12 - Love Civic Center Renovation Project LCCC Agreement for Expense Assistance

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4. The City will use the remaining CO funds to pay for additional services from WRA Architects and to fund the construction contract with Tegrity. 5. There are insufficient funds remaining from the CO to fully fund the contract with Tegrity. 6. Once City exhausts the remaining CO funds, LCCC agrees to fund the balance of the contract with Tegrity in the approximate amount of $225,000.00 (the "Balance"). The parties agree that this amount is only an estimate and that the final amount of the Balance will depend on several factors, including but not limited to, expenses incurred by WRA Architects, and any change orders that may arise during the course of the Project. LCCC agrees to assume the risk that the Balance may be greater than the estimated amount and agrees that City will not allocate funds over and above the remaining CO funds recited herein for the Project. 7. As LCCC is not a party to the contract between City and Tegrity, LCCC will pay the Balance due and owning under this Agreement to City, and City will disburse the funds to Tegrity. City will invoice LCCC at such time as funding from LCCC is required and as set forth herein, and LCCC agrees to pay such invoice or invoices within fourteen (14) days of its receipt of said invoice or invoices. LCCC agrees that due to the nature of the completion, closing out, and acceptance of construction projects, the City may be required to issue LCCC multiple invoices. 8. CITY and LCCC each bind themselves and their successors, executors, administrators, and assigns to the other party to this contract and to the successors, executors, administrators, and assigns of such other party in respect to all covenants of this Contract. Neither CITY nor LCCC shall assign or transfer its interest herein without the prior written consent of the other. 9. All notices and communications under this CONTRACT to be mailed to CITY shall be sent to the address of CITY's agent as follows, unless and until LCCC is otherwise notified: City Manager City of Paris Post Office Box 9037 Paris, Texas 75461 Notices and communications to be mailed or delivered to LCCC shall be sent to the address of LCCC as follows, unless and until CITY is otherwise notified: