Ordinance 2587-02 - Laserfiche WebLink

• 5.7 Sufficiency of Project Fund to Complete Project. During the construction of the Project, the Project Fund shall, at all times, be "in balance," which shall mean that the undisbursed portion of the funds in the Project Fund plus the amount of all commitments for short-term borrowing available to the District shall equal or exceed the amount reasonably estimated by the District to pay for all work done or to be done but not yet paid for by the District (including construction reserves as provided for in the Project Budget) to complete construction of the Project. The District shall promptly notify the City in writing upon its knowledge that the Project Fund is not in balance, and if so, the District shall, either reduce costs of the Project or cause additional funds to be deposited in the Project Fund to the extent necessary to bring the Project Fund into balance. 5.8 Change Orders to Contract Time and/or Price. The District shall establish and implement a change order control system. The District shall require the Contractor to submit to the District detailed information concerning the cost and time adjustments, if any, as may be necessary to perform the proposed change order work. The District shall review the contents of requests for changes to the contract time and/or price submitted by Contractor, assemble information concerning the request, and endeavor to determine the cause of the requests and determine whether or not to accept such requests. No change order that will delay the Project Schedule or increase the contract price of the Project by more than $50,000 shall be executed by the District or become effective without the prior written approval of the City representative. If a change order requires City approval, the City shall notify the District within three business days after receipt of the change order request of the City's approval or disapproval thereof, and, if the City does not so notify the District within that period, the change order request shall be deemed to have been approved. 5.9 "As-Built" Plans. Promptly after completion of the construction of the Project, the District will certify to the City that a complete set of "as-built" plans has been prepared and delivered to the District. The District shall maintain such "as-built" plans at its offices in the Regional Center, which shall be available for review by the City. Such "as-built" plans shall be on CADD electronic files in a format determined by Contractor unless CADD electronic files are not reasonably feasible for certain portions of the work, but in any event the "as-built" plans shall be prepared in a clear manner acceptable to the City. Such CADD electronic files shall include mechanical, electrical, video, telecommunications and security drawings. 6. MANAGEMENT AND OPERATION OF REGIONAL CENTER. Because of the City's financial participation with respect to the Regional Center described in Section 4 of this Agreement, the District recognizes that the City has a strong interest in ensuring that the Regional Center will be managed and operated in an efficient and profitable manner so that the District is financially capable of meeting its obligations to pay operating and maintenance expenses of the Regional Center; meeting the debt service requirements on all Permitted Debt; and generally successfully operating and maintaining the Regional Center for the benefit of all -10- INTERLOCAL FINANCING AGREEMENT 20020 3010 6 8 0