Reso 2011-1749 - Laserfiche WebLink

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5.1.2 The initial sum total of ($950,000.00,) Nine Hundred Fifty Thousand Dollars shall be attributed to the design phase, with the remaining amount attributed to the construction phase. Ownership in the signed and sealed 100% "Issued for Construction" set of Plans and Specifications shall vest in the CITY once a permit is issued to commence construction. 5.1.3 The CONTRACTOR understands that the CITY is concerned with ensuring that an Acceptable Vendor is found to lease the high-end restaurant space to be constructed as part of the Project in accordance with a Lease/Development Agreement. To that end, the CONTRACTOR agrees and warrants that it shall be the CONTRACTOR'S responsibility to locate and secure a vendor, acceptable to the CITY, to occupy the high-end retail restaurant space within six months from the date that this Agreement is signed or approved by the City Commission. Notwithstanding anything to the contrary in this Agreement, the CONTRACTOR agrees that if the CONTRACTOR is unable to locate and secure such a vendor, that the CITY shall have the absolute right to convert to park area the 60,000 square feet of land leased ("Premises") to the CONTRACTOR. If the Premises is converted to open space/park, the CITY agrees to pay CONTRACTOR the sum of Seven Hundred Thousand Dollars ($700,000.00) for the design and construction of the Premises into a great lawn identical to the great lawn reflected in the Project. The scope of the Project shall be expanded to include the additional park area, and the Guaranteed Maximum Price shall be increased to reflect the $700,000.00 for the design and construction of the Premises into a great lawn. ARTICLE 6 CONTRACTOR'S RESPONSffiILITIES 6.1 Responsibilities - Construction Phase. 6.1.1 Consultation: CONTRACTOR will schedule and attend regular meetings and will consult with CITY regarding site use and improvements, and the selection of materials, building systems, and equipment. 6.1.2 Subcontractors and Suppliers: CONTRACTOR shall develop subcontractor interest in the Project and shall furnish to the CITY, information, a list of subcontractors, including suppliers who are to furnish materials or equipment fabricated to a special design. The receipt of such list shall not require the CITY to investigate the qualifications of proposed subcontractors or suppliers, nor shall it waive the right of the CITY later to object to or reject any proposed subcontractor or supplier, and is furnished by CONTRACTOR to CITY for informational purposes only. Subject to the rights of the CITY to purchase supplies and materials in furtherance of the sales tax program as described in Article 6.16 hereof, CONTRACTOR shall have authority in awarding subcontractors and purchase orders. 6.1.3 Extent of Responsibility: CONTRACTOR shall be responsible for the architecture, engineering, construction and completion of the Project. 6.2 Guaranteed Maximum Price. 6.2.1 The Guaranteed Maximum Price is also subject to further reduction by an amount 8