1980-0624_ORANGE, COUNTY OF_Lease Duplicate (Unrecorded) 1
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GA 614-5
7 San Juan Capistrano Library
g LEASE
THIS IS A LEASE made this
day o _ . _ , 1980, by and between the CITY OF SAN
1p JUAN CAPISTRANO, hereinafter referred fd as "CITY", and the COUNTY OF ORANGE, herein-
after, referred to as "COUNTY", without egard to number and gender.
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1 . DEMISED PREMISES (A2.1 S)
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ij CITY leases to COUNTY that certain property hereinafter referred to as "Demised
1311 Premises", described in "Exhibit A" and shown on "Exhibit B", which exhibits are
attached hereto and by reference made a part hereof.
14
15 2. USE (N)
16 The Demised Pemises shall be used for public library and related purposes, except as
i otherwise first approved in writing by CITY.
17
18 i 3. CONDITION OF TITLE (N)
19 CITY covenants the COUNTY'S leasehold estate in the Demised Premises is free and clear
of all liens, encumbrances, assessments, easements, leases (recorded or unrecorded) , and
20 taxes, except:
21 A. A Ground Lease dated November 5, 1979 between the Capistrano Unified School
District and the Ci-ty of San Juan Capistrano wherein said District leased the j
22 ; herein described land to the City of San Juan Capistrano for a public library and
related purposes.
23 �
B. Title Exceptions 1 , 2, 3, 4, 5, 7, 8, and 9 as disclosed on First American Title
24 Insurance Company' s Litigation Guarantee Number OR-1292386, dated April 10, 1980.
25
4. TERM (A5.1 N)
26
The term of this Lease shall be for a period of 50 years, commencing on the date upon
27 which construction of the public library upon the Demised Premises is commenced. Should'
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the commencement date occur on a day other than the first day of a calendar month, the
lease term shall continue for a period of aO years from the first day of the next full
2 calendar month following the commencement date. If CITY fails to commence construction
it
of the public library within two years from the date of execution of this Lease by
3 COUNTY, COUNTY shall have the option to terminate this lease by giving CITY written
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notice.
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5 5. CONSIDERATION (N)
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COUNTY'S use of the Demised Premises throughout the term of this lease shall be rent-
7 free in consideration of the $800,000 payment required of COUNTY pursuant to Clause 7
(CONSTRUCTION OF LIBRARY). Said payment shall be deemed to constitute prepayment of
g rent for the 50-year lease term.9 [I I
1 6. DESIGN AND REVIEW (N)
11 CITY, at no cost or expense to COUNTY, shall cause to be designed a library facility
' which shall include a library building containing approximately 10,000 square feet, a
12 60-space parking lot, and appropriate landscaping.
13 The designs, plans and specifications for the library facility shall be subject to
approval of an Architectural Review Committee, hereinafter referred to as "Committee",
14 which shall be comprised of six persons, three representing CITY, one representing
COUNTY'S GSA:/Library Services Division, one representing COUNTY'S GSA/Architect&
15 Engineer Division, and one representative who shall be the Fifth Orange County Super-
visorial District' s appointee to the Orange County Historical Commission.
16 I
COUNTY hereby acknowledges that CITY and the citizens of San Juan Capistrano are
17 extremely concerned that the exterior design and exterior finishes of the library
facility be compatible with the nearby San Juan Capistrano Mission, and COUNTY hereby i
18 agrees that final approval of the exterior design and exterior finishes of the library
facility shall rest with CITY'S representatives serving on the Committee.
19
Approval of the designs, plans and specifications shall be obtained from the' Committee
20 in accordance with the following procedure:
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21 A. Within 120 days after the date of execution of the Agreement by
COUNTY, CITY shall submit to the Committee "schematic plans" for the
22 library facility. The Committee shall , within 30 days after receipt
thereof, communicate to CITY its written approval or disapproval of
23 said schematic plans. Disapproval shall be accompanied with explana-
tions. and ,justifications for such disapproval .
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B. Should the Committee communicate disapproval of the schematic
25 E plans to CITY, CITY shall , within 60 days, complete all necessary
[ corrections and adjustments to said schematic plans and resubmit
26 1 said schematic plans to the Committee for final approval , such
approval not to be unreasonably withheld.
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C. Within 90 days after the date of the Committee's approval of the schematic plans,k
CITY shall submit to the Committee "preliminary plans" for the library facility.
2 The Committee shall , within 30 days after receipt thereof, communicate to CITY its j
I written approval or disapproval of said preliminary plans in the manner set forth ini
3i 6A above.
