Laserfiche WebLink
b. Phase II of the Connector OptionsfMo Highway 160 Dominguez <br />Intersection Connection: <br />1. Notice of intent to trigger dedication and construct improvements: <br />no later than seven (7) years fl-om date of formal agreement. <br />2. Completion of construction: no later than 9 years from date of <br />formal agreement. <br />Notwithstanding the time fiames set forth in this section, the County <br />acknowledges Oakridge's desire to have all Connector Options completed as <br />expeditiously as possible. However, the County's ability to do so depends, in large part, <br />upon the cooperation and participation of various third parties, including but not limited <br />to the City of Durango and the Colorado Department of Transportation. Oakridge <br />consents to La Plata County soliciting such third party cooperation upon the execution of <br />this Letter of Intent and thereafter to completion of the Connector Options. In the event <br />cooperation, both practical and financial, is achieved in a manner that world allow for <br />completion of one or more of the Connector Options prior to the time frames set forth in <br />this section, Le Plata County shall diligently pursue such earlier completion. <br />Notwithstanding the requirements for completion of construction set forth in <br />Sections 7(a)(2) and (b)(2), If the County has failed to complete the required construction <br />by the defined date(s) provided, the County shall have the right to an extension of up to <br />six (6) months upon written request delivered to Oakridge prior to the respective defined <br />date(s), so long as the Contractor's bond and withholding of funds per Section S(f) above <br />remain in effect. <br />It is understood that because the County's obligations wider the final agreement <br />will involve the expenditure of public funds, the final agreement will be contingent upon <br />the continued availability of county funds for payment. The County's financial <br />obligations under the final agreement shall not constitute a general obligation, <br />indebtedness or multiple year direct or indirect debt or other financial obligation <br />whatsoever within the meaning of the constitution or the laws of the State of Colorado. <br />Upon execution of this Letter of Intent, legal.counsel for the respective parties <br />shall work together .to develop a draft of a -comprehensive contract regarding dais <br />proposed transaction. This letter is not intended to be a binding contract, and until a <br />contract is executed, no party will be bound. <br />OGE ENERGY, INC. <br />BY: <br />Its: A'!l :41x d? <br />4