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LAVENTHOL & HORWATH - 1990-06-04
Wl' • 3- W. Jill )IM i, Ist, I. j t' #h, Q: '- f"yr . A • 4SV e Ilf~t.lJ;I V t F • is • 1 4 f t-, 1 r*['. 1 -71 6, 4 W. I n�i Iss— A: - 4C .-A HUNTINGTON BEACH CITY OF CALIFORNIA 92648 r op 200 MAIN STREET CLERK OFFICE OF THE CITY A Is,— -is- 0- 4 A L so Ij- Vr rr June 14, 1990 Pi� 4 Laventhol & Horvath a 650 Town Center Drive V11 Suite 1100 Costa Mesa, CA 92626 jil City of Huntington Beach at the regular meeting e City Council of the C % The d ve"Inpilient. June 4, 1990, approved an Agreement between the Re e held Monday, Ju k, ) - �t�rrl ,l{ M' It A f;N, ' , 'r,tt1,. 11 1... 1 . :! City of Huntington Beach and Laventhol & Ijorvath for Agency of the C es and estimates 45,;t"i"140 market study, prospective financial analYs preparation of tax for Waterfront Hotels. of prospective transient occupancy agreement for your records, executed copy of the Enclosed Is an 9. I.A. is', Connie Brockway City Clerk 6f CB:bt 44 Eric. so :4 a 4 (Talephanot 714.530-62271 Fl! 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",�/ i 51 f , 1 t: 7 > ','I}: ;"t)�fr_ '� ".,fr (, , )r t /, t' •� 1 �; 1 If I r' #1, I l :7 - js t .. c r f •-S. - f, at' it j ., 1] 1'? i jo • I7 ? }t- ,.a. r. 1.: ' r •.! ' , 1 t � 1✓r1, :. -♦ ,.. t 1" . 1•. 1 t 1 } •i 2 fp ,r a:' -in. .r: 7• 't c�>< 1 �. 3 ' 2/�G .n ,tY .�.4,� -1 i1:. __..,. .II ... r,,. _. •7 1. 71 i`• �, r ;_,-'' Y i1• , : , I )t :;' ra} ' .tip 7 . s ttf '.�) '. �., , ` -� l� Q SST FOR CITY C ;U ! n�:, REDEVELOPMENT AGE�NC� . I i,' '; ', Ik =' t • Ei I. Date i't f i1 fr; ; ! l 3, .' ..7..i!' .r.. (. ; ':'.'••, )}". ~ Submittod to: Honorable. Mayor and City Council Membe j>� ,i,s 7 , t , ' . - 1 '� i Submitted by: Michael To Uberuaga, City Administrator t �- r t r 71pi�. '• iI �i ,,C,:( r , ^t' i t'# Pro.;crestl by: Robert J. Franz, Deputy City' Administrat ,1 , ,, 7r - " <r : r , ' .1 t t ,2 •a. 1 Sut,,rect: 'V�'P_TERFRONT PROFINANCING —1 Y Jti Conslst-nt with Council "olicy7 ��(1 Yes (]Now Policy rir ,t' k ,�, 1 it ,'i .J 11 1, 4, 1f�I:1I�, 1I�." -I��UT1 ._A1 ,,1 __'. .I Z.-I.1 II I 1;_..IWC.. II, a.�." �. ,ri,1I i.S.�,,.T. 1,-;I1'�4II:, ,,1.1;,�I1-I.! , 1I � _��,I., . -I -0 1'., j . I X'I.l"�1, .,'—, ,,.i— ,`Na..,k;�.- � -.t� :'�� .1, .�. ;;11':., ,.., ;I . ",�4, . .111.�. �I��I - i.I . I,1"1., -_,f_� 4,- ,,.� , �I��I \,.-� , ; " I .- .!" /�,t.� - II �,: I",!I,I--a—, ,,�,,iI!�. .--I-. I , +"Ii t.*, I"�a(.,.h ,�I",. 7..�1-,.., � 0190I_I —�.,. �;FI. ,.. ,I- 11110I, 7 — IIiI.� IEI ,. ,i�.V. 0. .. I - .' t1 0, II_ 1' f t 1 -f.l t r t I ^ r r, ;.., l• ., tr t,. v''.,. ,,, ,"1..J'4",�,:,I,i ,1I-...C, 11 '`.