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Home My WebLink About61-16 RESOLUTION113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Resolution: 61-16 File Number: 2016-0105 WATERMARK AT FAYETTEVILLE AR, LLC: A RESOLUTION TO APPROVE A COST SHARE AGREEMENT WITH WATERMARK AT FAYETTEVILLE AR, LLC IN AN AMOUNT NOT TO EXCEED $43,241.00 FOR A SEWER MAIN UPGRADE NEAR VAN ASCHE DRIVE AND STEELE BOULEVARD WHEREAS, Watermark will be constructing the Watermark at Steele Crossing, a 306 unit multi -family development located on 17 acres at the northeast corner of Steele Boulevard and Van Asche Drive, a project which was approved by the City's Planning Commission on September 14, 2015; and WHEREAS, during the course of design review by the Arkansas Department of Health, Watermark was made aware of an existing sewer capacity issue just downstream from where the development intends to connect; and WHEREAS, increasing the size of this 360 foot segment from an 8 -inch main to a 12 -inch main will alleviate the current capacity deficiency, allow the development to connect and also allow for ample future capacity for the remaining undeveloped parcels in the area that are served by this sewer main; and WHEREAS, § 51.113 of the Fayetteville City Code provides that "the City shall pay the excess material cost of facilities of a size that is larger than required to serve subdivisions when such excess size is specified and required by the water and wastewater director for the general benefit of the sewerage system." NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a Page 1 Printed on 3116116 File Number:2016-0105 Resolution: 61-16 cost share agreement with Watermark at Fayetteville AR, LLC in an amount not to exceed $43,241.00 for a sewer main upgrade near Van Asche Drive and Steele Boulevard. PASSED and APPROVED on 3/15/2016 Attest: Page 2 Sondra E. Smith, City Clerk Treasurer Printed on 3116116 fJr City of Fayetteville, Arkansas 113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 1J /I Text File -- File Number: 2016-0105 Agenda Date: 3/15/2016 Version: 1 Status: Passed In Control: City Council Meeting File Type: Resolution Agenda Number: A. 6 WATERMARK AT FAYETTEVILLE AR, LLC: A RESOLUTION TO APPROVE A COST SHARE AGREEMENT WITH WATERMARK AT FAYETTEVILLE AR, LLC IN AN AMOUNT NOT TO EXCEED $43,241.00 FOR A SEWER MAIN UPGRADE NEAR VAN ASCHE DRIVE AND STEELE BOULEVARD WHEREAS, Watermark will be constructing the Watermark at Steele Crossing, a 306 unit multi -family development located on 17 acres at the northeast corner of Steele Boulevard and Van Asche Drive, a project which was approved by the City's Planning Commission on September 14, 2015; and WHEREAS, during the course of design review by the Arkansas Department of Health, Watermark was made aware of an existing sewer capacity issue just downstream from where the development intends to connect; and WHEREAS, increasing the size of this 360 foot segment from an 8 -inch main to a 12 -inch main will alleviate the current capacity deficiency, allow the development to connect and also allow for ample future capacity for the remaining undeveloped parcels in the area that are served by this sewer main; and WHEREAS, § 51.113 of the Fayetteville City Code provides that "the City shall pay the excess material cost of facilities of a size that is larger than required to serve subdivisions when such excess size is specified and required by the water and wastewater director for the general benefit of the sewerage system." NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a cost share agreement with Watermark at Fayetteville AR, LLC in an amount not to exceed $43,241.00 for a sewer main upgrade near Van Asche Drive and Steele Boulevard. City of Fayetteville, Arkansas Page 1 Printed on 311612016 City of Fayetteville Staff Review Form 2016-0105 Legistar File ID 3/15/2016 City Council Meeting Date - Agenda Item Only N/A for Non -Agenda Item Tim Nyander 2/26/2016 Utilities Director/ Utilities Department Submitted By Submitted Date Division / Department Action Recommendation: Staff recommends approval of a cost -share agreement between the City of Fayetteville and Watermark of Fayetteville AR, LLC to share the costs of -installing an upgraded sewer main in the area of Steele