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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />46 <br />PAYMENT OF COSTS AGREEMENT <br />WHEREAS, Wal-Mart Stores, Inc. ("Applicant") has requested the City of Roseville <br />("City") to retain the City's consultant to review the Twin Lakes Street Improvements plans and <br />specifications and environmental site assessment documentation, and to have City staff perform <br />work pertaining to the City Improvements described in Exhibit A attached hereto; and <br />WHEREAS, the work to be performed by the City's consultant and other work to be <br />performed (collectively the "City Work") is described in Exhibit B attached hereto; and <br />WHEREAS, the City will incur costs with respect to the performance of the City Work; <br />and <br />WHEREAS, the City is willing to perform the City Work provided the Applicant, among <br />other things, escrows with the City the amount of $8,280 ("Escrow Amount") to guarantee that <br />the City will be paid for the cost of the City Work and executes this Agreement which sets forth <br />the terms and conditions by which the Escrow Amount will be received, retained and disbursed; <br />NOW THEREFORE, in consideration for the City performing the City Work, the <br />Applicant agrees as follows: <br />1. The Applicant agrees to pay the City all costs incurred by the City in connection with the <br />City Work. The cost for City employee's providing City Work shall be determined by <br />multiplying the employee's hourly rate times 1.9, times the number of hours eXpended, <br />for all employees (including administrative employees) involved in such work and all <br />communications and coordination related thereto. For all others (including the City's <br />consultant) the cost shall be the actual cost charged the City. At this time, the City <br />employee costs is estimated at $3,000. <br />2. The Applicant agrees to deposit with the City the Escrow Amount at the time of the <br />execution and delivery of this Agreement to the City. <br />3. The City shall have the right to draw upon the Escrow Amount to pay all costs incurred <br />by the City in connection with the City Wark as such costs are billed to or incurred by the <br />City. If at any time prior to the completion of the City Work, the City determines that the <br />Escrow Amount will not be adequate to pay the full cost thereof, the City may require <br />that the Applicant pay to the City an additional amount equal to 125°/o of the amount of <br />the deficiency, as reasonably determined by the City, before any further City Wark is <br />performed. <br />4. In the event that when all of the City Work has been completed, the City determines that <br />the Escrow Amount exceeds the actual costs incurred by the City in connection with the <br />City Work, any excess shall be returned to the Applicant, without interest, within 30 days <br />after all of the City Work has been completed. In the event the Escrow Amount is less <br />than the actual costs incurred by the City in connection with the City Work, the Applicant <br />1 <br />