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PRUDENTIAL INSURANCE REIMBURSEMENT AGREEMENT 1984
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PRUDENTIAL INSURANCE REIMBURSEMENT AGREEMENT 1984
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LONG TERM AGREEMENTS
LONG TERM AGREEMENTS - DOCUMENT DATE
4/17/1984
LONG TERM AGREEMENTS - NAME
PRUDENTIAL INSURANCE
LONG TERM AGREEMENTS - TYPE
REIMBURSEMENT AGMT
LONG TERM AGREEMENTS - RECORD SERIES
704-06
LONG TERM AGREEMENTS - DESTRUCTION DATE
PERMANENT
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THE PARTIES HEREBY AGREE AS FOLLOWS: <br />1. The City shall use its best efforts, including use of <br />its power of eminent domain and right to immediate possession, to <br />acquire all those rights-of-way and other interests necessary <br />for the Pimlico Drive relocation and widening, as those interests <br />are finally determined prior to construction, and for the Santa <br />Rita F_oad interchange improvements to be located in the southeast <br />quadrant of the interchange of Santa Rita Road with Interstate <br />Freeway 580. <br />?.. Prudential shall pay for all costs reasonably necessary <br />for the acquisition of the above-referenced rights-of-way and <br />other interests. <br />(a) Prudential shall advance to City, within fifteen <br />(15) calendar days after receipt of a written <br />request from the City, funds reasonably necessary <br />to secure the immediate possession of the interests <br />to be acquired pursuant to any eminent domain <br />action undertaken by City. <br />(b) Prudential shall reimburse City for all costs <br />incurred by City pursuant to any eminent domain <br />action settlement agreement, or any other action <br />undertaken by City. City shall bill Prudential by <br />invoice for reimbursement on a periodic basis as <br />City incurs costs. Reimbursement payments shall <br />be due and payable to City thirty (30) days from <br />the date of invoice. <br />(c) In the event of agreement for acquisition of the <br />necessary rights-of-way or other interests with <br />-3- <br />
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