Blvd. and Van Asche Drive in the amount of $43,241.00, which includes a 10% contingency. Budget Impact: 5400.5700.5815.00 Account Number 02067.1 Project Number Water & Sewer Fund Water & Sewer Cost Sharing Project Title Budgeted Item? Yes Current Budget $ 96,796.00 Funds Obligated $ - Current Balance 06,796 Does item have a cost? Yes Item Cost $ 43,241.00 Budget Adjustment Attached? No Budget Adjustment Remaining Budget_ Previous Ordinance or Resolution # Original Contract Number: Comments: Approval Date: CITY OF TayIl —e ARKANSAS MEETING OF MARCH 15, 2016 TO: Mayor and City Council THRU: Don Marr, Chief of Staff Water & Sewer Committee FROM: Tim Nyander, Utilities Director TJX DATE: February 26, 2016 CITY COUNCIL AGENDA MEMO SUBJECT: Resolution Approving a Cost -Share Agreement between the City of Fayetteville and Watermark at Fayetteville AR, LLC RECOMMENDATION: Staff recommends approval of a cost -share agreement between the City of Fayetteville and Watermark at Fayetteville AR, LLC, to share the costs of installing an upgraded sewer main in the area of Steele Blvd and Van Asche Drive in the amount of $43,241.00, which includes a 10% contingency. BACKGROUND: Watermark at Steele Crossing is a 17 acre, 306 unit, multi -family residential development located at the northeast corner of the intersection of Steele Blvd and Van Asche Drive in the CMN Business Park. The project was approved by the Planning Commission on September 14, 2015. During the course of design review by the Arkansas Department of Health, the developer was made aware of an existing sewer capacity issue in a portion of 8 -inch sanitary sewer, just downstream from where the development had intended to connect into. The section in question is approximately 360 linear feet. By increasing the size of this line segment from an 8 -inch to a 12 -inch, it will not only alleviate the current capacity deficiency and allow the development to connect, but it will also allow for ample future capacity for the remaining undeveloped parcels which are served by this line. DISCUSSION: Section 51.113 Sewer Service and Extension Policy states that the city shall pay the excess material cost of facilities of a size larger than required to serve subdivisions when such excess size is specified and required by the water and wastewater director for the general benefit of the sewerage system. Since the 12 -inch line will convey twice as much sewage as the current 8 -inch line, the Utility Staff feels it is fair and equitable to pay for 50% of the upgrade. BUDGET/STAFF IMPACT: There is adequate funding in Water & Sewers Cost Share Capital Program to fund this agreement. Attachments: Staff Review Form Cost -Share Agreement Exhibit A —Area Map Area Map from GIS Mailing Address: 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 CONTRACTUAL AGREEMENT FOR COST SHARE OF SEWER MAIN UPGRADE COSTS This Agreement, made and entered into on this day of March, 2016, by and between the City of Fayetteville, Arkansas ("City") and Watermark at Fayetteville AR, LLC, a Delaware limited liability company ("Watermark"), witnesseth: WHEREAS, Watermark will be constructing the Watermark at Steele Crossing, a 306 unit multi -family development located on 17 acres at the northeast corner of Steele Boulevard and Van Asche Drive, a project which was approved by the City's Planning Commission on September 14, 2015; and WHEREAS, during the course of design review by the Arkansas Department of Health, Watermark was made aware of an existing sewer capacity issue in a 360 linear foot portion of 8 - inch sanitary sewer (as shown on the map attached as Exhibit "A" to this Agreement) just downstream from where the development intended to connect; and WHEREAS, increasing the size of this 360 foot segment from an 8 -inch main to a 12 -inch main will alleviate the current capacity deficiency, allow the development to connect and also allow for ample future capacity for the remaining undeveloped parcels in the area that are served by this sewer main; and WHEREAS, § 51.113 of the Fayetteville City Code provides that "the City shall pay the excess material cost of facilities of a size that is larger than required to serve subdivisions when such excess size is specified and required by the water and wastewater