-, -N,)'—,;I ' i i. r t; n 6 r ! �Ct —' 71 .J - rl' h i '0, t .,I t,� t'', rl ", - I ^ r�, 7ii:, 1 ♦tt; t, l41 i71't r,t''' i1 7 r, :',�. 'VYO_ �Ak r, ist ) :; t, n:, r r A., A t, V 1 .,c I ''-� t .� '.c� ; " i�' l r- 7 t r i I' �; A, , �• � a � f, „� -4 t. t{1,t" ,�' 't f 1'� 'AI 1 t,xr', = � s r r t 1 11 1 r LlI �' ,. ..; t' '1 'i n, !f , `. e; l r, .�1, I _t f< , r, lr. `) rtt' j,t : {th .. t 1C i,, ...is '''I {,,i ,, `)�� of r rl,,'-r II , 4, t' ; �3 r'^ r h v 4• l• S a t . t :. 11 4' ' f:. , t / i oUN cL/ . - I7�7I,, t II t Y y t1-i 4 }'. 11 tt fl, 11 Y I -1 11f.. {. J��ne' �S, ].99U gyp, 11 r;,t A, - __ , t' �.+ ..r.w.......�r Irs APP&OVER >sy OtTY GUUNCtL J :" ,I �, [ ti 1; I''t s 1 r,, , ,I • '` rG . or r 1.tr, t ';'I ' r ' ctrY r, tl .q r tly'?1i-' 4 t-, HOTEL CONS I. 1NT f% ` 7, i;,t't i,/,ilk ii" t 7 �ti , Exception ()0 ;. I 'j,L ;fit , y ,Zj. I i f', 5tatument of Issue, Recam:nandation, A}Ulysis, Fundin!; Soured, Alternativa Actions, pttachmants: ��13 1 a7, -, ` I j,,r t' .1t ,tt : i 4 U.�{ . , f t k: 1,rt Sle.J , ;.J '=L7:1t, tX j7 �,;, . t1 �('��j'• ��'��� I•S't+ it t { L i. t t f + ; tLrtLLiLI�r.2fiSLf1. rr .c , ef r �' 0 7i r♦ -jJ ,r'�,'11 ,+' The Redevelopment Agency will need to issue long term debt in order to meet its financial I ,,fix. r. 'i,.tI7 obligations tinder the Disposition and Development Agreement (DDA) with the Robert t, x t! ! • • " '. I Mayer Corporation for, the Waterfront Development Project. kn independent analysis and � �iI� , ,I . , i� projection of the Agency's Transient Occupancy Tax revenue: from the project is neq. gd in ,' =i% �'` '"; : order to issue a public debt offering. � x L }ySi( 'r ;,t�{)r f 11 ' ,1 ... �ix�i'.r�1� �.1301�i `�, ,10-4rn <: , r" ` ` �. Approve the agreement with Laventhol & Horwath, to prepare: Transient Occupancy JAx _;, Mm ' : +:, rt l Ut x, . •'(, 1 j revenue projections for the Waterfront Development Project. I1} \ { r _t -1 r j` ` .7�.. % 1 i v�1 .- C7 I:fl, { f l r(5 N�S: - on ' r• . t, ' �, �: y ".a� Under the DDA f& the Waterfront Development Project, the Agency is obligated to • ,,�,•:�, sf 1v ,'._ r1,r'' r,� ti expend Agency ft nds in excess of $20 million for public improvements and mobile home ' - • `~ r„ " ' park reloca tia. Since the Agency doe: not have this amount of available cash, at least a �;�.,' r i.II�I IT'f , Jj1 Z`,,�Ir ', t portion of these costs will need to be funded by a long term del;t issue. The debt"would be V"'11,1111, pp 1 r7 f ;, , repaid from tax Increment revenues and t. ansient occupapcy tax revenues available to the r, z �; , t, z 4t ; Agency. Although staff and the developer can prepare estimates of these revenues, a ' ,i rI : F t• , t -4Ci ,} p ,q Independently prepared analysis of these future revenues. ttt a�" i , ,+ ',�i3�,; ? �1 ' r ublic debt offering rP uire. an in a endent 1 ♦;', ti ..A., � si�'l Laventhol & Hoi watt performed this analysis for the developer in,early 1989. ; The '.,� developer has indicated that their projections proved to be justified and their work was i cL! ,1 • pr J ,l !, ` rI� =', h a 1 ?'': 1 I performed in a timely manner. Staff has selected Laventhol & Horwath for current 11 ,', , ,fit ra 4 ; , "r �',r •r assignment because of their past performance and the fact that the current project , J�?���rl,a� f�" r'A, `n1 ' d I th i 'or rojeCtions as o rived to startin from the beginning steps 'I'; I IUM r i (J", , ;',tf 1 ,'y rt. t �, (r ()j, t-r �r hJ tt'a t, �; l 'i L II.ir, �!'t ',�� ni . !C}, ,represents up nt rig e r p p pp S - ' ,_ of the Transient Occupancy tax analysis. For this reason, they can complete this project faster and for less cost than other firms. Their proposed fee is based on hours required plus expenses. The'estimated total cost of these services is $45,000. The costs are to be repaid to the Agency from the proceed3 of the debt issue. If the Phase II hotel of the Waterfront Project is not built, the public debt would not be issued. The Agency would expect tobe reimbursed by the Robert L. Mayer Corporation for these costs in that event. We have begun discussions with the developer to have a formal reimbursement agreement for these costs. k , /• 1 r Z. 7r r �I-,C.,jNIt' 1 I'i;ri ��,:i , ., ' t r i ,' 1 f1,f T `. r1. �!,-, 1) all tf 4" t. ;� 4'tt1'f.....,i 5l,i L Y '.ti its, �i tl. s +, 11 '-1i-,,*r. , Y hr :itit r y't .Lr 1'i' ,_ �' ►, t J ,.r lJ t- .�t st .„� ,,, ' 1,, r1II C.rr!, {1 r , �, �t "'!, z,, ,- I I f {. 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Tentative Timetable for Debt Issue AMENATIMM Xf 4, F It f2 EMMEIM29M In 1. 'Wait to retain consultant until entitlements are obtained for the Waierfront Phase 11 hotel. This would delay the debt Issue by a least three months and, therefore, delay the Agency's ability to meet its commitments under the DDA. 2. Request additional proposals. RJF;lp 5741h V! % 00 1/ f i Ir 41, tls.. it 'GT 4,� .4 It .1 A. '14 tr,i Ts, it "A 17 vlr :AAA, N4O Ok k 7 t 1 w�.-..J._., lj',,.tl�..-..i,•'4 . 4 ", .. �.,., , r.,... .� ,,. i.. ',. .; _:. t •' t ,. t' X -+ji V 9 4 J " No :4 sn :, .., { <y , i�, .tl. .4. ;,. •"'.. . rf. ', I �'�. .' 