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Agmt03 BHV Innisfree Ven... (3)
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Agmt03 BHV Innisfree Ven... (3)
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Last modified
2/6/2014 9:27:49 AM
Creation date
1/6/2004 12:08:54 PM
Metadata
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Template:
Agreement
Contractor Name
BHV Innisfree Ventures
PROJECT NAME
construction & reimbursement agmt - Garage
RMP File Number
100 bin 24
Date
10/23/2003
MO Ref
RD-03-28 RD-03-32
Amendment
Yes
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Consultants to put forth, reasonable commercial efforts to perform the Services in <br />accordance with the Schedule of Performance. <br />9. TERM: TERMINATION. <br />A. The term of this Agreement shall commence upon the date first herein <br />above written. <br />B. This Agreement may be terminated by the City and Agency at any time for <br />convenience after seven (7) days' written notice to the Developer. In the event of <br />termination under this section (B), Developer shall be paid its compensation for <br />Services performed to the date of termination, services of Contractors and Consultants <br />then due, and all reasonable termination expenses. Termination expenses are defined <br />as those reasonable expenses arising prior, during and subsequent to termination that <br />are solely and directly attributable to the termination. <br />C. This Agreement shall terminate if the City and Agency do not issue a <br />Notice to Proceed by October 22, 2003 unless Developer, City and Agency agree to <br />extend the term of this Agreement, which agreement shall be confirmed in writing. In <br />the event this Agreement terminates as provided in this Section 9(C), Developer shall <br />not be entitled to any compensation other than as provided in the Preconstruction <br />Agreement and Section 809 of the DDA. <br />D. This Agreement may be terminated by City and Agency in the event <br />Developer defaults under the DDA or any of the other agreements between the parties <br />in connection with the Project. In addition, City and Agency may terminate this <br />Agreement for default if any of the following events occurs and Developer fails to <br />commence and diligently pursue a cure of the default within fourteen (14) days of <br />service of written notice by the City and/or Agency of the default: <br />i) The Developer is insolvent or has made a general assignment for the <br />benefit of creditors, or a receiver has been appointed on account of the insolvency of <br />the Developer <br />ii) A Contractor or any of its subcontractors should fail to make prompt <br />payment to subcontractors or material suppliers for material or for labor. <br />iii) Developer or a Contractor or a subcontractor persistently disregards laws, <br />ordinances, or the instructions of the City or the Agency. <br />Atty/AgrlAgr.147 <br />101403 Final <br />L. Beck <br />16 <br />
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