director for the general benefit of the sewerage system." NOW, THEREFORE, the City of Fayetteville, Arkansas and Watermark at Fayetteville AR, LLC agree as follows: 1. The City of Fayetteville, Arkansas agrees to: A. Reimburse Watermark at Fayetteville AR, LLC for 50% of the cost to upgrade 360 linear feet of 8 -inch sanitary sewer main in the area identified in Exhibit "A" to 12 -inch main up to a maximum -not -to -exceed amount of $43,241.00, which includes the amount estimated by the developer's representative as shown on Exhibit "B" attached plus a 10% project contingency. B. Make reasonable efforts to provide payment to Watermark within thirty (30) days after receipt of valid invoices but cannot guarantee payment will be made within the thirty day period. 2. Watermark at Fayetteville AR, LLC agrees to: A. Provide the necessary and normal project management, inspection, and testing as necessary for a complete and acceptable sewer main installation. B. Provide a copy of the invoices from the Contractor upon City approval of the sewer main upgrade. C. Pay for the sewer main installation (with reimbursement of 50% of the cost by the City of Fayetteville in a not -to -exceed amount of $43,241.00). It is further understood that the contract for construction of the sewer main upgrade is between Watermark and its Contractor and that the City has no contractual obligation with either the Contractor or the Engineer. The City's only obligation shall be to participate in this contractual Agreement with a not -to -exceed reimbursable amount not to exceed $43,241.00, which includes a project contingency in the amount of $3,931.00, for the sewer main upgrade. IN AGREEMENT WITH ALL THE TERMS AND CONDITIONS ABOVE, WE SIGN BELOW: WATERMARK AT FAYETTEVILLE CITY OF FA ETTEVILLE, AR, LLC ARKANSAS/ A �f /f Ey' - y PAUL M. THRIFT L NEL Manager / ATTEST: SONDRA SMITH, City Clerk EXHIBIT "A" 360 L.F. of sewer line to be replaced �--MH 390 P E Val -i AscheD r Van Asche Dr iik 1t��t MH 348 1S `72'49 g: 37 3715 V0 a g ffi . 5 715 ; 4 8 i s E Palmetto Dr E Palmetto Dr M., �. €' WATERMARK AT STEELE CROSSING f]5 J�,1�. 27 $u i? wAX,.$ 22 m:,., � 6 36s:- .s E Dunbar Ln E Dunbar Ln fl 2 13 3e a i:a` a 3 ,`,s 211 15 ez 61, 366.1'' k P E Val -i AscheD r Van Asche Dr iik 1t��t I I I I � k I � a i G6 IW-OE OP U) 6 PVC 21:3 1�J0 -- S-E$`f�fP'762 -- - --5_18!BIP..538 �Q 5-30 PVC'385 5-30 i79 °--��_ - to S-30372 Sim- Proposed 309Proposed Area of f - Sanitary Sewer Line Size increase from 3:8 inch to 12 inch for r a totsI of 360 feet. k a S"q I 1 1+-i7{3 S.S 4 AR W-[38 a. r Sw p I !11 I 07 V Watermark ui at Steele a$ u9 Crossing► i i t I � t I t s �? `V+ t ASCI-fE DR W-08 - EVAN ASCHE OR �� u' _ S-8128 -- -- - - - - - - _ _— - _ W-08 S $ 359 S-8 183 rn �1 ynl0$ f ai f -? N � I W L• I � 1 0 50 100 240 300 400 (j: w Feel a EXHIBIT "B" Upgrade Existing Sanitary Main from 8" to 1211 Subcontractor Prig $59,200.00 Design — Permitting $6,000.00 Contingency _. $2,500.00 _ $5,920.001 Total Cost for proposal _ $78,62 i �Uooey, ma(y, ili e LIC. City of Fayetteville Staff Review Form 2017-0152 Legistar File ID N/A City Council Meeting Date - Agenda Item Only N/A for Non -Agenda Item Tim Nyander 3/9/2017 Utilities Director / Utilities Department Submitted By Submitted Date Division / Department Action Recommendation: APPROVAL OF A CHANGE ORDER TO THE COST SHARE AGREEMENT WITH WATERMARK AT FAYETTEVILLE AR, LLC IN THE AMOUNT OF $3,931.00 FOR PAYMENT OF THE PROJECT CONTINGENCY. Budget Impact: 5400.720.5700-5815.00 Water & Sewer Account Number Fund 02067.1 Water & Sewer Cost Sharing Project Number Project Title Budgeted Item? Yes Current Budget $ 92,286.00 Funds Obligated $ 39,3.10.00 Current Balance $ 52,96.00 Does item have a cost? Yes Item Cost $ 3,931.00 Budget Adjustment Attached? No Budget Adjustment Remaining Budget $ 49,F0>00 V20140710 Previous Ordinance or Resolution # 61-16 Original Contract Number: Approval Date: 3-15-1r7 Comments: CITY OF 7ay7ee�le ARKANSAS TO: Mayor Lioneld Jordan THRU: Don Marr, Chief of Staff FROM: Tim Nyander, Utilities Director DATE: March 6, 2017 STAFF MEMO SUBJECT: Change order to the cost share agreement with Watermark at Fayetteville, AR LLC to utilize the project contingency in the amount of $3,931.00 RECOMMENDATION: Staff recommends approval of a change order to the cost share agreement with Watermark at Fayetteville, AR LLC in the amount of $3,931.00 to utilize the project contingency. BACKGROUND: Fayetteville City Council passed Resolution 61-16 on March 15, 2016 which authorized the City to participate in a cost share with Watermark at Fayetteville, AR LLC ("Watermark"). This cost share was for a sewer main upgrade near Van Asche Dr. and Steele Blvd. DISCUSSION: The agreement with Watermark contained a project contingency in the amount of $3,931.00. That project contingency needs to be used in full, in the amount of $3,931.00. The full project cost including the contingency is $43,241.00. This amount is owed to Watermark, as the project was completed on February 8, 2017. In the attached letter dated February 9, 2017 (which is considered an invoice), Crafton Tull requested payment of $43,241.00 on behalf of Watermark. BUDGET/STAFF IMPACT: Funds are available within the Water and Sewer Cost Sharing account. Utilization of these funds was passed by City Council on March 15, 2016. Attachments: Staff Review Form Letter from Crafton Tull (Invoice) Resolution 61-16 Mailing Address: 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 901 N 47th Street. Suite 200 Rogers, AR 72756 Crafton Tu I I 479.636.4838 tph; architecture I engineering I surveying 472.631 6224 February 9, 2017 City -of Fayetteville Attn: Corey Granderson, PE 113 West Mountain St. Fayetteville, AR 72701 Re: Cost share payment for Watermark offsite sewer Corey, On behalf of our client, Watermark Residential, we are submitting this correspondence as a request for payment from the City of Fayetteville, in accordance with the cost share agreement approved by City Council on March 15, 2016. Attached you will find: - City Council Resolution authorizing the cost share - Final pay application from the subcontractor to the GC contracted with Watermark - Crafton Tull daily inspection reports - Vacuum, pressure, and mandrel test results Punch list - Maintenance bond verification letter Pursuant to the completion of the final inspection punch list, which occurred on Wednesday February- 8, 2017, our client is requesting payment in the amount authorized by the attached resolution of $43,241.00. Please contact me if you have any questions. Sincerely, Thomas A. Hennelly, P� Vice President Crafton Tull 11 113 West Mountain Street Fayetteville, AR 72701 (479)575-8323 Resolution: 61-16 File Number: 2016-0105 WATERMARK AT FAYETTEVILLE AR, LLC: A RESOLUTION TO APPROVE A COST SHARE AGREEMENT WITH WATERMARK AT FAYETTEVILLE AR, LLC IN AN AMOUNT NOT TO EXCEED $43,241.00 FOR A SEWER MAIN UPGRADE NEAR VAN ASCHE DRIVE AND STEELE BOULEVARD WHEREAS, Watermark will be constructing the Watermark at Steele Crossing, a 306 unit multi -family development located on 17 acres at the northeast comer of Steele Boulevard and Van Asche Drive, a project which was approved by the City's Planning Commission on September 14, 2015; and WHEREAS, during the course of design review by the Arkansas Department of .Health, Watermark was made aware of an existing sewer capacity issue just downstream from where the development intends to connect; and WHEREAS, increasing the size of this 360 foot segment from an 8 -inch main to a 12 -inch main will alleviate the current capacity deficiency, allow the development to connect and also allow for ample future capacity for the remaining undeveloped parcels in the area that are served by this sewer main; and WHEREAS, § 51.113 of the Fayetteville City Code provides that "the City shall pay the excess material cost of facilities of a size that is larger than required to serve subdivisions when such excess size is specified and required by the water and wastewater director for the general benefit of the sewerage system." NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a Page 1 Printed on 3116116 File Number -:2016-0105 Resolution: 61-16 cost share agreement with Watermark at Fayetteville AR, LLC in an amount not to exceed $43,241.00 for a sewer main upgrade near Van Asche Drive and Steele Boulevard. PASSED and APPROVED on 3/15/2016 Attest: Sondra E. Smith, City Clerk Treasurer qct ttttf4trjl1 Y fr rrl+/111ji1:11011 �Yt Page 2 Printed on 3116116 City of Fayetteville, Arkansas 