Res 2003-016 - Laserfiche WebLink

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Januaw 15, 2003, this Agreement will be automatically terminated and the Parties will have no further obligations under this Agreement. 3. Paragraph 7.A. of the Agreement is amended as follows (underlining indicates added text; ........ k-e ~ndmates deleted text). A. Each of the Parties, other than the City, agree to pay the following sums to the Project Manager, for the sole purpose of covering the financial obligations of the Parties under this Agreement: 1. 25% of the estimated Project costs attributable to the Patty as described in the attached Exhibit C, no later than Aprilo,~,.,~T ....... 15, 2003; provided, that any party that does not make this payment by this date shall be deemed to have withdrawn t~om this Agreement, as the sole and exclusive remedy for such non-payment; and if any party so withdraws, the Engineer will calculate an adjustment to the cost sharing percentages in the attached Exhibit C to reflect the Party's withdrawal with respect to the Project costs, and the Project Manager will provide a copy of this calculation to the remaining Parties; and 2. 75% of the estimated Project costs attributable to the Party as described in the attached Exhibit C, within 10 days of the date the Project Manager notifies the Patties that the construction contract for the Project is ready for execution; provided, that any party that does not make this payment by this date shall be deemed to have withdrawn from this Agreement, as the sole and exclusive remedy for such non-payment; and if any party so withdraws, the Engineer will calculate an adiustment to the cost sharing percentages in the attached Exhibit C to reflect the Party's withdrawal with respect to the Project costs, and the Project Manager will provide a copy of this calculation to the remaining Parties. The Project Manager will ensure that all funds escrowed by the Parties are deposited in accounts that are fully federally insured. Paragraph 8 of the Agreement is amended as follows (underlmmg mdicates added text ........ indicates deleted text): 8. Reservation of Wastewater Capacity. The City agrees to reserve, for a period of ten years after substantial completion of the Facilities (the "Reservation Period"), the following capacity (the "Reserved Capacity") for each of the Parties in the Facilities for use by the Parties on their respective properties, in the City's wastewater service units (SU) determined by using the City's wastewater impact fee service unit calculations formula in effect as of September 30, 2002: Party Reserved Capacity (SU) Bennett 1,100 Perry 1,200 Nash 35 Blanco 1,080 2