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41 D. Should the Committee communicate disapproval of the preliminary plans to CITY,
CITY shall , within 60 days, complete all necessary corrections and adjustments to 3
5 , said preliminary plans and resubmit said preliminary plans to the Committee for I
final approval , such approval not to be unreasonably withheld.
6
' E. Within 120 days after the date of the Committee's approval of the preliminary
7 plans, CITY shall submit to the Committee a completed set of plans and specifica-
tions for the library facility. Concurrently with CITY'S submittal of the completed
8 plans and specifications, CITY shall also submit for committee approval a final
draft of the "Request for Bids" which CITY intends to use for solicitation of bids
91 for the library construction contract. The Committee shall , within 30 days after
I receipt thereof, communicate to CITY its written approval or disapproval of said
101 plans and specifications and the Request for Bids in the manner set forth in 6A I
above.
F. Should the Committee communicate disapproval of either the plans and specifica-
12 ' tions or the Request for Bids to CITY, CITY shall , within 60 days, complete all
necessary corrections and adjustments and resubmit said plans and specifications
13 and/or the Request for Bids to the Committee for final approval , such approval not
' to be unreasonably withheld.
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7. CONSTRUCTION OF LIBRARY (N) 1
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CITY shall cause to be constructed upon the Demised Premises a library facility in
16 accordance with the plans and specifications prepared by CITY pursuant to
' Clause 6 (DESIGN AND REVIEW) above. For such construction, COUNTY shall contribute the E
17 total sum of $800,000, which shall be deposited by COUNTY into a construction escrow
within 30 days after CITY has awarded a contract for construction of the library faci-
18 � lity. Should the estimated cost of construction exceed $800,000, CITY shall deposit
the balance of the estimated construction cost into the same construction escrow con-
19 currently with COUNTY'S deposit. The money contributed by COUNTY and CITY shall then !
be made available to CITY on an incremental basis as provided in escrow instructions
20 identical to those attached hereto as Exhibit C and by reference made a part hereof.
21 Subsequent to the completion of the construction of the library facility by CITY, CITY
shall obtain approval and acceptance of the completed construction fror, COUNTY'S GSA/
22 Architect & Engineer Division. Said acceptance shall be manifested by letter from
COUNTY'S GSA/Real Estate Division and shall not be unreasonably withheld.
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24 S. REPAIR, MAINTENANCE AND JANITORIAL SERVICES (All .2 N) i
COUNTY shall provide, at its own cost and expense, all repair, maintenance, and janitor-
25H jai services to the library building.
26 � 9. OPERATION AND MAINTENANCE OF PARKING FACILITIES AND LANDSCAPED AREA (N) I
27 ' CITY shall operate and maintain all parking areas, roads, walks, and landscaped areas
within the Demised Premises.
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1 10. UTILITIES (N)
2 Utilities for the library building shall be metered separately from the landscaping and
parking area utilities. COUNTY shall then pay all charges for utilities supplied to the
3 library building. CITY shall pay all charges for utilities supplied to the remainder
of the Demised Premises.
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11 . OPERATION OF THE LIBRARY (N)
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COUNTY shall provide an operating staff consistent in quality and quantity with other
6 Orange County public library branch facilities of comparable size and activity.
7 COUNTY shall maintain the staff, hours of operation, and collection of library materials !
consistent with other Orange County public library branch facilities of comparable
8 size and activity, throughout the term of this Lease.
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9 In the event that reductions .of staff and materials are ordered by appropriate authority
for the Orange County public library system, such reductions may be rude by COUNTY in
10 this branch consistent with comparable reductions throughout the system.
11
12. OWNERSHIP OF IMPROVEMENTS AT EXPIRATION OF LEASE (N)
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Upon expiration of the term of this lease, all real property improvements on the Demised
13 Premises shall , without compensation to COUNTY, become the property of CITY. All per- '
sonal property items belonging to COUNTY, including but not limited to books, shelving,
14 furniture and office equipment, shall remain the sole property of COUNTY and COUNTY
shall have the right to remove same from the Demised Premises.
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13. OBLIGATION TO PURCHASE (N)
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Should CITY at any time withdraw from the Orange County library system, CITY shall
17 [ immediately purchase all of COUNTY'S rights, title and interest in the Demised Premises,
including the library building, parking facilities, landscaped area, and other improve--
18 meats, according to the terms and conditions set forth below.
