7.3 SR 03-01-2021 - Laserfiche WebLink

Home Browse Search

(a) Within 30 days following this Amendment, Landlord shall cause to be prepared, at Landlord's sole cost and expense, architectural, engineering and construction drawings and specifications, including an estimated construction cost breakdown (including hard and soft costs) and a proposed construction schedule (collectively, the "Preliminary Addition Plans"). Landlord and Tenant will, in good faith, cooperate with each other in the preparation of the Preliminary Addition Plans and shall provide the other parry with such additional information as may be requested in order to prepare the Preliminary Addition Plans in a manner which will be consistent with the intended use by Tenant of the Building Addition. (b) Tenant shall approve or disapprove the Preliminary Addition Plans within five (5) business days after receipt. If Tenant disapproves the Preliminary Addition Plans, (1) Tenant shall advise Landlord for the reason for such disapproval and shall detail the aspects of the Preliminary Addition Plans which are not acceptable to Tenant, and (ii) Landlord shall modify the Preliminary Addition Plans, taking into account the reasons given by Tenant for such disapproval, and shall submit revised Preliminary Addition Plans to Tenant within ten (10) days of receipt of Tenant's disapproval for Tenant's review. Tenant and Landlord shall continue pursuant to this Section 2(b) until Tenant has approved the as -revised Preliminary Addition Plans, which once approved, shall be the "Final Plans". To the extent required by Applicable Law, Landlord shall use commercially reasonable efforts to obtain (or cause Contractor to obtain) approval of the Final Plans by the City of Elk River and to obtain any necessary permits for the Building Addition Work. 3. Construction Contracts. Landlord shall enter into a construction contract for the performance of the Building Addition Work with Contractor. Landlord shall use commercially reasonable efforts to obtain at least three (3) bids from each trade. 4. Cost Estimate. (a) Landlord shall provide Tenant with a cost proposal (the "Cost Proposal") in accordance with the Final Plans, showing all anticipated hard and soft costs of the Building Addition Work, all architectural, structure, civil design, geotech, environmental, development and permitting fees and costs and a management fee payable to Landlord in the amount of 4% of the cost of the Building Addition Work (the "Construction Management Fee"). (b) Within ten (10) days of the receipt of the same, Tenant shall either: (1) approve the Cost Proposal; or (ii) have a one-time right to propose modifications to the Preliminary Addition Plans in order to reduce the cost. Any proposed changes to the Preliminary Addition Plans shall be subject to Landlord's approval, which approval shall not be unreasonably withheld, conditioned, or delayed. If Landlord approves the proposed revisions: (A) Landlord shall have the Preliminary Addition Plans revised in accordance with the approved revisions; and (B) Landlord shall submit a revised Cost Proposal to Tenant. Tenant shall notify Landlord in writing within five (5) days whether it desires to proceed with such revisions. If Tenant fails to approve such revisions and revised Cost Proposal within such five (5) day period, such failure shall be deemed to be a Tenant Delay. Any delays arising from further changes to the Preliminary Addition Plans requested by Tenant shall be deemed to be Tenant Delays. (c) Tenant's final approval of the Cost Proposal and the Final Plans shall be authorization by Tenant for Landlord to purchase all materials set forth in the Cost Proposal and to promptly commence the construction of the Building Addition Work in accordance with the Final Plans.