'rt :I' ,i r.4 II 1. ',',,,,t ^.' I,.:' it ✓•'-��X' q It r4 �_U "fr Tj J. 41; tc. t—A r. AGREEMENT BETWEEN, THE MEVELOPMENT AGENCY OF 71�iKll � la THE CITY OF HUNTIN6"JVLN PEACH AND LAVERTHOL, St HORWATH FOR PREPARATION OF MARKET 57=Yo, 1.. OSPECTIVE FIINANCIAL iUMYSES AND ESTIMATES OF PR136PECT.KVE, TRANSIENT OCcUPANCr TAX F OR WATERFRONT HOTELS Vr, 01'( � If A,7 ,To�" 'V! I r it o "I L Iv' +y� it � ,s S' �l rf > !� IJ" ..i ..j .� +''.1 t7 1� 1 t4 i J y• S 1I s jj -ilk 1, 4!VA 4% �'j 7 jl —t J;' it P'l Iv. i —iAv, U.. S!j 4' 4t Is"J" If r,t 171 A TV Aj i't �tl 7 i. s t; r27", ■ - Ir a �r ,.,: H'•,i rJ tom. ,�. _:., - .1 �. :t „. 1 y j• AI �i, � f 1' l Y • �,J JT ai' R' .<.�• �ti r.�••i'. < Asw f �• ri tl , l } } tt� • If if ' f 1 ii- I. J _S. S r •r t}• ; ai • 'ZZI,<. r t' ft ' ,•, ,1 ;3'1'' 'd - t•}, s� T+l f;. f 1i lit•' ". .�? 1 u �. ••t t t ^, .!•[1J�L, ..;�',� ,.}:`.�.{ NJ .:::j ; i., ,._.. ,y: y•i; .. ,. rr,1:J �1 :!:}� r. .} � tt.' 'rt fr:a• `y.ij:.,. ,t; .k, f1 —Ar ti . t'i � Est Y i,'.i'i •,��, •.��'.,'<l._ �. _ ,. #. - fr�' If' � I;7• .e .,•` i ., a 1 �'' ;_t }•y '}}, t• ': ��; r - ,1. ia) 'r i'r �.. �i (' 3•,. ` 1 �'t '�, c�.�,p F}=`'.. •'� � �,, �<J, 1' .� •t..: �� ,r. :) ,. ,f.a t r ! ���;b,. 1�1?'; 1�L 1'. 4 r ... , I :, 1,T ., it-,... , ,.a if r�' , r '..t ,•r, t 'ta tJ'�,.`..,k !",��" 1- �j. .. ... , ,l :; • ,, -+,� rill , r,ri, tit i'1' +11 t �� 1 t• f - -. 1 L>;.i .�1 .�1f { f 'a. ''`iJ. '}t•1 i T.k :{, !R 1 - t'1 /" -. � -{r� .(yf ,G. Y ��'{._` � S .-'.•�t'-'•+.. � et: �.;�f�: ;;r. 'L�i'y :..-, ri.. .. 1j ,[•il ti, (% ��•� 7�` '' ,, �jf`]..• ,� (t 'r:r 1 !•_t Ci .• ^ .. ;. .• f'1 .�: r..(r- ^..,��t y�•. tr,', �r�, \l. .i .S l..) t t,.. '! '. ,tY{* t `! ;. . 1 t� :' .. -/1�E1 ;•a J',r .,� ail i/ t 1 , •r P . ;'�;',, :1TVf; } !- 1'1 f' •il 1 t ��; `�, t 1' fit, 7 ` r • � �'�� lr '!' "< i •.. ::`i , i f,t ,!"�' �/! J t..-' ,12r .!'t i'r :IJIA li �l, , 1- t1 la ,L�,. }y ?J�x: } `1� t,, '.. t •�,.`.f• ,' •r ,.x A•.M .�,-.-. ,r.•,f1J< ,• ,, • ! - ♦ ,r,.rt,. I1:,' ,f. �: •v. 1 ,-. <t, :... }. ;i'., .-r ,.: ,w, •.:-� a, :.. ... , .i, h'.f s 1 t > .;1 `'k'1Ltt: \ t• ,Y 31r ], '"i. t'.'S ctid'Ir v .+' ,,nr, .� �. f•:.. . 1'} J}. ....... f.J:fr. G.r.•. ...-......�...-�•-...... } -.." •' ' • :fl 'J.f i :;. �'}" 1 1 1.r �'1 J ��':. �li}� i�...t�i�.• .- � r1i�..«-.�.. .`��1f.•Ga�.:•.�.-L-''r{.w�.-J J.�ti.�..'w . {... ...... ...+..�}']._I� �,Y �I�y—Ir.lU(..�4 '-I" ,t I•!. +�L ` it 3 r • tjt/rltwin J ',r• ` ,� ` r +�'�'•,j-yf � . e '!1 Jvc :� 7�lt•!.i ,'i �: Iril` .T�' 'j3 :1 j( ta" `" TABLE OF CONT'.Nm� +�� ., ! rr:' s' , r WORK STATEMENT1-2 2 • AGENCY STAFF ASSISTF.NCE. . . . , sli'•' t; Jv�► tIf by , yhi�l j r 3. TItrE OF PERFORMANCE. if a 1,2 It 2 ,r • COMPENSATION 2 rJ !