CCP 03-09-1987 - Laserfiche WebLink

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I ... ,.-... Pa&e 2 Glenhill Igreelllent . 6. lrden Bills and Roseville agree to share the oosts of both tba .ConstMlotion Cost. and all of the above IIlentioned engineeriDg 8%penses. lrden Bills agrees to pay 46J of tbe total oost of the project, and Roseville agrees to pay the remainiDg 5"J of tbe total ooat of tbe project. T. lrdan Bills agrees to pay its ahare of tbe oosts based on tbe above referenoed feasibility study estimate within 60 calendar daya of the receipt of tbe request for said payment. Said request would follow tbe award of tbe oontract by tbe City of Roseville. In tbe event lrden Bills chooses to delay payment beyond the 60 day period, 1lltereat would be charged at the rate of 7.5J per annum from the date of the invoice to lrden Bills until the Payment is received by Rosev!lle. ~rden Bills agrees that in no event shall tbe payment of the full lUlOunt be delayed beyond July 1, 1988. 8. When all oosts of the project includiDg the .ConstMlction Costs., eng1DeeriDg costs, and other oosts are fiDal and known, Roseville vill notify Arden Bills of tbis amount. Based on tbe participation percentages by each oommunity agreed upon in Item 6 above, lrden Billa would either be reimbursed within 60 days for tbe amount of over payment if said ahould be the case, or notified of the amount of under pa,.ent if said sbould be the case. Said underpsyment likewise be1llg payable to Roseville vi thin 60 days. Such a settlement based on . the differential between tbe estimated oosts and actual oosts being applicable only if Arden Billa had previously submitted ita share of the costs to Roaeville. If said prior payments had not been done by that time, then the Arden Bills share of actual oosts vould be the figure used for the caloulation of 7.5J annual interest payments. II WITJlESS WHEREOF, tbe parties bave bereunto &tfued their signatures. 'CITY OF ROSEVILLE CITY OF ARDEIl HILLS By By Its Its Date Date By BY. Ita Ita '.'. Date Date i ----.-