19 A. CITY shall give written notice of its intention to exercise its option to
purchase at least six months in advance of its exercise of said option.
20
B. The purchase price for the purposes of this option shall be fixed as of the
21 3 date that the above--mentioned notice is given to COUNTY, and shall be determined
according to the following formula:
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Where: P = Purchase price of the option
24 A = 5800,000 + ( 800,000 x B)
B = Percentage change in the Consumer Price Index between commencement
25 date of this Lease and the date on which CITY gives notice to
I COUNTY of its intention to exercise the option to purchase
26 C = Number of years since the commencement date of this Lease.
271 C. Within six months after CITY has given COUNTY notice of its intention to exer-
cise the option as provided above, CITY shall pay to COUNTY the purchase price as
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1 herein provided in cash. Upon payment of said purchases price, COUNTY shall deliver
to CITY a properly executed quitclaim deed conveying all of COUNTY'S right, title,
2 � and interest in the Demised Premises to CITY.
31 D. All personal property items belonging to COUNTY, including but not limited to
books, shelving, furniture, and office equipment, shall remain the sole property of
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COUNTY should CITY exercise its option to purchase the library facility.
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0 14. INDEMNIFICATION (N)
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COUNTY shall indemnify and save harmless CITY, its officers, agents, and employees, `
7 from and against any and all claims, demands, losses, or liabilities of any kind or
nature which CITY, its officers, agents, and employees may sustain or incur or which
g ; may be imposed upon them or any of them for injury to or death of persons, or damage
to property as a result of, or arising out of, the sole negligence of COUNTY, its
g officers, agents, employees, subtenants, invitees, or licensees, in connection with
the occupancy and use of the Demised Premises by COUNTY.
10
Likewise, CITY shall indemnify and save harmless COUNTY, its officers, agents, and
11 employees from and against any and all claims, demands, losses, or liabilities of any I
kind or nature which COUNTY, its officers, agents, and employees may sustain or incur or
12 which may be imposed upon them or any of them for injury to or death of persons, or dam-
age to property as a result of, or arising out of, the sole negligence of CITY, its
13 officers, agents, employees, or licensees, in connection with the ownership, mainte-
nance, or use of the Demised Premises. 3
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15 � 15. INSURANCE (N)
16 A. Fire and Extended Coverage. COUNTY shall , at no cost or expense to CITY, keep
insured the improvements constructed by CITY upon the Demised Premises against
17 loss or damages by fire and risks customarily covered by extended coverage endorse-
ment, and vandalism and malicious mischief, in amounts not less than 901 of the
18 actual replacement cost of said improvements, exclusive of the cost of excavations,
foundations, and footings.
19
B. General Liability. CITY and COUNTY shall each maintain in force throughout
20 the term of this lease comprehensive liability insurance against claims for personal
injury or death and property damage occurring upon, in, or about the Demised Prem-
21 ises or on, in, or about the adjoining sidewalks and passageways, such insurance to
afford protection to the limits of not less than Five Hundred Thousand Dollars
22 ; ($500,000) for any one injury, One Million Dollars ($1 ,000,000) for any one occur-
rence, and One Hundred Fifty Thousand Dollars ($150,000) for property damage.
23
[ C. Policies and Certificates of Insurance. All insurance provided for in this j
24 section shall be ettected under Certificates of self-insurance or valid and enforce- j
I able policies, issued by insurers of recognized responsibility, qualified to do
25E business in California. Upon the execution of this Lease by COUNTY and thereafter
! not less than 30 days prior to the expiration dates of the expiring policies there-
26 tofore furnished pursuant to this section, CITY and COUNTY shall deliver to the
other party certificates evidencing such insurance which each party is required
27 to carry as provided by Sections A and B hereinabove. Said certificates shall pro-
vide, inter alia, the following: E
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(1 ) COUNTY'S policies shall include CITY, its officers, agents, employees,
council members, and servants as additional insureds; and
2
(2) CITY'S policies shall include COUNTY, its officers, agents, and employees
3 as additional insureds; and
4 (3) Such policies shall not be cancelled or materially changed without at leash
30 days` prior written notice to the additional insured; and
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(4) All insurance policies shall insure performance by the policyholder of the
6 indemnity provisions of Clause 14; and
7 (5) Each policy shall contain cross-liability endorsement; and
8 ; (6) All insurance policies pursuant to this section shall be written as
! primary policies and shall not contribute to or be in excess of any coverage
9 which CITY or COUNTY may carry; and
10 (7) Any loss shall be payable to the additional insured notwithstanding any act ;
or negligence of the policyholder which might otherwise result in forfeiture of
11 said insurance; and
12 16. SURRENDER OF LEASE PREMISES (N)
13 COUNTY shall surrender to CITY the possession of the Demised Premises at the expiration
or earlier termination of this lease.
