Common use of Cooperative Development Clause in Contracts

Cooperative Development. Subject to the terms and conditions set forth in this Agreement, each party to this Agreement shall make the following contributions to the Project and be responsible for the following: (a) Bossier City and Shreveport shall: (i) Be responsible for, and fund or obtain funds from other sources (some of which are identified below), for the design, development and construction/installation of the Project (with Waterway Commission assistance for installation only, as provided below), which shall include but not be limited to engineering services, IT services, acquisition of the LED lights and other equipment and technology (hardware and software) needed to operate the LED lights, a computer/lights programmer, etc.; (ii) Completely operate, maintain, secure, repair and replace the Project for a minimum of 20 years. Bossier City and Shreveport shall be responsible for and shall provide, at no cost or obligation to the Waterway Commission, all funds and personnel necessary and appropriate for the 20-year operation, maintenance, security, repair and replacement of the Project. The operation, maintenance, security, repair and replacement of the Project shall be performed by Shreveport and Bossier City in a manner satisfactory to the Waterway Commission and in a manner in compliance with the laws, ordinances, rules, resolutions, and regulations of the State of Louisiana and United States Government, which are now or hereinafter enacted; (iii) Obtain all necessary permits, licenses and rights of way or rights of use for the design, development, construction/installation, operation, maintenance, security, repair and replacement of the Project, including without limitation to licenses or permits from the State of Louisiana Department of Transportation and Development (LADOTD), the owner of the Bridge; (iv) Require proper insurance coverage with adequate limits for the type of work required, including maritime insurance coverage for work on, or over, the river; (v) Secure the following funding for the Project (which has already been committed): One Million Dollars ($1,000,000) to purchase the LED lighting system; Two Hundred Fifty Thousand Dollars ($250,000) from the Louisiana Public Service Commission; Twenty Thousand Dollars ($20,000) from the National Endowment of Arts; and One Hundred Ninety-One Thousand Two Hundred Fifty Thousand Dollars ($191,250) from other fundraising; Note: Should any of these funding commitments decrease, Shreveport and Bossier City shall be responsible for the difference or shall obtain funding from other sources. (vi) Contribute to the Project all funds in excess of the amounts committed in 1.(a)(iv) above and by the Waterway Commission in 1(b) below which are necessary to design, develop, construct/install, operate, maintain, secure, repair and replace the Project; (vii) Ensure the Project is substantially completed by December 31, 2021. If the Project cannot be substantially completed by December 31, 2021, as a result of delay directly caused by a Force Majeure, Bossier City and Shreveport shall request a reasonable alternative substantial completion date from the Waterway Commission, which request shall not be unreasonably denied.

Cooperative Development. Subject to the terms and conditions set forth in this Agreement, each party to this Agreement shall make the following contributions to the Project and be responsible for the following: (a) Bossier City and Shreveport shallagree as follows: (i) Be Bossier City and Shreveport shall be responsible for, and fund or obtain funds from other sources (some of which are identified below), for the design, development and construction/installation of the Project (with Waterway Commission assistance for installation only, as provided below), which shall include but not be limited to engineering services, IT services, acquisition of the LED lights and other equipment and technology (hardware and software) needed to operate the LED lights, a computer/lights programmer, etc.; (ii) Completely Shreveport shall completely operate, maintain, secure, repair and replace the Project for a minimum of 20 years. Bossier City and Shreveport shall be responsible for and shall provide, at no cost or obligation to the Waterway Commission, all funds and personnel necessary and appropriate for the 20-year operation, maintenance, security, repair and replacement of the Project. The operation, maintenance, security, repair and replacement of the Project shall be performed by Shreveport and Bossier City in a manner satisfactory to the Waterway Commission and in a manner in compliance with the laws, ordinances, rules, resolutions, and regulations of the State of Louisiana and United States Government, which are now or hereinafter enacted; (iii) Obtain Bossier City and Shreveport shall obtain all necessary permits, licenses and rights of way or rights of use for the design, development, construction/installation, operation, maintenance, security, repair and replacement of the Project, including without limitation to licenses or permits from the State of Louisiana Department of Transportation and Development (LADOTD), the owner of the Bridge; (iv) Require Bossier City and Shreveport shall require proper insurance coverage with adequate limits for the type of work required, including maritime insurance coverage for work on, or over, the river; (v) Secure Bossier City and Shreveport shall secure the following funding for the Project (which has already been committed): One Million Dollars ($1,000,000) to purchase the LED lighting system; Two Hundred Fifty Thousand Dollars ($250,000) from the Louisiana Public Service Commission; Twenty Thousand Dollars ($20,000) from the National Endowment of Arts; and One Hundred Ninety-One Thousand Two Hundred Fifty Thousand Dollars ($191,250) from other fundraising; Note: Should any of these funding commitments decrease, Shreveport and Bossier City shall be responsible for the difference or shall obtain funding from other sources. (vi) Contribute to the Project all funds in excess of the amounts committed in 1.(a)(iv) above Bossier City and by the Waterway Commission in 1(b) below which are necessary to design, develop, construct/install, operate, maintain, secure, repair and replace the Project; (vii) Ensure Shreveport shall ensure the Project is substantially completed by December 31, 2021. If the Project cannot be substantially completed by December 31, 2021, as a result of delay directly caused by a Force Majeure, Bossier City and Shreveport shall request a reasonable alternative substantial completion date from the Waterway Commission, which request shall not be unreasonably denied.