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OTHER-2022-019-Second amendment to development agreement
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OTHER-2022-019-Second amendment to development agreement
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Last modified
4/27/2022 9:12:06 AM
Creation date
4/27/2022 9:11:09 AM
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BOCC
Date
4/26/2022
Meeting Type
Business
Document Type
Others
Agenda Item
8-j
Document Relationships
Agenda 04-26-22; 8-j - Second Amendment to the Development Agreement for the Construction of a Shared Government Facility at 203 South Greensboro Street, Carrboro, NC
(Attachment)
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\Board of County Commissioners\BOCC Agendas\2020's\2022\Agenda - 04-26-2022 Business Meeting
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WHEREAS , it is the intent of the Parties that except as further amended by this Second <br /> Amendment, the terms of the Original Agreement shall remain in full force and effect; and <br /> WHEREAS , the Town is authorized to enter into this contract pursuant to , inter alga, the <br /> North Carolina General Statutes ("N. C . G . S. ") 160A- 16 , and the County is authorized to enter into <br /> this contract pursuant to , inter alga, North Carolina General Statutes 153A41 , et seq. , and the <br /> Town ' s Town Council and the County ' s Board of County Commissioners have each determined <br /> that it is in the best interests of their citizens to do so . <br /> NOW, THEREFORE , in consideration of the mutual promises and covenants contained <br /> herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby <br /> acknowledged, the Town and the County intending to be legally bound do hereby agree as follows : <br /> 1 . The Parties substitute the attached Partner Cost Allocation Plan prepared by Perkins & <br /> Will and dated February 23 , 2022 as Exhibit C to the Agreement . To the extent that <br /> there is any discrepancy between the project cost reflected in the Partner Cost <br /> allocation Plan (Exhibit C) and the GMP , the GMP shall control ; however, . the Partner <br /> Cost Allocation percentages as shown on Exhibit C controls as to allocation of the <br /> GMP) . All previous cost allocations for the Project are null and void . <br /> 2 . Either Party may decide to seek bid alternates affecting their allocated space in the <br /> Project . In the event that a Party does award an alternate bid affecting its space only, <br /> then that Party shall bear 100 % of any additional cost or of any savings realized as a <br /> result of the bid alternate . <br /> 3 . Notwithstanding anything in the Agreement or the First Amendment to the contrary, <br /> the Parties each agree to pay their proportionate share of the Project costs as reflected <br /> on Exhibit C . The Town shall invoice the County Finance Office on a regular basis , <br /> not more frequently that once each month, for reimbursement of Project costs , and the <br /> County shall pay its share of such costs pursuant to the invoice within thirty (30) days <br /> of receipt of the Town ' s invoice . <br /> 4 . Except as specifically amended by this Second Amendment, the terms of the <br /> Agreement (as amended by the First Amendment) , remain in full force and effect . <br /> [signatures contained on next page] <br /> 2 <br />
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