113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Text File File Number: 2016-0105 Agenda Date: 3/15/2016 Version: 1 Status: Passed In Control: City Council Meeting File Type: Resolution Agenda Number: A. 6 WATERMARK AT FAYETTEVILLE AR, LLC: A RESOLUTION TO APPROVE A COST SHARE AGREEMENT WITH WATERMARK AT FAYETTEVILLE AR, LLC IN AN AMOUNT NOT TO EXCEED $43,241.00 FOR A SEWER MAIN UPGRADE NEAR VAN ASCHE DRIVE AND STEELE BOULEVARD - WHEREAS, Watermark will be constructing the Watermark at Steele Crossing, a 306 unit multi -family development located on 17 acres at the northeast corner of Steele Boulevard and Van Asche Drive, a project which was approved by the City's Planning Commission on September 14, 2015; and WHEREAS, during the course of design review by the Arkansas Department of Health, Watermark was made aware of an existing sewer capacity issue just downstream from where the development intends to connect; and WHEREAS, increasing the size of this 360 foot segment from an 8 -inch main to a 12 -inch main will alleviate the current .capacity deficiency, allow the development to connect and also allow for ample future capacity for the remaining undeveloped parcels in the area that are served by this sewer main; and WHEREAS, § 51.113 of the Fayetteville City Code provides that "the City shall pay the excess material cost of facilities of a size that is larger than required to serve subdivisions when such excess size is specified and required by the water and wastewater director for the general benefit of the sewerage system." NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a cost share agreement with Watermark at Fayetteville AR, LLC in an amount not to exceed $43,241.00 for a sewer main upgrade near Van Asche Drive and Steele Boulevard. City of Fayetteville, Arkansas Page 1 Printed on 311612016 City of Fayetteville Staff Review Form 2016-0105 Legistar File ID 3/15/2016 City Council Meeting Date - Agenda Item Only N/A for Non -Agenda Item Tim Nyander 2/26/2016 Utilities Director/ Utilities Department. Submitted By Submitted Date Division / Department Action Recommendation: Staff recommends approval of a cost -share agreement between the City of Fayetteville and Watermark of Fayetteville AR, LLC to share the costs of -installing an upgraded sewer main in the area of Steele Blvd. and Van Asche Drive in the amount of $43,241.00, which includes a 10% contingency. Budget Impact: 5400.5700.5815.00 'Water & Sewer Account Number Fund 02067.1 Water &Sewer Cost Sharing Project Number Project Title Budgeted Item? Yes Current Budget $ _96,796.00 Funds Obligated $ Current Balance Does item have a cost? Yes Item Cost $ 43,241.00 Budget Adjustment Attached? No Budget Adjustment Remaining Budget V20140710 Previous Ordinance or Resolution # Original Contract Number: Approval Date: Comments: CITY OF ARKANSAS MEETING OF MARCH 15, 2016 TO: Mayor and City Council THRU: Don Marr, Chief of Staff Water & Sewer Committee FROM: Tim Nyander, Utilities Director 7N DATE: February 26, 2016 CITY COUNCIL AGENDA MEMO SUBJECT: Resolution Approving a Cost -Share Agreement between the City of Fayetteville and Watermark at Fayetteville AR, LLC RECOMMENDATION: Staff recommends approval of a cost -share agreement between the City of Fayetteville and Watermark at Fayetteville AR, LLC, to share the costs of installing an upgraded sewer main in the area of Steele Blvd and Van Asche Drive in the amount of $43,241.00, which includes a 10% contingency. , BACKGROUND: Watermark at Steele Crossing is a 17 acre, 306 unit, multi -family residential development located at the northeast corner of the intersection of Steele Blvd and Van Asche Drive in the CMN Business Park. The project was approved by the Planning Commission on September 14, 2015. During the course of design review by the Arkansas Department of Health, the developer was made aware of an existing sewer capacity issue in a portion of 8 -inch sanitary sewer, just downstream from where the development had intended to connect into. The section in question is approximately 360 linear feet. By increasing the size of this line segment from an 8 -inch to a 12 -inch, it will not only alleviate the current capacity deficiency and allow the development to connect, but it will also allow