} r • • • . t • • • . • • • • • • • • • •'' { 1 1 it 1. FF t ,., I�jr - ' + it �I�.t',t •�hM a�J �":� 5. EXTRA WORK • 9 6 • METHOD OF PAYMENT yy `�•. �` F. •zi 7 { DISPOSITION OF • - • • < r t Cjrl i r.r• 1 aGv fir J' �t•{F tiRf �'• J :- - G 8. INDEMNIFICATION AND HOLD HARMLESS. rli f 5 I• tl , �..: 14,E +• , ,', 9. WORKERS' COMPENSATION. F S ATION. t 1 o f 10. INSURANCE. Ifr "9 N f L F, CERTIFICATES r • � "��.- '' ICA!'ES OF INSURANCE • ADDITIONAL INSURED L . 3c�ftit' ♦� r; fit. I} �' ; ENDORSEMENTS '; • c , 1jj INDEPENDENT CONTRACTOR r 13. TERMINATION OF AGREEMENT . If . . . . . , ASSIGNMENT AND SUBCONTRACTING. . If . . . . 1 15, COPYRIGHTS/PATENTS 16. AGENCY EMPLOYEES AND OFFICIALS 1 If . . . . �„, ��,A�rT1,, �,trr,;✓ . , . 17 • NCITICES . . '� • } )Yi. �;I�tk}}fit f1 Lt =` 18. • • • • • • • 1� )A iJ} rr r IMMIGRATION. `; `: ;;;1 t1�= ; jt 19. 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Jh-.. .Gr 1 x t�lk,yrJ� t �!%}�� i�}:• .�.. itltt S.iLt r A;. .1 . . f J�: <' w�l3.Ii�� ,>s�i+?' - `\I�,) ,./.: 1 t , 1:, =t! •,.. ,�1. ,\', } •., f'.,., r :1�-.} J+ l a(i�'tir:.t- -!r !1 `'� , •cn -T3• •<=t ,.�)..� . ',tt ' �• •! •i 's.. r 1.• .. ! �,✓ �',� i,:",�l.`• iy ��)'t �r„'i J: ' Y `y{ /"•'r • `^ il� l,•,,r {, ,j., r i 1 . y,r• +'~ .� �' ',,, •.1 4 ti �t.rGl �i1 �1Y� J{'„�•JJ1- ..r-' �: yr I t J 1 � {/Ij t i' r ° ,z, r,l_t, �r J� • T , I f ,•f .., \, , ri.1, .. 1, =1r .! - `1• :; l/ f.l• I I V. il, 10, , 14 ", le .,•t At' ' t7 r r 5 ` y1,` • t ..,lt ��► ►t AGREEMEBT BETWEEN Mfg RELOPEENT A09110 017 "0 t i /1 • ` `thy ! r � �'� �{, /� � •�fii ;' it �t a Tij"• rJ f, + t S j I5t»jjtN�r I 11 ! r `4ti j) a1 a t' F y t v ! • � LI 1 I. •' •el � t RWA','� k� It �r ,_► , ANCIAI'A t ; Ji day rt ., ELOPMENT -r herei-laf ter nnsylvania , cn4 ►.-' ` WHEREAS, AGENCY desires to engage the services of a financial projections consultant to conduct a market study and prepare 4.wJ , prospective financial analyses of the operations of the two ' f a hotels for the Waterfront purpose of estimating prospective Y iL 1 5� - , , ,} '� f�f7h "'t' transient occupancy taxes and property tax inc=ements attributable ;' `; .`;r� �, t:•t r to these hotels in the Redevelopment Project Area in the City of �. , •- Huntington Beach; and , t Pursuant to documentation on file in the office of the Cit:! Clerk, the provisions of HBMC Chapter 3. G3, Y:elating to of service contracts, has been procurement professional complied �a r with; and CONTR'...xOR hay: been selected to perform said services, NOW, THEREFORE, it is agreed by AGENCY and CONTRACTOR as 4 tk;T4,� a `,�,,+_,.!