Construction Agent. 16 SECTION 5. ACQUISITION OF COMPONENTS; FINANCING. . . . . . . . . . . . . .19
Construction Agent. Borrower acknowledges and agrees that BNP Management, Inc., in addition to its property management services described herein, shall serve as Borrower's agent-in-fact for purposes of supervising and exercising Borrower's rights under the SouthTrust Loan and this Loan. In consideration of such services, Borrower agrees to pay BNP Management, Inc. on or before the first advance of the Loan, a fee equal to $26,400.00 and to fully reimburse BNP Management, Inc. for all costs and expenses incurred directly or indirectly by BNP Management, Inc. in connection with the supervision and implementation of the SouthTrust Loan and this Loan, including without limitation, personnel costs, travel costs, overhead, closing costs, all bank fees and related expenses and attorneys' fees. Borrower further agrees that so long as BNP Management, Inc. acts within the scope of its authority under this Agreement and is not guilty of any willful misconduct or gross negligence, Borrower shall indemnify and save harmless BNP Management, Inc. from any and all liabilities, costs, claims, expenses and damages, including reasonable attorneys' fees, in connection with or related to BNP Management, Inc.'s supervision and implementation of the SouthTrust Loan and this Loan. Notwithstanding anything contained herein to the contrary, under no circumstances shall BNP Management, Inc. be deemed a general contractor for the Property, but instead, shall be deemed the agent-in-fact for the Borrower. In addition, Borrower agrees to pay BNP Management, Inc. a loan fee equal to $52,125.00 on or before the first advance of the Loan, which fee is due and deemed earned as of the date of such initial advance of the Loan for services rendered by BNP Management, Inc. in connection with the SouthTrust Loan.
Construction Agent. The City has contracted with the YMCA to serve as the City’s Construction Agent for the Project. The City may communicate to the Architect/Engineer or perform the City’s responsibilities under this Agreement by or through the YMCA; provided however, the YMCA shall not have any authority to make or provide any agreements, approvals, consents, waivers or similar decisions to be made by the City under this Agreement.
Construction Agent. XXX or its designee, which shall serve as construction agent for the Project and for the construction of the Work.