for ample future capacity for the remaining undeveloped parcels which are served by this line. DISCUSSION: Section 51.113 Sewer Service and Extension Policy states that the city shall pay the excess material cost of facilities of a size larger than required to serve subdivisions when such excess size is specified and required by the water and wastewater director for the general benefit of the sewerage system. Since the 12 -inch line will convey twice as much sewage as the current 8 -inch line, the Utility Staff feels it is fair and equitable to pay for 50% of the upgrade. BUDGET/STAFF IMPACT: There is adequate funding in Water & Sewer's Cost Share Capital Program to fund this agreement. Attachments: Staff Review Form Cost -Share Agreement Exhibit A — Area Map Area Map from GIS Mailing Address: 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 0 CONTRACTUAL AGREEMENT FOR COST SHARE OF SEWER MAIN UPGRADE COSTS This Agreement, made and entered into on this day of March, 2016, by and between the City of Fayetteville, Arkansas ("City") and Watermark at Fayetteville AR, LLC, a Delaware limited liability company ("Watermark"), witnesseth: WHEREAS, Watermark will be constructing the Watermark at Steele Crossing, a 306 unit multi -family development located on I7 acres at the northeast comer of Steele Boulevard and Van Asche Drive, a project which was approved by the City's Planning Commission on September 14, 2015; and WHEREAS, during the course of design review by the Arkansas Department of Health, -Watermark was made aware -of -an existing sewer capacity issue in a 360 linear foot portion of 8 - inch sanitary sewer (as shown on the map attached as Exhibit "A" to this Agreement) just _downstream from where the development intended to connect; and - WHEREAS; increasing the size of this 360 foot segment from an 8 -inch main to a 12 -inch - main will alleviate the current capacity deficiency, allow the development to connect and also allow for ample future capacity for the remaining undeveloped parcels in the area that are served by this sewer main; and . WHEREAS, § 51.113 of the Fayetteville City Code provides that "the City shall pay the .excess .maaterial cost of facilities of a size that is largef than required to serve subdivisions when such excess size is specified and required by the water and wastewater director for the general benefit of the sewerage system: NOW, THEREFORE, the—City of. Fayetteville, Arkansas -and Watermark at Fayetteville AR, LLC agree as follows: 1. The City of Fayetteville, Arkansas agrees to: A. Reimburse Watermark at Fayetteville AR, LLC for 50% of the cost to upgrade 360 linear feet of 8 -inch sanitary sewer main in the area identified in Exhibit . "A" to 12 -inch main up to a maximum -not -to -exceed amount of $43,241.00, which includes the amount estimated by the developer's representative as shown on Exhibit "B" attached plus a 10% project contingency. B. -Make reasonable efforts to provide payment to Watermark within thirty (30) days after receipt of valid invoices but cannot guarantee payment will be made within the thirty day period. 2. Watermark at Fayetteville AR, LLC agrees to: A. Provide the necessary and normal project management, inspection, and testing as necessary for a complete and acceptable sewer main installation. B. Provide a copy of the invoices from the Contractor upon City approval of the sewer main upgrade. C. Pay for the sewer main installation (with reimbursement of 50% of the cost by the City of Fayetteville in a not -to -exceed amount of $43,241.00). 3. It is further understood that the contract for construction of the sewer main upgrade is between Watermark and its Contractor and that the City has no contractual obligation with either the Contractor or the Engineer. The City's only obligation shall be to participate in this contractual Agreement with a not -to -exceed reimbursable amount not to exceed $43,241.00, which includes a project contingency in the amount of $3,931.00, for the sewer main upgrade. IN AGREEMENT WITH ALL THE TERMS AND CONDITIONS ABOVE, WE SIGN BELOW: WATERMARK AT FAYETTEVILLE AR, LLC By:� PAUL M. THRIFT Manager ATTEST: e By:._....._._. C.•.e� SONDRA SMITH, City Clerk i i � w EXHIBIT "B" Upgrade Exiatinq Sanitary Allain frnm R'- v... � �••