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Redevelopment Commission Agenda & Packet 9.26.24 - Signed
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Redevelopment Commission Agenda & Packet 9.26.24 - Signed
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9/30/2024 4:27:32 PM
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Board of Public Works
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FREG Stephenson: FREG Stephenson Mill Associates, LLC c/o Forum Management, Inc. 4500 Cherry Creek Drive South, Suite 550 Glendale, CO 80246 Attn: Luke Davis With a copy to: Fisher & Suhr, P.C. 1125 17th Street, Suite 710 Denver, Colorado 80202 Attn: Edie M. Suhr, Esq. 5) REIMBURSEMENT OF FEES A. Concunent with the execution and delivery of this Agreement, and predicated upon the submission by FREG Stephenson of sufficient documentation thereof, the City shall reimburse FREG Stephenson for attorneys' fees and costs incuned in connection with the Project to date including, but not limited to, prior negotiations of the Temporary License Agreement For Site Examination, any Memorandum of Understanding and this Agreement. FREG Stephenson acknowledges receipt of payment of Five Thousand Dollars ($5,000), which represents the fees required by FREG Lemler to be submitted concunent with FREG Stephenson's request to review and consider this Agreement. B. In addition to the closing costs to be paid by the City pursuant to Sections 2) H and 2) I. above and the reimbursement obligations set fo1th in Section 4) A. above, the University agrees to reimburse FREG Stephenson and FREG Central for (i) the cost for services provided by Keller pursuant to Section 3)B.1., (ii) $6,000 for the cost of new appraisals required by FREG Lender, and (iii) attorneys' fees or costs (including but not limited to additional lender fees and costs) which exceed amounts already paid under this Agreement, incurred in connection with closing the transaction contemplated by this Agreement. C. The City and the University agree to resolve any excess payments made on the others behalf in a timely manner post-closing. 6) MISCELLANEOUS A. The Patties will coordinate press releases concerning the Project if any proposed statement includes any reference to any other Patty. To the extent possible, each Party shall provide notice and advance copy of press releases to the public relations office of the other patties in advance of public release. 10
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