13 - Agreement with Nash for cost sharing of improvements - Johnson Woods Creek

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WHEREAS, NASH and the CITY have agreed to share costs on the installation of the gabion wall on NASH's property; WHEREFORE, NASH and the CITY hereby agree as follows: 1.01 Description of Project: Design, engineering, and construction of a gabion wall along Johnsons Woods Creek at the rear of NASH's property located at 645 Johnsons Woods Drive, Paris, Texas, 75460, ("the Project") to wit: 1.02 Cost Sharing: The cost for completion of the Project is estimated to be $51,175.00. CITY has agreed to contribute TWENTY-FIVE THOUSAND AND NO/100 DOLLARS ($25,000.00) toward the cost of the Project. NASH agrees to contribute any and all additional funds to complete the Project. 1.03 CITY's Obligations: CITY will contract with a professional engineer to design the improvements, develop plans and specifications, and oversee bidding and construction of a gabion basket wall, connecting the recently constructed wall to an existing sackrete wall, repairing a section of the channel that has suffered severe erosion. CITY is responsible to manage all contracts for design and construction, and pay for services as indicated herein: - CITY will invoice NASH for one half of engineering contract at time of contract award, which will be held in an account set for this project. - CITY will pay all invoices for engineering associated with the project. - CITY will notify NASH of the cost of construction, as determined by actual construction bids, and will not proceed with construction activities until NASH acknowledges the final cost and remits payment to CITY. - CITY will invoice NASH for one half of the construction cost up to the amount at which the CITY's contribution from both engineering and construction expenses reaches $25,000. - CITY will invoice NASH for 100% of remaining cost once the total CITY contribution reaches $25,000. - CITY will pay all invoices owed to the construction contractor pursuant to the construction agreement. 1.04 NASH's Obligations: The NASH's will contribute one half of all project costs up until the CITY contribution reaches $25,000, at which point the NASH's will be responsible for the remainder of all costs. NASH will make necessary payments to the CITY, who in turn will oversee the design and construction contracts. Payments are due at time of invoicing and prior to beginning the work. 1.05 Nothing in this Agreement shall be construed as implying any partnership or joint venture of NASH and the CITY.. 2