Res99 RD-99-30 - Laserfiche WebLink

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Section 108(E) shall be deemed an election not to proceed with the IAC Project and IAC Shazed Infrastructure and an election to terminate this Agreement. E. Return of Pre-Acquisition Budget Funds. Notwithstanding any other provision of this Agreement, at any time afrer IAC shall have delivered to the Agency the Letters of Credit (or Cash Deposit) in accordance with Section 307, IAC may request the reriun of that poRion of the Pre-Acquisition Budget funds not previously expended or obligated by the Agency for activities authorized under the Pre-Acquisition Budget, together with all accrued interest, if any, thereon; pcovided, however, that, if the Letters of Credit (or Cash Deposit) have not been delivered to the Agency on or before the date set forth in the Schedule of Performance, the Agency may continue to hold and proceed to chazge Acquisition Costs against the Pre- Acquisition Budget funds. §305 Development of Acquisition Budget. No later than seven (7) days following the completion oF the Appraisals required in Section 304(B) hereof, the Agency's eminent domain attomey and IAC will develop (i) an Acquisition Budget which estimates the costs of proceeding with the acquisition of the Acquisition Pazcels, and (ii) a procedure to monitor the Acquisition Budget. T'he Acquisition Budget shall assign, on a preliminary basis, a propoRional shaze of the Total Acquisition Costs to each Acquisition Pazcel. If IAC approves the Acquisition Budget, IAC shall notify the Agency of its Election to Proceed in accordance with the procedures set forth in Section 304(D). In the event that the Acquisition Budget exceeds IAC's projected acquisition costs for the Acquisition Pazcels, IAC may elect in writing to terminate this Agreement in accordance with Section 809 of this Agreement with respect to the IAC Project Site, or subject to Section 801, with the Agency's prior written concurrence a portion thereof, or engage in a Meet and Confer session pursuant to Section 304(C) of this Agreement. Failure to provide a notice of termination within the period specified in the Schedule of Performance shall be deemed an election to proceed with the IAC Project. The term "Acquisition Budget" is defined as the estimated amount, based on the Appraisals, IAC and the Agency mutually agree to be equal to the total cost of acquiring the Acquisition Pazcels, including a contingency in the amount of five percent (5%) of the amount allocated therein for the cost of acquiring the Acquisition Pazcels, an amount the Agency and IAC estimate is sufficient to cover the costs described in Sections 305(A), �(excluding Abandonment Costs), � and � below. The Acquisition Budget shall be comprised (without duplication) of all of the following: A. The purchase price for the real property, improvements, fixtures and equipment of any and all portions of the Acquisition Pazcels acquired by the Agency by direct purchase, together with all costs and expenses incident to such purchase, including, but not limited to, appraisal, title and escrow costs. B. All costs and expenses of acquiring the Acquisition Pazcels or any poRion thereof, by eminent domain, including, but not limited to, filing fees, witness fees, court costs, deposits necessary to obtain orders of prejudgment possession, satisfaction of judgment, severance damages, loss of goodwill, pre-condemnation damages and attomeys' fees. C. All reasonable costs and expenses incurred by the Agency in connection with the relocation of the occupants of the Acquisition Pazcels pursuant to California Govemment 9 9627:8397625