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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
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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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ii) If Developer does not achieve~Substantial Completion of the Public <br />Parking Facility (and Retail/Cinema Block Streetscape if applicable) by November 18, <br />2005, fifty percent (50%) of the unexpended General Conditions and Contingency funds <br />will be paid to Developer when retention is released and the remaining General <br />Conditions and Contingency funds will remain with City and Agency. <br />4. Paragraph 3.D.2 is replaced with the following language: <br />In addition to the Parking Facility Costs, City and Agency shall pay Developer a fee for <br />Services in an amount equal to the lesser of (a) three percent (3%) of the Cost of the <br />Work, as confirmed by audit or (b) Five Hundred and Twenty Two Thousand Dollars <br />($522,000) (the "Fee"). This Fee shall be paid monthly, based on the Cost of the Work <br />approved for reimbursement as described in Section 3(H), beginning in the month <br />Developer commences excavation for the Public Parking Facility. The Fee shall be <br />subject to adjustment upon completion of the Project based upon the audited Cost of <br />the Work, but shall in no event exceed $522,000. All amounts paid to Developer as a <br />fee shall be included in calculating the Not-to-Exceed Parking Facility Cost. <br />5. Paragraph 3.D.3 is deleted in its entirety. <br />6. Paragraph 3.D.4 is deleted in its entirety. <br />7. Section 3.E -Change Orders - is replaced with the following language: <br />1. In consideration of the fact that Developer was responsible for the <br />investigation of the Project Site and for the design of the Public Parking Facility, and of <br />the parties' agreement to the increased Not-to-Exceed Parking Facility Cost set forth in <br />paragraph 3 (Section 3.C), above, Developer agrees, for itself and on behalf of its <br />Consultants and Contractors, that the City and Agency will not pay more than the Not- <br />to-Exceed Parking Facility Cost on account of Services or work that Developer or a <br />Consultant or Contractor could otherwise claim as a change order, extra services or <br />6 <br />770727v16 33786/0001 <br />
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