Res 2003-095 - Laserfiche WebLink

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149. AMENDMENT NO. 2 TO WASTEWATER UTILITY IMPROVEMENT AGREEMENT RECITALS h On December 10, 2002, City of San Marcos (the "City"), Bennett Realty Group ("Bennett"), Pen2/ Financial Corporation ("Perry"), Chuck Nash ("Nash"), and Dam Blanco Partnership ("Blanco") entered into a Wastewater Utility hnprovement Agreement (the "Agreement") to jointly participate in funding the costs of the North IH-35 Wastewater Improvements Project (the "Project"), consisting of wastewater mains and associated materials, equipment, and appurtenances (the "Facilities"), as described in the Engineering Report for Evaluation of Wastewater Improvements along IH-35 Nortb of the Blanco River, prepm'ed by Baker-Aicklen & Associates, Inc. mid dated July I5, 2002. 2. Amendment No. 1 to the Agreement, approved by the goveming body of the City on January 13, 2003, revised the Agreement to a) postpone the January 15, 2003 deadline for certain events to occur under the Agreement to April 15, 2003, and b) add two additional entities, Interstate 35 J.V. ("Interstate") and Sun Saddlebrook Limited Partnership ("Sun"), as parties to the Agreement 3. The Parties to the Agreement wisb to mnend the Agreement to postpone the April 15, 2003 deadline for certain events to occur under the Agreement to September 10, 2003. AMENDMENT Now, therefore, it is understood and agreed by the Parties that the fbllowing amendments m'e incorporated into the Agreement: 1. Paragraph 1 of the Agreement is mnended as follows (undedlmng ~nd~cates added text ........... indicates deleted text): 1. Designation of Project Manager. The Parties agree to engage a limited liability corporation or partnership, to be formed by the Parties other than the City, to serve as project manager (the "Project Manager") for the construction of the Project The Parties other than the City agree to pay all expenses for the formation of the corporation or pm.tnership in equal shares. The Parties agree that all expenses for the operation of the corporation or partnership will be paid as costs of the Project in accordmlce with Paragraph 7 below. The documents forming the corporation or partnership, including the documents that define the role, purposes, authority and decision-malting processes of the entity, shall be subject to approval by all of the Parties. If the process of forming the entity is not complete and assented to by all of the Parties that make their first escrow payments under Paragraph 7.A.1 by September 10 ~ ~v-, ~ ¢ 2003, this Agreement will be automatically terminated and the Parties will have no further obligations under this Agreement. 2. Paragraph 7.A. of the Agreement is amended as follows (underlining indicates added text; ........... indicates deleted text).