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17. NOTICES (A18.1 S)
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All notices pursuant to this Lease shall be addressed as set forth below or as either
16party may hereafter designate by written notice and shall be sent through the United !
States mail .
17 E I
TO: CITY TO: COUNTY
1$ E it
City of San Juan Capistrano County of Orange
19 32400 Pasco Adelanto GSA/Real Estate Division
San duan Capistrano, CA 92675 P. 0. Box 4106
20 Santa Ana, California 92702
and
21 County of Orange
GSA/Library Services Division
2213 431 The City Drive j
Orange, California 92668
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18. ATTACHMENTS (A19.1 S) i
24 This Lease includes the following, which are attached hereto and made a part hereof:
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251 I. GENERAL. CONDITIONS
26 II. EXHIBITS
A. Description
27 !; B. Plot Plan
C. Escrow Instructions
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IN WITNESS WHEREOF, the parties hereto have executed this agreement the day and year
first above written.
2 1 CITY
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3 CITY OF AN JUAN CAPISTRANO [
4 �—
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I James S . �"10cal`i s , City Manager
f
y,
County Counselel
APPROVED AS FORM: Mary AngAanover, city Clerk
'] Bated June 9, 19817 i
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9 APPROVED AS TO AUDIT AND ACCOUNTING:
Auditor-Controller
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By
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12 � RECOMMENDED FOR APPROVAL:
13 iGeneral Services Agency
14 31 ►ibrary Services Division
15 B
f"
16 i
17 jFacilities & Real Property
Architect & Engineer Division
13 E
19By C.W. ENDSLEY
[
20 Real! at-e
visio
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By
22 Re ! �Qperty gent,'
23 y anag_, �!
24 1ATTEST:
1
2511 COUNTY OF R NGE
y
26 !4A�L�EXXANDER -- By Chairman, B rd of Supervisors
27 ;Clerk of the Board of Supervisors of
range County, California
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_.�._...-.---. — --.-v.�_.._.�--_._...�.-.._____..._-...___..___. .._—.-_._—._....._._..�__.._.._.__....._—._..............-�.�...-_.�.�.-._—__..__. SII
ATE OF GALIFORN A,
Orange l
OF
it
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ity of San Juan Capistrano ON June 9
before nye, the undersigned, a Notary Public in and for the said State, personally appeared I
_jA>.IES S. MOCA Ts-__. =-_...._J__ known to me to be the j
I City �xa _ P�sas artd_ My_ANI IT7�NOVFt known to me
f to be the ity� ' ._ �Of-- ee_Ca�ty of San Tuan Capistrano ;{'e
OFFICIAL SEAL __—xqunicipal ___ — —�.. _ —._._ _— I
CHERYL A JOHNSON the/Corporation that executed the within Instrument, known to me to be the persons who
r NOTARY PUBtlC - CALIFORNIA executed the within Instrument, an behalf of the Corporation herein named, and acknowledged
or a
ORANGE COUNTY to me that such Corporation executed the within Instrument pursuant to its by-laws ora
DHy comm, expires DEC 28, 1981 resolution of its board of directors.
WITNESS my hand and official Seal j
�taryubliE in a r said State.
OWL EDGMENT---Corp.—Pres. &Sec.—Woleotts Farm 226---Rev.U4
TE OF CALIFORNIA
SB.
NTY OF ORANGE
On this day of 19 , before me, the under-
ned, a Notary Public in and Eor sala County an-d-19tate, residing therein,
y commissioned and sworn, personally appeared
of the Board of Supervisors 6E Orange County,
i oEia, sala Board acting as the governing board of Orange County Flood
trot District. is known to me to be the per-
described in anU whose name is subscribed- to the within instrument, and
nowledged to me that he executed the same on behalf of said Orange County
od Control District of Orange County, and as such officer thereof.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
the day and year in this certificate first above written.
Notary Public in and for sa�-
County and State
My Commission Expires
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1 I . GENERAL CONDITIONS (A20 N)
21 1 . LEASE ORGANIZATION (A20.1 S)
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31 The various headings in this Lease, the numbers thereof, and the organization of the
Lease into separate sections and paragraphs are for purposes of convenience only and
4 . shall not be considered otherwise.
