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HomeMy WebLinkAboutC-1036 - Financing agreement, El Paseo, Irvine Terrace Park storm drainAGREEMENT THIS AGREEMENT made this, day of 1966 by and between THE IRVINE COMPANY, a West Virginia corporation, hereinafter "Company" and THE CITY OF NEWPORT BEACH, a municipal corporation, hereinafter "City." RECITALS There exists a storm drain facility located between the north side of the Pacific Coast Highway and Newport Harbor and generally lying in a portion of Irvine Terrace Park and E1 Paseo Drive, a portion of which storm drain facility has deteriorated and must be replaced. In addition, as a result of the increased drainage resulting from construction of the.Newport Center, it will be necessary to increase the capacity of the storm drain facility in the aforementioned area., The portion of the storm drain which increases the capacity of and replaces the deterior- ated facility is referred to as upper portion "A" and the remainder as lower portion "B ". A plat showing said upper portion "A" and lower portion "B" is attached hereto as Exhibit A. Said upper portion "A" and lower portion "B" are sometimes referred to col- lectively as the "drainage facility." It is desirable that the drainage facility be constructed as one project. The parties hereto wish to establish the terms and conditions upon which they will share the cost of constructing said drainage facility. W I T N E S S E T H• 1. City hereby agrees to construct or cause to be constructed the drainage facility, in accordance with the plans and specifications as prepared by Quinton Engineers, Ltd., as -1- set forth in Plans and Specifications entitled El Paseo - Irvine Terrace Park Storm Drain, City of Newport Beach Contract No. 1033, drawing number D- 5033 -S, Sheets 1 to 5. Said contract shall be let at the earliest practicable date. 2. The Irvine Company shall arrange for the preparation of all plans and specifications for said drainage facility, which plans and specifications shall be prepared by or under the super- vision of a registered civil engineer licensed by the State of California and shall be subject to the approval of Company and City prior to advertisement of a notice inviting bids for the construction work. 3. City shall award a public works contract for the project in conformity with the public bid procedure as set forth in Section 1110 of the City Charter. 4. Company shall reimburse City for a portion of the total cost of the drainage facility according to the following formula: a) 54% of the cost of upper portion "A ", and b) For the entire cost of lower portion "B" excepting the inlet and connector pipe structure located at Seadrift and E1 Paseo. 5. City shall pay a portion of the total cost of the drainage facility according to the following formula: a) 46% of the cost of upper portion "A ", and b) For the entire cost of the inlet and connector pipe structure located at Seadrift and E1 Paseo in lower portion "B ". 6. City and Company shall share the cost of engineering, inspection, surveying and staking in the ratio that the portion payable by each provided in paragraphs 4 and 5 hereof shall bear to the total cost of construction of the drainage facility, -2- excluding the costs herein enumerated. 7. Company shall advance City 50% of Company's estimated share of the construction cost, based on the successful bidder's prices, upon award of contract. Company shall pay to City the balance of Company's total share of the project's cost upon completion of the work. 8. City agrees to indemnify Company against and to hold Company harmless from any loss of or damage to any property or injury or death of any person whomsoever proximately caused in whole or in part by negligence of City, its employees, agents or contractors or by any act or omission for which City, its employees, agents or contractors are liable without fault in the construction of the drainage facility, save and except in those instances where such loss or damage or injury or death is proximately caused in whole or in part by