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55A - AGMT LEGACY APARTMENTS
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55A - AGMT LEGACY APARTMENTS
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12/10/2020 5:00:39 PM
Creation date
12/10/2020 4:55:21 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
55A
Date
12/15/2020
Destruction Year
2025
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10.3 Change Orders. The contract for construction shall not be modified except <br />pursuant to change orders. All change orders in excess of $30,000: <br />(a) Shall be in writing, numbered in sequence, signed by <br />Developer and submitted to City prior to the proposed effectiveness thereof and <br />accompanied by any working drawings and a written narrative of the proposed change; <br />and, <br />(b) Shall be subject to the City Project Manager's prior written <br />approval. <br />10.4 Entry and Inspection. At all times prior to completion of the construction, <br />upon reasonable prior written notice and subject to reasonable job site safety rules, City <br />and its agents shall have (a) the right of free access to the Property and all sites away from <br />the Property where materials for the construction are stored, (b) the right to inspect all labor <br />performed and materials furnished for the construction, and (c) the right to inspect and <br />copy all documents pertaining to the construction. <br />10.5 [RESERVED] <br />10.6 Construction Information. From time to time during the course of the <br />construction, within ten (10) Business Days following City's written demand therefore <br />and/or in connection with each draw, Developer shall furnish requested reports of Project <br />Costs, progress schedules and contractors' costs breakdowns for the construction, itemized <br />as to trade description and items, showing the name of the contractor(s) and/or <br />subcontractor(s), and including such indirect costs as real estate taxes, legal and accounting <br />fees, insurance, architects' and engineers' fees, loan fees, interest during construction and <br />contractors' overhead. <br />10.7 Protection Against Liens: Developer shall diligently file a valid Notice of <br />Completion upon completion of the construction, diligently file a notice of cessation in the <br />event of a cessation of labor on the construction for a period of thirty (30) days or more, <br />and take all actions reasonably required to prevent the assertion of claims of lien against <br />the Property. hi the event that any claim of lien is asserted against the property or any stop <br />notice or claim is asserted against the City by any person furnishing labor or materials to <br />the Property, Developer shall immediately give written notice of the same to City and shall, <br />promptly and in any event within ten (10) Business Days after written demand therefor <br />from the City, (a) pay and discharge the same, (b) effect the release thereof by delivering <br />to City a surety bond complying with the requirement of applicable laws for such release, <br />or (c) take such other action as City may require to release City from any obligation or <br />liability with respect to such stop notice or claim. <br />11. PROJECT COVENANTS <br />11.1 Affordable Rent Schedule. The rents shall be determined by the <br />regulatory agreements entered into between the Developer and the California Tax Credit <br />Allocation Committee governing the Project. <br />55A-34 <br />
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