O-2007-3024-D - Laserfiche WebLink

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e e and construction support services will sometimes be called the " Phase ill Park Enhancement Costs". 4. NOW, THEREFORE, for and in consideration of the mutual covenants, agreements and benefits to the parties herein named, it is agreed as follows: TERMS: I. After execution of this Agreement and within thirty (30) days after notification by City that the Project is ready to bid, the FPEHOA shall transmit to City its check made payable to City in the amount of Thirty Five Thousand Dollars ($35,000) for its share of the Phase I Park & Basin Improvement Costs so that the Project can be let for construction bids. 2. The City shall administer the construction bid process by advertising and receiving bids on a "lowest bid meeting specifications" basis, for construction of Phase I Park & Basin Improvements for the Project in the manner similar to that of other City projects, and according to State law. 3. Upon receipt and tabulation of the bids for the Project, City will determine the responsible low bidder meeting specifications for the construction of Phase I Park & Basin Improvements for the Project. 4. In the event the contracted Phase I Park & Basin Improvement Costs are greater than the amount budgeted by City, including the FPEHOA share, City shall have the following options: a City may elect to pay the additional costs of the Phase I Park & Basin Improvement Costs of the Project, or, the FPEHOA may elect to pay the additional costs, or a combination of CitylFPEHOA funding for additional costs for Phase I. b. City may reject all bids and elect not to proceed with the letting of the contract and terminate this agreement as provided below. c. City may reject all bids and re-advertise for bids for construction of the Project in accordance with the approved drawings and specifications in the same manner as before and under the same conditions. d. City may negotiate a reduced Scope of Work to be agreed upon by both parties prior to re-bid or acceptance of alternate bids for this phase of the Project. 5. Within thirty (30) days after the bid opening, City shall award the contract to the responsible bidder who submits the lowest bid meeting specifications, in accordance with the usual and customary procedures of the City and according to State law. It is expressly agreed and understood that City reserves the right to reject all bids. In such event, the City, in its discretion, may either re-advertise for bids pursuant to the same understanding with regard to rejection of bids or terminate this agreement as hereinafter provided. The City's determination of the responsible Agreement - City of La Porte and FPEHOA, Page 2 of 7