any negligence of Company, its employees or agents or by any act or omission for which Company, its employees or agents are liable without fault. IN WITNESS WHEREOF Company has caused this Agreement to be executed by its officers thereunto duly authorized and City has caused this Agreement to be executed by its officials there- unto duly authorized by resolution of the City Council, as of the day and year first above written. TH74W�W,,�o COMPANY By %h r Vi ce President BY K CITY OF NEWPORT BEACH Bye / ZL�- .._ Mayor Attest . By City G erk APPROVED AS TO FORM: SEA.l APPROVED AS TO FORM �N- Tully H. Seymour Dated: City Attorney CITE ,, GRNEY I m II fI �FR tu) 0 4 5 VU%Wv the City air =l giant useh intends to Etmut%Wt 6 a drain. faeia.ity !n tarp AX" botmeft the "nth site of the .7.104fio Coast powo" and .gemp ily ly"S #n 8 portion of Irviva X"• ipdrao sad El. Passo wivof wil sate Speft 9 is► ylaxRS and speaw"tioas satitlad al ft6so•Ixvina .le"fte puk 10 11 WWOMSO tbrere bea bees press" to tau fit# council an 12 agsasroaet botMft The ls'vine Ccgany sad the City of ywPust Saito► 15 for the porformsmao. of certain oevviass Ia. goom a" 14 +ritk sW drai"ge facility aid shArinp in tiu oast tbSmwf as "Mm 15 spectif eauy sot fwth !a the sdreemmt; asst 16 waaWs the City awmail asst reviewed tU term of the 17' lorAnowt sad dsto=taed it to be is the iratotostts of tbu City and 18 the 1"rsvesento to be aeces"ry; 19 o , U Tr RXSMM that said *&Mommt is 20 appswed and the a" City ClerU we wtbiVf MW scut dimtsd 21 to execute the saga on beb&U of tau City of V&wPwt rlssch. 22 We 225th„ 46Y Of apd li . 19660 2311 24 25 26 27 28 29 30 31 32 0 TO: Finance Director FROM: City Clerk SUBJECT: Contract Contract No. C -1036" 0 Date Jame 2. 1966 Authorized by Resolution No. 6344 , adopted on April 2k, 1966 Date Mayor and City Clerk executed Contract April 26, 1966 Effective date of Contract April 269 1966 Contract with The Irvine Ckmpany Address P. 0. Box 37 Irvine, California Brief description of Contract Financing apvwert re II Paseo- Irvine Terrace Paris storm drain Amount of Contract $6e Contract Copy of omtraet en file in City Clerk's office ity Clerk 0 The Irvine Company P. O. Box 37 Irvine, California Dear Sirs: 0 May 3, 1966 Attached is a duly executed copy of agreement between The Irvine Company and the City of Newport Beach in connection with the construction of the El Paseo- Irvine Terrace Park storm drain. Execution of said agreement waiauthorised by the Council at its regular meeting on April 25. 1966 by the adoption of Resolution No. 6344, copy of which is attached. Very truly yours, MARGERY SCHROUDER City Clerk City of Newport Beach Deputy City Clerk lcl Encl. cc: Public Works Director 0 0 CITY OF NEWPORT BEACH CITY ATTORNEY April 25, 1966 To: City Clerk From: City Attorney Subject: Agenda Item I -10 Attached are the original and threecopies of an agreement between The Irvine Company and the City in connection with the construction of the E1 Paseo- Irvine Terrace Park storm drain together with a resolution which, if adopted by the City Councii, will authorize its execution on behalf of the City. THS:mec Atts. cc - City Manager Public Works Director Tully H. Seymour City Attorney # CITY OF NEWPORT BEACH REQUEST FOR FUNDS TO: Finance Director FROM: �v$L1G 1/ 41eRKS Sew SUBJECT: REQUEST FOR FUNDS Request for additional funds,,, $ t ?(9 Funds are not available in the current budget. Date APRIc. Z/ �yb/6 Additional appropriation to Accounts # is requested. Additional funds are for: / � .` Cy0tje'- ?UG7' /0au OF ntr. �(, P4 see) Dpovm -..�..yi°VI'V:� rnye-eded l cizrz "tom Rm v� 7`ei �i:::�c-lC °:. �p2s�tNj �pf�i�6 `! D 65`0 6o t./s ✓fJA2'3f. �J' 13Y �} t tN) Request for transfer of funds, Transfer from Account # to Funds are available in the current budget. Transfer of funds is needed for: F(ETV21 ny +'� PIZirl- Dl�mA1 t % r�'�.Gu'F+ °w��� Li3`C �' i To- �4j�• �)TY �l {fJ€'.� ©� %+ir_ .�- tZV1t�w= �i:::�c-lC °:. �p2s�tNj �pf�i�6 `! D 65`0 6o t./s ✓fJA2'3f. �J' 13Y �} t -7�— Z-P -Lo.`. -'NFL D , ..p .d- i1l,J.L °: (Department Head)