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<br />Streetscape Improvements and Street Modifications that City or the Agency may <br />request without the prior written approval of City's Project Manager, the City Council and <br />the Agency's Board of Directors. The current construction estimate for Streetscape <br />Improvements and Street Modifications is Five Million One Hundred and Fifty Thousand <br />Dollars ($5,150,000.00). The Not-to-Exceed Streetscape Cost will be the final amount <br />agreed to in writing between the City and Developer after this estimate has been <br />adjusted for value engineering and other savings and finalized but before construction <br />of the Streetscape Improvements and Street Modifications begins. <br />B. In calculating the Not-to-Exceed Streetscape Cost, the parties assume <br />that Developer, Consultants and Contractors will, from time to time, encounter delays <br />and difficult site conditions arising from limited access to work areas, other interference <br />or conditions at the Project Site. The Not-to-Exceed Streetscape Cost includes all costs <br />Developer, Consultants and Contractors will incur on account of such conditions. <br /> <br />The Cost of the Work. <br />1. The Cost of the Work is the cost of all labor, materials, equipment, <br />overhead, taxes, utilities, insurance, royalty and license fees, deposits and other "hard" <br />costs of constructing the Streetscape Improvements and Street Modifications actually <br />paid by Developer to or on behalf of Wentz Group, the general contractor, and its <br />subcontractors. <br /> <br />C. <br /> <br />2. City and Agency and their accountants may audit the Cost of the <br />Work when the Streetscape Improvements and Street Modifications are complete or this <br />Agreement is terminated for any reason. Developer shall require its Contractors and <br />Consultants to make their cost records available and otherwise cooperate in this audit <br />as provided in Section I. All amounts paid by City and Agency under this Agreement <br />shall be subject to adjustment as a result of any audit, and the parties shall make any <br />payment required as a result of the audit within twenty (20) days of the date the City and <br />Agency give Developer written notice of the audit results. <br />3. Developer shall provide the City a unit cost for each element of the <br />Streetscape Improvements and Street Modifications, which will be used for the purpose <br />of calculating the amount of payment due to Developer. <br />D. Reserved. <br /> <br />Atty/Agr/2005.072 <br />101105 <br />840847v12 33786/0001 LBack <br /> <br />7 <br />