5
2. INSPECTION (A20.2 S)
s
CITY or its authorized representative shall have the right at all reasonable tines to
71 inspect the Demised Premises to determine if the provisions of this Lease are being com- i
[ plied with.
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9 3. SUCCESSORS IN INTEREST (A20.3 S)
101 Unless otherwise provided in this Lease, the terms, covenants, and conditions contained
herein shall apply to and bind the heirs, successors, executors, administrators, and
11 assigns of all the parties hereto, all of whom shall be jointly and severally liable
hereunder.
12 �
13 4. COST OF SUSTAINING AN ACTION FOR BREACH OR DEFAULT (A20.4 S)
In the event either CITY or COUNTY commences legal action against the other claiming a
14 breach or default of this Lease, the prevailing party in such litigation shall be enti-
tled to recover from the other costs of sustaining such action, including reasonable
15 attorney fees, as may be fixed by the Court.
16 5. CIRCUMSTANCES WHICH EXCUSE PERFORMANCE (A20.5 S)
1.7E If either party hereto shall be delayed or prevented from the performance of any act re-
quired hereunder by reason of acts of God, restrictive governmental laws or regulations,
18 or other cause without fault and beyond the control of the party obligated (financial
inability excepted), performance of such act shall be excused for the period of the de-
19 lay; and the period for the performance of any such act shall be extended for a period
equivalent to the period of such delay. However, nothing in this clause shall excuse
20 leither party from the prompt payment of any rental or other charge required of them ex-
k ept as may be expressly provided elsewhere in this Lease.
21
22 € 6. AMENDMENT (A20. 7 S)
2
This Lease sets forth the entire agreement between CITY and COUNTY and any modifica-
24 tion must be in the form of a written amendment.
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25 7. PARTIAL INVALIDITY (A20.8 S)
26
If any term, covenant, condition, or provision of this Lease is held by a court of com-
27 petent jurisdiction to be invalid, void, or unenforceable, the remainder of the provi-
sions hereof shall remain in full force and effect and shah in no way be affected,
28 impaired, or invalidated thereby.
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1 8. WAIVER OF RIGHTS (A20.9 S)
2 The failure of CITY or COUNTY to insist upon strict performance of any of the terms,
conditions, and covenants in this Lease shall not be deemed a waiver of any right or
3 remedy that CITY or COUNTY may have, and shall not be deemed a waiver of any right or
remedy for a subsequent breach or default of the terms, conditions, and covenants herein
4 contained.
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9. HOLDING OVER (A20.10 S)
6
In the event COUNTY shall continue in possession of the Demised Premises after the tern
7 of this Lease, such possession shall not be considered a renewal of this Lease but a
tenancy from month to month and shall be governed by the conditions and covenants con-.
8 tained in this Lease.
9
10. TIME (A20.11 S)
10
Time is of the essence of this Lease.
11
121 11 . DEFINITION OF TENANT (A20.12 S)
13 { The term "COUNTY" shall mean the Board of Supervisors of the County of Orange or its
j authorized representative.
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PROJECT: San Juan Library DATE: 05-13-80
WRITTEN: R.L.L. CHECKED: E.L.H.
PROJECT N0. GA614
PARCEL, NO. 5 :
That portion of Lot 8 of Tract No. 103 in the City of San Juan Capistrano,
county of Orange, state of California, per map recorded in book 11, pages 29
through 33 inclusive of Miscellaneous Maps in the office of the County Recorder
of said county, described as follows:
.Beginning at the northeasterly terminus of that certain course in the
southerly line of said Lot 8 shown on said map as having a bearing of
S. 70027'00" W. and a. length of 372.60 feet ; thence S. 70027'00" W. , 170.00
feet along said certain course; thence N. 22029'00" W. , 350.00 feet along a
line which is parallel with that certain course cited as having a bearing of
N. 22.029' 00" W. and a length of 1041.30 feet in the deed to Capistrano 'Union
High School District of Orange County, recorded August 1, 1921 in book 403,
page 32 of Deeds in the office of said County Recorder; thence parallel with
said first mentioned certain course N. 70°27'00" E. , 198.06 feet to said last
mentioned certain course;• thence along the boundary line of the land described
in said deed the follcwing courses: S. 22029'00" E. , 232.21 feet to the
southerly terminus of said last mentioned certain course; S. 89054'007' W. ,
30. 30 feet; and S. 22029'00" E. , 127.80 feet to the point of beginning.
