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COM 0660.000 2020-2022
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COM 0660.000 2020-2022
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Last modified
2/28/2022 10:32:09 AM
Creation date
2/28/2022 10:31:49 AM
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Communications
Communications - Type
COM
Communications - Council Term
2020-2022
Communication
0660
Point
000
Author
Deanna S. Sako, Director of Finance
Communications - Referred To
COUNCIL
Document Relationships
AGE COUNCIL 2022-03-09 2020-2022
(Related To)
Path:
\Council Records\Agendas\2020-2022\Council
AGE COUNCIL 2022-03-23 2020-2022
(Related To)
Path:
\Council Records\Agendas\2020-2022\Council
BIL 136 Draft 01 2020-2022
(Related To)
Path:
\Council Records\Bills\2020-2022
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(c) The Developer and DEM shall act through their authorized representatives in matters <br /> arising under the provisions hereof with respect to the construction of the Project. The Developer <br /> and DEM shall each designate the person(s) serving as its authorized representative(s) and the <br /> specific matters, if less than all, as to which any such person is authorized to act on its behalf. In <br /> addition,the Developer shall cause the Contractor to designate the person(s) serving as its authorized <br /> representative(s) and the specific matters, if less than all, as to which any such person is authorized to <br /> act on its behalf. DEM may delegate responsibility for certain matters hereunder to other County <br /> departments and agencies, including the Department of Public Works, in which case DEM shall <br /> cause the other County department or agency to designate the person(s) serving as its authorized <br /> representative(s), the specific matters, if less than all, as to which any such person is authorized to act <br /> on its behalf and the address to which notice to each such person are to be provided pursuant to <br /> Section 10 hereof. The Developer and DEM shall each advise the other in writing of the foregoing <br /> designations at or prior to the time the Notice to Proceed is given pursuant to Section 3(b) hereof and <br /> shall each give timely notice in writing to the other of changes made to such designations from time <br /> to time. <br /> (d) Any provision hereof to the contrary notwithstanding, it is expressly acknowledged <br /> and agreed that the obligation of the County to pay the Acquisition Price for the Improvements is <br /> strictly Limited to (i) the "Net Bond Proceeds" (i.e., the sum of the Bond proceeds (if any) remaining <br /> after paying all costs of forming the District and issuing the Bonds (including costs previously paid <br /> by the County or the Developer which are reimbursed from Bond proceeds), funding capitalized <br /> interest and funding a reserve fund and any other funds and accounts required to be funded with <br /> Bond proceeds and the earnings (if any) derived from the investment thereof) and (ii) proceeds of <br /> the Special Tax levy expressly designated to be used for such purpose under the applicable <br /> provisions of the Bond Indenture. <br /> (e) In addition to payments of the Acquisition Price, the Developer shall be entitled to <br /> receive, from available Bond proceeds or available Special Tax collections, reimbursement for <br /> Incidental Expenses paid by the Developer, including costs incurred to finance construction of the <br /> Improvements and costs of letters of credit obtained to satisfy the terms of this Agreement, all as <br /> determined by mutual agreement between the County and the Developer. <br /> Section 3. Award of Construction Contract and Construction of Imp rovements. <br /> (a) The County hereby consents to the Developer's selection of Goodfellow Brothers, <br /> Inc., as contractor for the Improvements (in such capacity, the "Contractor"). In consideration of <br /> the terms and conditions provided in this Agreement, the Developer will enter into a construction <br /> contract for the Improvements with the Contractor (the "Construction Contract"), pursuant to <br /> which the Developer will hire and pay the Contractor for its Work to construct the Improvements <br /> (the "Work") in accordance with the terms thereof and hereof. The Contractor and the <br /> Construction Contract, and any subcontractors and subcontracts (the "Subcontractors" and <br /> "Subcontracts,"respectively), shall be subject to the following provisions, as applicable: <br /> (i) Prior to execution thereof, the Construction Contract shall be subject to <br /> approval by DEM, which approval shall not be unreasonably withheld or delayed, and to <br /> the further provisions set forth below. Immediately upon execution of fie Construction <br /> Contract, the Developer shall provide a fully-executed copy thereof, with all exhibits and <br /> schedules attached, to DEM. <br /> 6 <br />
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