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d~i~ ~ provided. specifications are approved or approved, as above fhey shall be changed only by Wliften ~ duly signed by the and Equitable, or ifa agent. The 30 day periods above may be extended for an additional days upon request by the .RTB given Bquitable prior to end of 30 day period. 1.3. Construction. Prom.ptly after approval of the design and plans s~ca~()%\S fur the Transit Hub Improvements, l:quitableshaU cause ~,;'fi'~it Htib'Improvetnents to be constructed. The parties anticipate that construction shall occur as part of other COnstruction activities at Rosedale, ,and specifically agree that construction of the Transit Hub Improvements shall commence not later than April 1, 1992, and shall be substantially completed according to the material provisions of the approved plans and specifications, as changed by Wliften change orders, by not later than June 1, 1992. The above commencement and substantial cOmpletion dates are subject, however, to the provisions of paragraph 6.9(a) hereof. 1.4> Payment to Equitable. (a) It is understood and agreed that the design of, preparation of the plans and SPecifications for, and construction of the Transit Hub Improvements shall be managed and done by Equitable. The City agrees to pay-to Equitable (i) 50% of all costs incurred by Equitable in connection with the design of and preparation of the plans and specifications for, and the preparation of bidding documents for, and the bidding itself for, the Transit Hub Improvements, and (li) 100% of all costs inCUlTed. by Equitable in connection with. the construction of the Transit Hub Improvements. However, the total amount to be paid by City for such oosts at (i) and (il) above shall not exceed. the sum of F,our Hundred ThOUSand Dollars ($400,000). Equitable shall give to City each month a statement for all such costs incurred during the then prior month, and City shall pay such statement within thirty (30) days after it is given to City; provided, however, that the first statement given by Equitable after signing this Agreement may be for all costs incurred by Equitable up through the month prior to the month in which such statement is given. If any statement is not paid in full within said thirty (30) day period, then the unpaid portion of the statement shall bear interest at 12% per annum from the date of the statement until paid, and any partial payment of a statement shall be applied first to accrued interest and then to principal. The costs to be paid by City shall include all costs and fees paid or incurred by Equitable to architects, attorneys, engineers, contractors, subcontractors, material suppliers, laborers, and its own employees.. agents and representatives, due to or arising in connection with the design of, the preparation of plans and specifications and bidding documents fur, the taking of bids for, and the construction of. the Transit Hub Improvements, => ) .~ -4-