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Agmt24 IQHQ Elco Yards, LP
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Agmt24 IQHQ Elco Yards, LP
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Last modified
10/18/2024 4:41:38 PM
Creation date
10/18/2024 4:41:28 PM
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Agreement
PROJECT NAME
Caltrans-Highway Improvement Agreement-Elco Yards
Date
9/26/2024
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Agreement 04-2958 <br />Project No. 0424000060 <br />Project Development Agreement 2017-02-17/HIA (Created October 5, 2023) 2 of 22 <br />3. The term AGREEMENT, as used herein, includes this document and any attachments, <br />exhibits, and amendments. <br />This AGREEMENT is separate from and does not modify or replace any other cooperative <br />agreement or memorandum of understanding between the PARTIES regarding the PROJECT. <br />PARTIES intend this AGREEMENT to be their final expression that supersedes any oral <br />understanding or writings pertaining to the WORK. The requirements of this AGREEMENT <br />will preside over any conflicting requirements in any documents that are made an express part <br />of this AGREEMENT. <br />If any provisions in this AGREEMENT are found by a court of competent jurisdiction to be, or <br />are in fact, illegal, inoperative, or unenforceable, those provisions do not render any or all other <br />AGREEMENT provisions invalid, inoperative, or unenforceable, and those provisions will be <br />automatically severed from this AGREEMENT. <br />Except as otherwise provided in the AGREEMENT, PARTIES will execute a written <br />amendment if there are any changes to the terms of this AGREEMENT. <br />PARTIES agree to sign a CLOSURE STATEMENT to terminate this AGREEMENT. <br />However, all indemnification, document retention, audit, claims, environmental commitment, <br />legal challenge, maintenance and ownership articles will remain in effect until terminated or <br />modified in writing by mutual agreement or expire by the statute of limitations. <br />4. No PROJECT deliverables have been completed prior to this AGREEMENT. <br />5. In this AGREEMENT capitalized words represent defined terms, initialisms, or acronyms. <br />6. PARTIES hereby set forth the terms, covenants, and conditions of this AGREEMENT. <br />RESPONSIBILITIES <br />Sponsorship <br />7. A SPONSOR is responsible for establishing the scope of the PROJECT and securing the <br />financial resources to fund the WORK. A SPONSOR is responsible for securing additional <br />funds when necessary or implementing PROJECT changes to ensure the WORK can be <br />completed with the funds committed in this AGREEMENT. <br />PROJECT changes, as described in the CALTRANS Project Development Procedures Manual, <br />will be approved by CALTRANS as the owner/operator of the State Highway System. <br />8. PERMITTEE is the SPONSOR for the WORK in this AGREEMENT.
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