` { , ta, • ,�_, follows: t ,. I�Lt c ,,f�llr ��.•S r , .. ! It pit J°slyre�ft1' faTl�i/1`�'•' , !j (• Y! r rtiSt• �� `y� -'' l\ r � • { 41 =sri L, a x r,r 4t yr !1.24 1. WORK STATEHNI 1�v�tX?•�, �,� Syr �-� :1,' CONTRACTOR shall provide all services as described in the Request For Proposal and CONTRACTOR'S Proposal dated May 25, 1990, — 1 tnli 'rl 't Y 1 a '!}• ,tN- v,'>"Ii�•i*inlT�!tfn'o•Lii.T+'7'J'iSXd'.�•".xos![i:'k"�4`i/�CI�Ii"r o! i1�I4r'S+ ! �.a t i'ITwt:.'i�'(. i t 1!\atj7 $! r :r' T• y�F. tLF1.^. .eve �1,}�� s..�-1 ? ,).-: lli i't a.° It.r �.t r , e_4, �/ 1. k � � .L 1) � \• `',nf'•�J �ttJ',.�1� .1 �+ r�(r �fwtir4r t ri � .�. �% / ,•�`' , � 'T , I /� r 1•';I .F �. ,1-; �, � 1 r�-1,• i L i• C v � ,�. .Q\L 1t5ir.. t•� J , � �t , I I_ t , L' • j'}ll-� •�.t ,I i ! i ti r '.!i ' � >�,,C � Fr,r i :•i•,.ti. ,'�y,;:+5 r ! ?_G'+' `. / •�,: rl 1 I e. '' .>•.Sr 1 �,.+� r .-,rt it',,.`t. .-T•{.-�, ;. y 4 t ,C A" •t 1(•i Y4w•i -4t J Ir r I •_i.i l�T', i { i� ``UI �. •t}, ((a L L {�. . 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''.;.ta; i 1Z 1r \�,' .. , 1 ' .,. • . ��.I • NL -ML , i I, 1 i :.:r L t r1 iI i 11 = 1 ,I (i 1, ,Gt ti( .t' -11;, t1 f).r ,,V i (t r1 { 1)' Y44,? 7 1 L/1 t, '1 Y t ' 11 C'�1', ,, f" , 1 tf' ,A - v 1 ` T.{ (hereinafter collectively referred to as Exhibit "A"), which is ;, r r'1ir. f. I , 'tti) 1, , 1 I 4 �J I%l, tr. attached hereto and incorporate3 into this Agreement by this '� ?' ,.�, 1l... 4.-.,,, I4,-Fi, .,� '.;"- _.' ,Ii,".`. �" !.�. , (..s..:I"%, "". :7., IL-.'l.� I�,.1I.. I ,'�.;� - , ,-I;I� ."iI,, .1�4..1,', Iv,p,_� ;.'L-,"� ,,'!s " -�, r �l I {t l . ";! " .` t' " '� reforencer Said services shall sometimes hereinazter by referred _ ti ' 'Q 1 r41�1 ,%:, - , ff z - , 77. -I . ,-. I , _.I,'... .I,.F ,I, )., ,,,.f i . !'•: ., -t to as "PROJECT. " of ' '..i�r �r ,tibl�` �'� f ei CONTRACTOR harvby 9e2xignntes Richard N. Ki��per, who shad .,;ti �, �'dl tom' (i' l�`'' ,�, kV, o reprdsent it and bs its sole contact and agent in all � J t f�J 1L t . q ,1 ` '! �I' ! consultatYons with AGENCY during the performance of this Agreement. f�+ ,f,� ';, �.i''FJ."1."1,W1 .. . I, , Xf , I <, i 2. A1rT'�l`I� �t���F ASSISTANCE .. , -; Pq'ii � i-r �, .` AGENCY shall assign a staff coordinator to work directlyr '''` z` 1`' a c1, e :., } 4 yy ,. �I:, . ,_.,� ",,) 1 f I � !: , , I1I .� -. I ., ., �I �.I, - � ,.II -i. vT '" ; [�}rr �� ' };1 with CONTRACTOR in the performance of this Agreement. )` " 'tf 3J. it ' r . ��' �/ t��7v/;0 / TC ..% -� .,L,,I ," �_,.I 1I . ; 'I,1 ,",,,!,--':-, -It-IE, ,�I, ...,.. . !.-I .1".j .-,1, �..I,,;I A _.:,",...- �..1,:."