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Authorizing the execution of a development management agreement with Gerald D. Hines interests
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Authorizing the execution of a development management agreement with Gerald D. Hines interests
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4/25/2017 4:12:31 PM
Creation date
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
9/11/1978
Ord-Res Number
642-78
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3.3.6 Overtime work requiring higher than regular rates, <br />with prior consent of the City. <br />3.3.7 Electronic data processing services and rental of <br />electronic data processing equipment in connection with the <br />rendition of Additional Services pursuant to Article 5 hereof. <br />3.3.8 Premiums for the insurance the Development Manager <br />is required to maintain pursuant to Article 7 hereof. <br />3.3.9 Construction support activities, unless they are <br />provided by the contractors. <br />3.4 Termination Expenses are the expenses incurred by the Develop- <br />ment Manager, its employees or professional consultants in the <br />interests of the Project, after notice of termination is given or <br />the date of termination, and an amount computed by multiplying <br />the Development Manager's compensation for the Basic Services <br />rendered to the date of termination by either twenty percent if <br />notice of termination is given during the Design Phase or ten <br />percent if notice of termination is given during the Construction <br />Phase. <br />3.5 Upon execution of this Agreement the City shall make an <br />initial payment to the Development Manager in the amount of <br />$80,000, said payment shall be credited to the $495,000, or <br />sixty percent of the fixed fee, which the Development Manager <br />shall receive during the Design Phase of the Project. <br />- 5 - <br />
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