FIRST AMENDMENT TO
VAN BUREN BOULVARD SEWER IMPROVEMENTS PROJECT
INTERAGENCY FUNDING AGREEMENT
This First Amendment to Funding Agreement ("'First Amendment"), dated , 2023 is entered into by and between the CITY OF RIVERSIDE, a California charter city and municipal corporation ("CITY"), and the County of Riverside, a political subdivision of the State of California, on behalf of the Office of Economic Development Department ("COUNTY"), the parties to this First Amendment, will be referenced herein individually as a "Party" and collectively as "Parties". The Parties hereby agree as follows:
RECITALS
A. CITY and COUNTY have entered into that certain Funding Agreement dated April 26, 2022 ("Original Agreement") pursuant to which CITY and COUNTY have mutually agreed that the Van Buren Boulevard project area requires a sanitary sewer system be constructed to mitigate failing private septic systems and to facilitate infrastructure for future economic development.
B. The Original Agreement together with this First Amendment are collectively referred to herein as the "Agreement".
C. The Parties wish to amend the Original Agreement to increase the total financial contribution amount for COUNTY as the total projects costs have increased from an estimated $14,000,000.00 to $21,805,103.00 based on the results of CITY's public works bid process.
NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Parties agree as follows:
Recital K of the Original Agreement is hereby replaced in its entirety by the following:
K. WHEREAS, the purpose of this Agreement is to set forth the terms and conditions whereby the COUNTY will contribute Ten Million Thirty Thousand Three Hundred Forty Eight Dollars ($10,030,348.00) toward CITY's construction of the project infrastructure.
Section 2, Section 2 (A), and Section 2 (A)(i) of the Original Agreement are hereby replaced in their entirety by the following:
2. Agreement: COUNTY, hereby, agrees to pay CITY Ten Million Thirty Thousand Three Hundred Forty Eight Dollars ($10,030,348.00) toward CITY's construction of the Project generally depicted in Exhibit A, hereto. Such payment, made by COUNTY, shall be used by CITY for the sole purpose of offsetting construction costs of the portions of Project within unincorporated territory of the County of Riverside. CITY shall reimburse COUNTY the portion of connection fees collected from properties in the unincorporated territory of the County or Riverside deemed to cover capital improvement costs. Payments by COUNTY and CITY shall be paid in accordance with the following schedule:
A. In Accordance with the Project Construction - Ten Million Thirty Thousand Three Hundred Forty Eight Dollars ($10,030,348.00) payable by COUNTY to CITY
COUNTY shall pay CITY Ten Million Thirty Thousan
hree Hundred Forty Eight dollars ($10,030,348.00) to assi:
with Project costs ("County Contribution").
The provisions of this First Amendment shall prevail over any inconsistent or conflicting provisions of the Agreement as heretofore amended and shall supplement the remaining provisions thereof.
4. Except as amended or modified herein, all the terms of the Agreement shall remain in full force and effect and shall apply with the same force and effect. Subject to the provisions of the Agreement as to assignment, the agreements, conditions, and provisions herein contained shall apply to and bind the heirs, executors, administrators, successors and assigns of the parties hereto. If any provisions of this First Amendment or the Agreement shall be determined to be illegal or unenforceable, such determination shall not affect any other provision of the Agreement, and all such other provisions shall remain in full force and effect. The language in all parts of the Agreement shall be construed according to its normal and usual meaning and not strictly for or against either DISTRICT or COUNTY.
This First Amendment shall not be binding or consummated until it is fully executed by the Parties.
6. This First Amendment to Agreement may be executed in any number of counterparts, each of which will be an original, but all of which together will constitute one instrument.
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IN WITNESS WHEREOF, the Parties hereto have executed this First Amendment to the Funding Agreement as of the day and year first written above.
CITY OF RIVERSIDE
RECOMMENDED FOR APPROVAL: a California charter city and municipal corporation By
MICHAEL FUTRELL
City Manager
APPROVED AS TO FORM: ATTEST:
CITY ATTORNEY DONESIA GAUSE
City Clerk
my buthey Beauma By
City Clerk
S Deputy City Attorney for Brandon
Mercer
CERTIFIED AS TO FUNDS AVAILABILITY:
risth
BY:
ASSISTANT CHIEF FINANCIAL OFFICER
[Signed in Counterpart]
RECOMMEND FOR APPROVAL: COUNTY OF RIVERSIDE, a political subdivision of the State of California
By
KEVIN JEFFRIES, Chairman
Board of Supervisors
APPROVED AS TO FORM: ATTEST:
MINH C. TRAN
COUNTY COUNSEL KIMBERLY RECTOR
Clerk of the Board
By By
STEPHANIE K. NELSON Deputy
Deputy County Counsel
[Signed in Counterpart]