HomeMy WebLinkAboutC-7184-1A - Assignment Agreement (for PSA for Engineering Services for the Concrete Street Pavement Reconstruction Project)ASSIGNMENT AGREEMENT
(�- BETWEEN THE CITY OF NEWPORT BEACH AND
CANNON CORPORATION
THIS ASSIGNMENT AGREEMENT ("Assignment') is made and entered into as of
this 14th day of September 2019 ("Effective Date"), by and between the CITY OF
NEWPORT BEACH, a California municipal corporation and charter city ("City") and
CANNON CORPORATION, a California corporation ("Cannon"), whose address is 1414
Tiffany Ranch Road, Arroyo Grande, California 93420, and is made with reference to the
following:
RECITALS
A. On July 10, 2018, City and PENCO ENGINEERING, INC., a California corporation
("Penco") entered into a Professional Services Agreement for engineering services
and construction documents for Concrete Street Pavement Reconstruction
Project, commencing on July 10, 2018, and terminating on June 30, 2020, unless
terminated earlier (the "Agreement').
B. On March 12, 2019, City and Penco entered into Amendment No. One to the
Agreement to reflect additional Services not included in the Agreement and to
increase the total compensation ("Amendment No. One").
C. Pursuant to the Agreement and Amendment No. One, City agreed to compensate
Penco in a total not to exceed amount of Two Hundred Fifteen Thousand Seven
Hundred Dollars and 00/100 ($215,700.00).
C. The parties desire to enter into this Assignment to assign the rights under the
Agreement from Penco to Cannon.
NOW, THEREFORE, it is mutually agreed by and between the undersigned parties
as follows:
1. ASSIGNMENT
As of the Effective Date, Cannon hereby accepts such assignment and hereby
assumes, agrees and undertakes to perform all obligations of Penco pursuant to the
Agreement as of the Effective Date. Any reference to Penco and/or Consultant in the
Agreement and Amendment No. One, shall be deemed to be a reference to Cannon.
As of the Effective Date, Penco shall have no further rights of any kind whatsoever
under the Agreement.
2. CITY CONSENT TO ASSIGNMENT
Pursuant to Section 15 of the Agreement, City approves of this Assignment.
3. INTEGRATED CONTRACT
Except as expressly modified herein, all other provisions, terms, and covenants
set forth in the Agreement shall remain unchanged and shall be in full force and effect.
4. COUNTERPARTS
This Assignment may be executed in two (2) or more counterparts, each of which
shall be deemed an original and all of which together shall constitute one (1) and the
same instrument.
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Cannon Corporation Assignment Agreement
Page 2
IN WITNESS WHEREOF, the parties hereto have executed this Assignment
Agreement on the date first above written.
APPROVED AS TO FORM:
CITY ATTORNEY'S OFFICE
Date: t I a-1 av
By:
Aaron C. Harp W U-4-19
City torney
ATTEST: /
Date:
CITY OF NEWPORT BEACH,
a California municipal corporation
Date: t 191-[ 1 7 -0Y -o
By:
Grp I . Leung
C{ty,M nager
CANNON CORPORATION, a California
corporation
Date:
By: Signed in Counterpart
Michael F. Cannon
Chief Executive Officer
Date:
By: Signed in Counterpart
Bruce G. Ray
Chief Financial Officer
PENCO ENGINEERING, INC., a California
corporation
Date:
gned in Counterpart
George Jurica
Chief Executive
Financial Officer
[END OF SIGNATURES]
Officer and Chief
Cannon Corporation Assignment Agreement Page 3
IN WITNESS WHEREOF, the parties hereto have executed this Assignment
Agreement on the date first above written.
APPROVED AS TO FORM:
CITY ATTORNEY'S OFFICE
Date: 1124 2l-�:>
CITY OF NEWPORT BEACH,
a California municipal corporation
Date:
4 By: i� By:
Aaro C. Harp kiw �1't$i9 Grace K. Leung
City torney City Manager
ATTEST: CANNON CORf OR TION, a California
Date: corporation ` q�,
Date: 171
7 tel--
By: By:
Leilani I. Brown Michael F. Cannon
City Clerk Chief Executive Officer
Chief Financial Officer
PENCO ENGINEERING, INC., a California
corporatio
Date: y�z'9z0
By: i --
eor ieeca
Chief Ex ive Officer and Chief
Financial Officer
[END OF SIGNATURES]
Cannon Corporation Assignment Agreement Page 3