SAFEWAY COST REIMBURSEMENT 1999 - Laserfiche WebLink

~ ~ NOW, THEREFORE, in exchange for mutual consideration, the receipt and value of which is hereby acknowledged, the parties agree as follows: Section 1. Improvements. The Improvements to be funded by the Developer will benefit other properties in addition to the Property ("Benefited Properties"). The Benefited Properties are: 5990 Stoneridge Mall Road (APN 941 120 105 702), 6000 Stoneridge Mall Road (APN 941 120 105 800), and 6110 Stoneridge Mall Road (APN 941 120 107 104), and are more particularly described in the attached Exhibit B. Developer is entitled to recover the Reimbursable Costs from the property owners for the Benefited Properties. Section 2. Payment of Costs. (a) A preliminary design and an estimate of the costs for the design, construction, construction management, and right of way acquisition for the Improvements and other related items shall be provided by the City to the Developer prior to issuance of the first building permit for Z-98-71. Developer shall have the opportunity to review the preliminary design and cost estimate, and provide the City with comments and proposed changes. The City may revise the design and cost estimate based upon Developer's input. Developer shall pay the revised estimated cost to the City prior to the issuance of the first building permit for Z-98-71. (b) The City shall consult with the Developer prior to finalizing the bid specifications for the Improvements, and the City may incorporate any changes to the Improvements proposed by the Developer. During the course of construction of the Improvements, the City shall consult with the Developer regarding any change orders which exceed $5,000.00 for an individual item, or in the event the aggregate sum of change orders exceeds $20,000 for the Improvements. Developer acknowledges that time is of essence with regard to change orders during the course of construction, and Developer shall respond to City's request for input within 2 days of contact. The City reserves the right to execute a change order without consulting Developer if an emergency situation requires immediate action. Furthermore, Developer acknowledges that any comments it provides to the City regarding change orders are advisory only, and the City reserves the right to take any action which the City deems most appropriate. (c) Within sixty (60) days after filing a Certificate of Completion for the Improvements, the City Engineer shall present to the Developer a statement of the actual costs of the construction work and related items incurred for the Improvements ("Statement of Costs"). Developer shall have the right to review all records and invoices related to the Improvements to verify the Statement of Costs. If the Statement of Costs exceeds the estimated sum paid by the Developer, the Developer shall have thirty (30) days to pay the City any additional sums due. If the Statement of Costs is less than the estimated sum paid by the Developer, the City shall have thirty (30) days to refund to the Developer any excess. (d) If agreement on the Statement of Costs cannot be resolved to the satisfaction of both the City Engineer and the Developer, the City Manager shall make the final determination as to 2