Resolution 3399 - Laserfiche WebLink

AMENDMENT NO. 1 to AGREEMENT FOR CITY OF EVERETT FIRE STATION NO. 4 THIS AGREEMENT is executed by the undersigned City of Everett, hereafter called "City, " and Lumpkin, Inc. , hereafter called "Contractor, " as an amendment to the Agreement between the City and Contractor for construction and lease-financing of Fire Station No. 4 , City of Everett Fire Department, Everett, Washington. 1. In lieu of the City' s requirement to provide the back-up commitment of Seattle-Northwest Securities Corp. to purchase Developer' s interests if no acceptable bids are received for the Certificates of Participation (COP's) , as set forth in Section 00110, "Outline of Lease-Financing Transaction, " the City and Contractor agree to the following provision in consideration of the covenants mutually recited herein: A. Notwithstanding anything to the contrary in the bid documents (including without limitation the Construction Contract) , if the Contractor shall construct the Facility in accordance with the bid specification and cooperate in all requirements of the Lease Financing Transaction, and the Lease Financing is not completed within 60 days of the Substantial Completion Date (which Substantial Completion Date is the first date on which all the following have occurred: (1) acceptance by the City of the Facility as substantially complete; (2) issuance of a temporary certificate of occupancy for the facility from the appropriate governmental authority; and (3) availability of the Facility to the City) , then the City covenants and agrees that, subject to the satisfaction by Contractor of each of the conditions described in Paragraph B below, it shall pay Contractor the full contract amount owed under the Construction Contract (less any damage offsets, but including any additional charges for change orders consented to by the City consistent with the terms of the Construction Documents, and less a deduction of the greater of (a) statutory