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BOC Files (Folders 1-3)
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CS_Courthouse Square
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Last modified
9/19/2012 4:07:50 PM
Creation date
8/2/2011 3:23:53 PM
Metadata
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Template:
Building
RecordID
10068
Title
BOC Files (Folders 1-3)
Company
Marion County
BLDG Date
1/1/1999
Building
Courthouse Square
BLDG Document Type
Project Coordination
Project ID
CS9801 Courthouse Square Construction
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The condominium will be governed by an Association. Each unit owner is a member of <br />the association. The county and the district will appoint a representative. The association will set <br />the budget for repair, maintenance and replacement of the condominium common elements, <br />maintaining insurance of condominium, including all improvements; will provide for the <br />maintenance; and will conduct all official business of the Association, including amendments to <br />the declaration and bylaws. <br />Use of the office units is for government and private leased office space and transit related <br />facilities for the transit office unit. Use of the mall is limited to transit related purposes. <br />The condominium documents protect the ability of the parties to pledge their unit <br />ownerships as security for financing the project, and protect against any amendments to the <br />declaration and bylaws that would conflict with that security. <br />Exhibit C--North Pad Ground Lease <br />The lease term is 75 years. The county and the district are the owners of the land, which <br />is roughly a pad of land running the length of Chemeketa Street and running 50 feet deep. Rent is <br />set at fair market value for the land, adjusted periodically. The uses are retail, office, residential, <br />hotel and other transit related uses. The lease will include easements, if needed, for underground <br />parking development and for an overhang to allow upper stories of any multi-story building to be <br />wider than the footprint of the building. Upon expireation of the lease, the improvements belong <br />to the land owners. Provision is made for leasehold mortgages in order to allow a developer <br />access to funds for construction. <br />Exhibit D--Resnective Shares <br />This exhibit is a cost allocation formula developed by the parties to set out how costs will <br />be shared for construction and other purposes part of the project. The construction cost formula <br />is subject to adjustment as provided in section 1.40 of the development agreement. <br />Land costs are divided as follows: 31.29% Transit, and 68.71% County. <br />Construction costs are divided as follows: 31.42% Transit, and 68.58% County. <br />Special services, which the parties may require, will be negotiated. <br />Change orders will be process by the Project Coordinators as provided in the development <br />agreement. <br />The estimated construction cost is $22,128,163, including $1,691,150 for streetscape. <br />Exhibit E--Schedule of Performance <br />The schedule covers the main activities, such as design, bidding, financing, construction <br />
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