Res 2009-001 - Laserfiche WebLink

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AMENDMENT TO THE CAPITAL IMPROVEMENT AGREEMENT FOR SLC 61 JOINT VENTURE This Amendment to the Capital Improvement Agreement is made oA q "l, 2001 between the City of San Marcos, a Texas municipal corporation (the "City"), 630 E. Hopkins, San Marcos, TX 78666, and SLC 61 Joint Venture ("SLC") San Marcos, TX 78666. RECITALS: 1. On June 19, 2007, the City Council approved, through Resolution 2007-114R, a Capital Improvement Agreement between the City and SLC. That Agreement, in part, included an agreement whereby the SLC would construct Cottonwood Creek Parkway from Sadler Drive to Leah Avenue, with the City participating in the cost of said construction. 2. Part of the consideration for the June 2007 Agreement included the donation of a strip of land along Cottonwood Creek to the City for use as green space. That dedication has been accomplished. 3. The SLC and the City are ready to construct Cottonwood Creek Parkway (the "Parkway"). SLC has solicited bids for the construction of the Parkway and award the contract to the low bidder. The construction bids are attached to this Amended Contract as Exhibit A. AGREEMENT: For and in consideration of the promises and the mutual agreements set forth herein, the City and SLC agree as follows: 1. Agreements by SLC. SLC agrees as follows: A. The Developer agrees to construct the Parkway as described on the construction plans that have approved by the City, and in accordance with the City's construction standards and specifications. B. The Developer will act as project manager in the construction of the Parkway. The Developer will ensure that the construction is carried out under the direct supervision of a professional engineer registered in the State of Texas. 2. Agreements by the City. A. The City agrees to pay to SLC $275,546.95 in monthly progress payments upon receipt of invoice by SLC, or its contractor, and upon approval of the invoice by the City Engineer or designee. The invoices shall submitted as progress payments in an amount equal to the percentage of work completed by SLC's contractor on the Parkway project. The City, at any time, may suspend or withhold portions of monthly progress payments if it believes that SLC's contractor will not complete the work due to actual default or that the Contractor has represented