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2000-266H
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Last modified
7/18/2024 3:41:42 PM
Creation date
7/18/2024 3:15:25 PM
Metadata
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
09/07/2000
Control Number
2000-266H
Agenda Item Number
10.B.7.
Entity Name
Los Angeles Dodgers, Inc.
Subject
Application for Certification of retained Spring Training Franchise to
Florida Office of Tourism, Trade & Economic Development
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ARTICLE VIII <br />PAYMENTS TO DODGERS <br />8.1. Fr_osect Cast, In consideration of the performance and subject to the conditions of <br />this Agreement, the Design Build Firm shall be paid for their Services solely from the Construction <br />Fund, the Capital Reserve Account and Dodgers' Funds. The Project Costs shall be paid to the <br />+ Design Build Firm, and to ail subcontractors of the Dodgers or the Design Build Firm, in accordance <br />with the Draw Schedule, which will be a part of the Design Build Agreement (as amended from time <br />N to time) and the further provisions of this Article. Prior to commencement of construction, pursuant <br />to the Draw Schedule, the Dodgers shall be authorized to pay the Design Build Firm, Dodgers and <br />the County (to the extent the County its expressly entitled to reimbursement) soft costs (including a <br />' mobilization payment) (as well as hard costs for any authorized Improvements paid for by the <br />" Dodgers prior to the Effective Date), all of which amounts shall be reimbursed upon submission of <br />a Requisition executed by the Dodgers and approved by the County, pursuant to the terms and <br />" conditions of the Bond Resolution and this Agreement. A portion of the Project Costs are allocable <br />i to development and other preconstruction services rendered by the Dodgers, the Design Build Firm <br />or County (as to the County, to the extent expressly set forth herein) prior to commencement of <br />construction. <br />w <br />8.2, Replenishment of Construrtion-Eund.It shall be the responsibility of the Dodgers <br />to monitor the Draw Schedule, progress Payments, progress of construction and the funds remaining <br />in the Construction Fund and to keep the County informed. If it appears that the funds remaining in <br />the Construction Fund will be insufficient to complete the Project, the dodgers at their option may <br />endeavor to reduce Project scope in order to stay within budget, or may request funds from the <br />Capital Reserve Account or provide Dodgers' Funds to pay for such additional costs. After depletion <br />of funds in the Construction Fund and the Capital Reserve Account, all remaining Project Costs shall <br />be paid by Dodgers' Funds. <br />8.3. Progress Payments. Progress Payments from the Construction Fund or the Capital <br />Reserve Account, subject to the procedures set forth herein, shall be made to the Design Build Firm <br />and/or to subcontractors of the Dodgers or the Design Build Firm each month in the amount of that <br />portion of the Project Costs properly allocable to the Services performed to date and that portion of <br />the Project Costs properly allocable to materials and equipment suitably installed or stored at the site <br />or at some other locations agreed upon by the parties, less the aggregate of previous Payments. The <br />County may, with the Dodgers' approval and request, procure materials directly, using the funds in <br />the Construction Fund or the Capital Reserve Account, Disbursements from the Construction Fund <br />shall be made to the Dodgers or the Design Build Firm and subcontractors of the Dodgers or the <br />Design Build Firm upon receipt by the County of a Requisition executed by the Dodgers. Title to all <br />material and work covered by Payments made shall be the sole property of the County, provided that <br />17 <br />
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