C153701 Contract - Laserfiche WebLink

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,'---, " , i. Opon payment of Allottee's Construction costs, Allottee shall also 1) pay the SWSP Enterprise five percent (5%) of the Allottee's Construction Costs to be used by the SWSP Enterprise to pay for additional preconstruction costs not included in the payments set forth in paragraph 6.a. above, if any, and to pay for change orders under the construction contracts made necessary by changed or unforeseeable conditions, delays or other claims by the contractors (provided that the SWSP Enterprise shall reasonably pursue claims against third parties who may be liable for part or all of said delays or Claims) and 2) shall deposit in an interest bearing escrow account mutually acceptable to the SWSP Enterprise and the Allottee an additional five percent (5%) of the Allottee's Construction Costs (or Allottee shall deposit such amount in twelve (12) egual monthly installments, at its option, commencing on the date of payment of the Allottee's Construction costs) to be released upon mutual agreement of the SWSP Enterprise and Allottee for payment of change orders or other charges for Pipeline construction. The escrow account shall be terminated and any unused funds returned to the Allottee, and the SWSP Enterprise shall refund to the Allottee any portion of the five percent (5%) paid to the SWSP Enterprise pursuant to item I) above that is not used, when construction of the Pipeline has been finally completed, all contractors have been finally paid and all claims have been settled. ii. At such time that it appears that the five percent (5%) fund provided in paragraph 6.b.i., item 1), will be depleted, the SWSP Enterprise shall give at least fifteen (15) days advance written notice to all Participants accompanied by reasonable information regarding past change orders and the possible need for additional change orders, and may request additional contributions from the escrow account described in paragraph 6.b.i., item 2), or from other sources if the escrow account has been depleted. In the event that no Participant agrees to provide the additional funds, the SWSP Enterprise shall either complete construction of the Project, if possible, with the remaining funds available to it or proceed in accordance with paragraph 17 below. In the event that one or more Participants agrees to provide the additional funds, the SWSP Enterprise shall request in writing that all Participants provide their pro rata share of the additional funds and proceed pursuant to paragraph 6.b.iii. below. iii. Within thirty (30) days after the SWSP Enterprise's written request pursuant to , paragraph 6.b.ii. above, Allottee shall pay the SWSP Enterprise such additional funds as are necessary to complete construction of the Pipeline. The requirement to pay such additional sums shall be subject to annual appropriations or budgets of such sums by the Allottee. If Allottee is unable or unwilling to make such requested payments, Allottee shall automatically lose a portion of its allotted capacity in the Pipeline pursuant to the procedures set out in paragraph 8.b.i. below, and the Allottee shall have no further obligation to pay such sums or additional future sums related to the lost portions of its allotted capacity. iv. The SWSP Enterprise shall deposit all funds provided by the Allottee pursuant to paragraphs 6.b., 6.b.i., 6.b.ii. and 6.b.iii. above in an interest bearing account and shall credit the Allottee with the interest earned on said funds. 1. Allottee agrees to make payment of, pursuant to the procedures set out in paragraph 8.a. below and subject to paragraph 8.b. below, its share of annual charges and costs incurred by the SWSP Enterprise in the administration, operation, maintenance, repair, and replacement of the Pipeline and such other annual costs as may arise from and be 8