1. SCOTT
ht of V a$ Engiriler,
NAYSUPIARA
"Re1;stere� Civil Egineer
Certificate No. 12550
EXHIBIT A
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RIMOWAY 446CAIe r r rRACT 60F/HOARY
! ! LIBRARY SITE I
3 l5!aR>°9 6fif159 / I O I jj
121 ACRC5 NPT I
LOT 8 T R ACT 103
1 CAPiSTRANO UNIFIED SCHOOL DISTRICT
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Escrow Instructions GA 614-5
Page 2 San Juan Capistrano Library
1 ) Written notice from County's GSA/Real Estate Division that the
library has been completed in accordance with the designs, plans and
specifications, and that the completed construction is approved and
accepted.
2) Evidence from City that City has filed a Notice of Completion of
the library, and that the statutory time period for the filing of
mechanics' liens has expired.
3) Written notice from County's GSA/Real Estate Division that the
County's leasehold estate in the library has vested in the County in
accordance with the provisions of Clause 3 (CONDITION OF TITLE) of
the attached Lease.
3. PAYMENT OF ESCROW COSTS
City shall pay all escrow costs.
4. CLOSE OF ESCROW
If, after making the final disbursement to City's General Contractor, there
are funds remaining in escrow, you shall within five (5) working days after
the final disbursement is made return the remaining funds to City and County
in the following manner:
A. If the amount of construction money paid through escrow equalled or
exceeded $800,000, you shall pay to City all remaining escrow funds less
current escrow charges.
B. If the amount of construction money paid through escrow is less than
$800,000, you shall pay to County the difference between $800,000 and the
actual cost of construction. The remaining funds shall be paid to City
as provided in paragraph 4-A of these Escrow Instructions.
Upon making the final disbursement to City's General Contractor, and paying
all remaining escrow funds, if any, to City and County, this escrow shall close.
5. EARLY TERMINATION OF ESCROW
This escrow shall be cancelled if, not earlier than 120 days after the com-
mencement of this escrow, County notifies you in writing that construction
of the San Juan Capistrano Library has not begun. A copy of such written
notification shall be immediately mailed by you to City at the address shown
in Clause 17 (NOTICES) of the attached Lease, or as otherwise requested by
City in writing. No funds shall be returned to any party until 5 working
days after receipt of notice from County. After 5 working days, the sum of
$800,000 shall be paid to County. All remaining funds are to be paid to City,
less current escrow charges, and escrow shall be cancelled.
GDS/ca
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GA 614-5
San Juan Capistrano Library
CONSTRUCTION
ESCROW INSTRUCTIONS
ESCROWEE: Capistrano National Bank, San Juan Capistrano, California
ESCROW NUMBER: 4007-P
1 . DEPOSIT OF FUNDS
County shall desposit with you the sum of $800,000 in accordance with the
provisions of Clause 7 (CONSTRUCTION OF LIBRARY) of that certain Lease number
GA 614--5 between the City and County, which is attached hereto.
Concurrently with County's deposit, City shall deposit with you a sum of
money equal to the total of estimated construction cost of the library (said
estimate to be submitted to you by County) , less $800,000.
All funds received in this escrow shall -be deposited into your general escrow
account or accounts. Until paid out for construction, as provided herein,
all the funds shall be placed in an interest-bearing account which shall draw
interest in an amount not less than the prevailing interest rate for standard
"passbook" accounts. All sums earned as interest shall be paid to City and
County on a quarterly basis, City and County to receive a pro rata share of
said interest payment based on the amounts of money deposited by each party
into this escrow.
2. DISBURSEMENTS
A. Progress Payments
On or about the first day of each calendar month following commencement of
construction of the library, City's General Contractor shall submit to City
a certified invoice showing the estimated cost of labor performed on and
materials incorporated into the library facility, a pro rata portion of the
general contractor's profit and that pro rata portion of the general con--
tractor' s overhead attributable to the construction of the library. The
original of such certified invoice, certified true and correct by the
general contractor and approved by CITY'S Chief Building Official and
COUNTY'S Manager of GSA/Architect & Engineer Division or his designee,
shall be submitted to you for payment. Upon your receipt of the approved
certified invoice, you shall disburse to City's General Contractor 90% of
the amount of the respective approved certified invoice.
B. Final Disbursement
The final disbursement shall be the payment of the 10% withholdings retained
from progress payments as set forth above. You shall make the final disburse-
ment to City' s General Contractor only after your receipt of the following:
GDS/afa
53-14-1
6.110 EXHIBIT C