BOC Files (Folders 1-3) - Laserfiche WebLink

Home Browse Search

approved in writing by the Authorized Disbursement Officers. The Project Manager shall present to the Project Coordinators a Progress Payment Request detailing such Project Costs ~' and other amounts as may be due and owing for services, work, materials or labor in connection with the Projec~ The Project Manager shall present requests for Project Manager's Compensation separately from other Progress Payment Requests. The Project ~ i Coordinators shall review and approve or disapprove each Progress Payment Request within I: ten (10) business days from the receipt thereof. If the Project Coordinators disapproves of a Progress Payment Request or any item included therein, it shall notify the Project Manager in - writing of such disapproval, specifying the reasons therefor. To the extent the Project ~ Coordinators approve a Progress Payment Request or any items~ included therein, it shall -• prepare and deliver to the County and the Transit District a Disbursement Account Funding Request. Within two (2) business days from the daie of each Disbursement Account Funding ~ Request, the County and the Tisnsit District shall each deposit, or cause to be deposited, into ~ r the Disbursement Account unmediately available funds in the respective amounts specified in such Disbursement Account Funding Request. Upon receipt of such funds in the _ Disbursement Account, the Project Coordinators shall disburse the same to the person(s) to f ~ whom such Project Costs and other amounts as may be due and owing for sernces, work, : ! materials or labor in connection with the Project in a prompt manner so that the disbursement will comply with applicable FTA requirements and permits the Transit District to draw down funds under its FTA grant. The Project Manager will be responsible for o6taining all ~i affidavits, releases and waivers of lien from the General Contractor and all subcontractors in ~ connection with the payment of any Project Costs, and to that end the Project Coordinators shall coordinate with the Project Manager its payments from the Disbursement Account. ~ (vi) Construction Claims. The Project Coordinafors shall review any construction claims or requests for remediaUwarranty work resulting from the Project Improvements. The Project Coordinators shall determine the owners' position on such claims or requests within ten (10) ~ business days of the Project Coordinators' receipt thereof. (vii) Administrative Costs. The Project Coordinators shall review and, upon its approval, authorize payment from the Disbursement Account of all reasonable and necessary costs of ~ administering the activities of the Project Coordinators, such as the cost of managing the disbursement account, memorializing the Project Coordinators' activities, and maintaining the records and files of the Project Coordinators. (viii) Approvals. Notwithstanding any other provision herein to the contrazy, all decisions relating to the transit mall shall be made exclusively by the Transit District; all decisions relating to the pazking structure shall be made exclusively by the County; a11 decisions relatu~ to the interior layout or design of a Party's space shall be made by that Party (to the extent such decisions do not iacrease the Project Cost borne by the other Party); and all other decisions (except those made by the governing bodies of the Parties) relating to or affecting the Project shall be made by the unanimous agreement of the Project Coordinators. In the case of a deadlock of the Project Coordinators, the governing bodies of the Parties shall make a decision, with the assistance of a mediator if necessary. `( (ix) Advances. In the event that a Party has paid more than its Respecti~+e Shaze of a ~ J, Project Cost (including a progress payment or mterim payment of a Project Cost) (an Advance ), the other Party shall repay the amount of the Advance within 30 days following demand accompanied by invoices and other information and supporting documentation. In } the event that both Parties have made an Advance with respect to various Project Costs, then the amounts may be offset by proper debits and credits under applicable accounfing procedures govemmg the reporting and accounting of Project expenses. 1 . I ~ Courthouse Square Development Agreement Page - 12 ~~