GREENBRIAR HOMES - REIMBURSEMENT AGMT CONSTRUCTION OF VINEYARD AVE.

quantities. When the Construction Manager and the General Contractor have agreed on the cost of Improvements, including the final quantities, Exhibit A S shall be revised and submitted to City for the City Engineer's review and approval, which approval shall not unreasonably be withheld. City shall also reimburse the Construction Manager for professional fees reasonably incurred for engineers, designers and similar consultants in connection with the Improvements and other professional services and/or costs as determined and agreed by the City and Construction Manager. The proposed list of professional service providers and the estimated amount of professional fees are attached as Exhibit B. When the actual list of professional service providers and their fees are known, Exhibit B shall be revised and submitted to City for the City Engineer's review and approval, which approval shall not unreasonably be withheld. City shall also pay the Construction Manager a management fee of five percent (5%) of the costs of the Improvements and of the professional fees other than on the fees for the preparation of plats and legal descriptions. The Construction Manager shall submit to the City for review any change orders between the Construction Manager and the General Contractor and between the Construction Manager and the professional service providers. City and the Construction Manager shall agree on the scope of work and price of all change orders prior to the approval of any given change order. In order to avoid delay, City agrees to respond to any request for change order approval submitted by • Construction Manager within twenty-four (24) hours from the date the City receives said request. 3. Method of Reimbursemen A. The Construction Manager shall submit for review a request for reimbursement, listing for the General Contractor the amount and value of the Improvements actually constructed and for the professional service providers the services provided and the cost therefor. Upon the City Engineer's review and approval, including adjustments if any, City shall make a reimbursement payment to the Construction Manager within 20 days of the City's receipt of the request. B. Ten percent (10%) of the reimbursement due for work performed by the General Contractor shall be retained by the City as a retention. The City shall retain said ten percent of the reimbursement for thirty days after the Notice of Completion for the Improvements is recorded, after which time the retention, assuming there are no valid stop notices to prevent the City's releasing said funds, shall be released to the Construction Manager. X:WDMI]V\PGSM\Council 2003\Vineyard Ave Improvement Reim Agreement attach sr 03 174.doc 2