Common use of Trail Construction Clause in Contracts

Trail Construction. Developer shall be required to commence construction of the Trail Project within thirty (30) days after completion of the Trail Planning Process. Developer shall contract with Avenue Construction (or other qualified general contractor) and V3 Companies (or other qualified engineering firm) as project engineer for the construction of the Trail Project under a guaranteed maximum price contract or similar type of contract (the “GMP”) at a cost not to exceed Six Hundred Fifty Thousand Dollars ($650,000) (the “Cost Cap”), with the Parties recognizing that the Developer’s financial obligation is limited to the Cost Cap and that the final cost of the Trail Project will not be known until the surveying and design are complete and land acquisition is negotiated, after which the contract may be written based on available funding and the applicable scope that can be covered by the available funding. Upon commencement of construction, Developer shall complete the Trail Project within twelve (12) months, subject to Force Majeure. Upon completion of the Trail Project, Developer shall convey the Trail Project to Commission or its designee free of any liens or other encumbrances that evidence an obligation on the part of Developer or its affiliated entities to pay money to third parties.