Agmt97 San Mateo Co. Historical - Laserfiche WebLink

Browse Search

locations and facilities are more particularly identified and described in Exhibit "B" attached hereto and made part hereof by this reference (the "Facilities"); and WHEREAS, Association has agreed to undertake and complete the Improvements and enter into occupancy of the Courthouse and operation of the Museum no later than August 16,1998; and WHEREAS, Agency is committed to revitalization of the downtown area in furtherance of the objectives of its adopted Redevelopment Plan; and WHEREAS, Agency desires to facilitate expanded cultural offerings, provide opportunities for educational programs for its youth, and encourage activities in support of the economic development of Redwood City's downtown area; and WHEREAS, Agency has determined that its limited financial support of the Project will further these objectives; and WHEREAS, Association has requested and Agency has granted a commitment to furnish Association up to $375,000 for use toward completion of the Improvements, subject to the terms of this Agreement. NOW, THEREFORE, IT IS HEREBY AGREED BY THE PARTIES HERETO AS FOLLOWS: 1. Services to be Performed In consideration of the payments hereinafter described, Association shall undertake and complete the Improvements described in Exhibits "A". 2. Payments A. Maximum Amount. In full consideration of Association's performance of the services described in paragraph 1, the amount that the Agency shall be obligated to pay under this Agreement shall not exceed $375,000.00. B. Method of Payment. Association shall maintain detailed and accurate records of expenditures made and expenses incurred for the Project. No more frequently than once each month during the term of this Agreement, Association shall submit to Agency copies of paid invoices, and such other documentation as Agency shall reasonably require, for reimbursement. Within 30 days of presentation of invoices to Agency and Agency's verification of expenses incurred, Agency shall reimburse Association the cost of actual expenditures made for work performed on Improvements, as that work is identified, and within the amounts specified, in Exhibit "A". The parties recognize -2- AK/DES: Historical Museum: v.4: 5/15/97