06-23-14 Council Packet - Laserfiche WebLink

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b. The draw request by the Developer for the requested disbursement. c. Written Approval by the City of the disbursement request, which approval shall (i) not be unreasonably withheld or delayed, and (ii) be provided within ten (10) business days following the date submitted by the Escrow Agent [in accordance with Paragraph 7 below] with confirmation from the Escrow Agent that Developer has provided all of the items required to be submitted under this Paragraph 3. Failure by the City to respond to such request within such 10 business day approval period shall automatically be deemed to be City's approval to same. Escrow Agent may communicate with City electronically relative to these requests. d. Full or partial, up-to-date lien waivers; plus affidavits supporting lien waivers and releases of lien if necessary, in a form satisfactory to Escrow Agent and City. e. A list showing each Contractor/Vendor to be paid from the current Draw Request, the amount of payment, and the category of cost as shown on the Sworn Construction Statement for which such payment are to be made. f. Such other supporting evidence as may be reasonably requested by the City or Escrow Agent to substantiate all payments that are to be made out of the relevant Draw Request and/or to substantiate all payments, then made with respect to the Project. 4. Escrow Agent's charges for all of the escrow services to be provided for pursuant to this Agreement are $150.00 per draw. 5. No draw requests shall be made by Developer while another is pending or in the event the City has declared default under the Development Contract & Planned Unit Development Agreement. 6. At the time of submission of the final Draw Request, which shall not be submitted before completion of the Project, including all landscape requirements, Developer shall submit to City and Escrow Agent, in addition to the requirements listed in Paragraph 3 above the following: a. A written lien waiver from all Contractors for work done and materials furnished for the Project. b. Such other supporting evidence as may be reasonably requested by the City or Escrow Agent to substantiate all payments, which are to be made out of the final Draw Request and/or to substantiate all payments, then made with respect to the Project. 2