of construction of the Barnes Drive improvemen-:s. IV. Compensation to be paid to City by Company under this agreement shall be estimated in the sum of Twenty Thousand Dollars ($20,000) with payment to City scheduled as follows: 1. Upon execution of this agreement between City and Company, Company shall deposit with City the sum of five Thousand Dollars ($5,000) which shall be 25% of the above estimated total cost. Said partial payment will allow City to begin the process of advertising for and letting bids on the project. I 2. Upon the award of a bid and prior to the execution of the separate construction contract between City and the successful bidder, Company shall deposit with City the remainder of the above estimated total project cost, which total deposit of Twenty Thousand Dollars ($20,000) will then allow the City to proceed with construction under separate contract. 3. In the event changes are required as work progresses, Company shall compensate City for any change order(s) made to the separate construction contract up to a total (for all change orders added together) of twenty-five percent of the approved bid price. for change order costs exceeding twenty-five percent of the approved bid price, City shall negotiate with Company for compensation amounts to be paid by Company, when such costs also exceed the original estimate for total project cost as set out above.