08-09-2000 Council Agenda - Laserfiche WebLink

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4.02 Accounting Requirements. Within thirty (30) calendar days after the effective date of this agreement, the Council will transfer to the City the amount of $70,000.00. The City will deposit the funds in a separate Project account which it shall manage. The City shall disburse funds from the account in payment for Third Party Contractor services in accordance with billings received and the payment schedule in the City's contract with the Contractor. The City may also disburse funds from the account on payment of the City's administrative costs for Project work. If, at any time before completion of construction, the account balance falls below $10,000.00, the City may request additional funds from the Council, up to the amount stated in paragraph 4.01. Before termination of this agreement, the City shall provide an accounting of receipts and expenditures to the Council together with evidence of full payment by the City to the Third Party Contractors and any subcontractors for the Project work. If any balance remains in the fund, the City shall promptly refund the balance to the Council. V. EASEMENTS AND ACCESS 5.01 Construction. Without cost or expense to the Council, the City is responsible for securing for the City and the Council all access rights, rights of entry, and easements necessary for such personnel, equipment, and materials as are reasonably necessary for the purposes of performing the City's and the Council's obligations or exercising their rights under this agreement. The City hereby grants to the Council the right to enter onto the City's property and any easements and rights -of -way the City has or will have obtained for the Transit Hub Project, for the purpose of the Council's performance or inspection of any aspect of the Project. 5.02 Transit Use. Without cost or expense to the Council, the City grants to the Council all access rights, rights of entry, or permits which the Council requires for access upon and use of the Project for all regional public transit purposes, including maintenance of the Project improvements. Such rights or permits shall include rights of ingress and egress, rights to support for the Project improvements, rights to post regional public transit- related signage, and necessary utility access. The rights or permits permits shall be in a form and content acceptable Page 25