COM 0660.000 2020-2022 - Laserfiche WebLink

Home

acquisition price for the Improvements (the "Acquisition Price"), which shall le equal to the aggregate amount of actual costs incurred by the Developer to design and construct the 3 Improvements (the "Actual Costs"), as initially identified and estimated in the project budget attached as Exhibit "A" hereto (subject to revision as hereinafter provided, the "Project Budget") and s consisting of: r� (i) the actual cost of constructing the Improvements, including labor, materials and equipment costs and the costs of insurance policies and surety bonds i required hereunder, all as included in the contractp rice under the Construction Contract (the "Contract Price"); 3 (ii) the actual costs of any and all necessary professional and technical services rendered which are related to the design and construction of the Lmprovements, including, but not limited to, accounting, legal, architectural, engineering, inspection, materials testing, consulting services and similar professional services directly related to the supervision and enforcement of construction contracts and the performance thereof, (iii) the amount of the fees actually paid to governmental entities or utilities in order to obtain permits, licenses or other necessary governmental approvals for the Improvements; (iv) the actual cost for necessary professional services. related to the construction of the Improvements, including engineering, inspection, construction staking,materials testing and similar professional services; I (v) actual construction management and supervision fees; (vi) any administration and oversight charges paid to the County for the implementation of this Agreement; and (vii) other actual costs directly related to the construction of the hmprovements, as are reasonably related to such construction. j The initial estimates set forth in the Project Budget include a project contingency equal to 15% of the Contract Price (the "Project Contingency"). As used herein from time to gime, the term "Estimated Acquisition Price" shall include, at the time in question, the sum of the estimated Actual Costs and Project Contingency reflected in the then-current Project Budget; it being understood, however, that the Project Contingency shall be included in the actual Acquisition Price only to the extent actually expended on Actual Costs in accordance with th-is Agreement. Actual Costs comprising the Acquisition Price shall be subject to verification by DEM to its reasonable satisfaction and, except for amounts paid to the County or other governmental entities or utilities under subparagraphs (iii) and (vi) above, shall be limited to amounts paid under the Construction Contract and other contracts with third parties not affiliated with or entities controlled by the Developer, which other contracts or invoices describing the work performed under such contracts in sufficient detail shall be in writing. 5