�,-a � ,_..01. , �,. I , �, �'��."-,-'" 1,.,. ,.t .,.. _ I. " 1:1 .-. �� : /"^` 3 . TIME OF pERFQR NC�,1`� ;^:� .'' r ,. J �',; I Time is nE the essence of this A ree.�ent. �';`�;1_ / `' '/. ',t , rt 1 .. �' g The services r' ,,; fb.: �. l i, r l j.l f ;1T1 '! r 1 iA, ' n ,, 1 .. ; ,,, rrll�L� 1j ," , ; of the CONTRACTOR are to commence as soon as a i��ll ,1' ."ti Vji tl,l, p'tacticable after the F i f . r •t + Ir'I ", .�.,#" I- . ;i, "t4.iI0.,..,,,�1.' ,,"� �I"��, ..�,,-1",.-.1 t I �Ca',;_avl`G,;=r 'f . execution of this Agreement and all tasks specified in Exhibit "A" ��j r� I!--i-1�! 1'.1 , �., ,1;:. "I .,�..;;�,,�;�(�. �, �,1"i' y�'� .4, II I-..I4 , I , .I, 1 �I1I".',. . , ,,,1, .,' � ,.,I,r? ,, I7 .. 1,I�tt. ..,;;" 1 1i',',,,, - ,1P,1.11i 4 I�.1"- � ,-I1..I �. �II ;,IO"L., .,I;,I., ,�."'"-,I..%,I'I_e , "" I. )W:. II,.1:, . ._-,' I ""` ,,,I II_ *�-;�.,��,.:1-;-�1 1'. �."�F.11 , ,,.. ...;" -_,1�,-1-II 1I,I :,.�I_jI,,�I',IC,110 : ,',.,. I ..I _ J 1 _ / Si ,N 11y,I f�i' -i, ,, * , 'I ,- "J-,.; .�c ,,.�,,. ��t ." �. - ,.t,.. 1 ,��- �,.�'". V_�"f;.9 ��,"-" :,1_ ,1�"! .?-,01II '.—,I,�O I - . ��,"_.-, .I!-i ,-,;,, 'r,i, "� i �-_, .,,—,O� -.1",t� -1 1, , "I tl.. 4','I , .., .,R/...,.t.�I,_"� . ''"_*i�,'- '1, ":,,.-.``1-IIi1. -",*. --;.�-j ,Aj�_1,,,. , i, ve".:,I, ,-.,q.41. ,.. ty 'ii` ,ifs 2 ' '' shall be completed as soon as possible after tre data of this , '`,`i:ji . � 1,1I 1� .1,. ..-77�, �;r� .,r..I . -..1.."'�I,.�.." -;I,I"� -: I1 ,. i`I ,1�. ��,r.,, . . I4,.. 1��"'-.,I ,I* I -` 1,, . I-�.,, .7�,, .�� I, j.,! ' ' r ` i5 11 j , jv, r •r ;; `,'" f Agreement. This schedule may be amended to benefit the PRUJEC�' if n�j"1 fal�;'n ��;;1 a I, `IN,`,4 . ,�11,1-4��,t_ ; ,. ��.,Ir�-11?� ,. .1;1,'v, {� -� %+ };tsr Ttl , ,,{ t mutually agreed by the CITY and CONTRACTOR. Rt r{dt r t iF I! ••',t_ eG -t { ),t7C1 V r• 4 • r �,, � �i txY, . "t. �, f ' ' COM. EN5ATION , ,'. . 1i . } i'1 1y "! t ih ��`. , r '.; I ". — , r; \/ b•.tSl. •r S'I'7 +.. `tint x'! +`1 � 41 ' ? t ' S ';� II .; *, Jr 'IS ' . ira';� , In consideration of the erfnrmance of the services vptp !�'�P *ti'{t ,r",fir t.. 1` 4jf f T11l Xt 7[4,' t `' 11 / rri S t !: ltif. -G I . ;, , , 1,w:, r{, ; t F1; tjJ,+1 described in Section ], above, AGENCY aryreds to ,tt't� %�•"' f `=t1` ' t41r T • 71 f }Y '' Il_ 1 , ;�Yf 111 r 1^ `J Pay COt'TRA roR a tt ,i"V IfYii;`�t�.r)Pt j�; �[ y+ II i }rr xjtL!• -'I i t tIJ ,CI Lee not 11 j: i rf ., .I,� y} t.`ti ', :'jt i {t r f{, , L �1! ,I to exceed Forty -One Thousand ($41, 000) Dol] ars, plus all 4� '{ 11�`i. �.`t t� HiJ - t J ".� ' j . . ."I.�—�I.�II,-."L.,, ''l ;;.,,I. F4"..`:" t"'", ,1I ,,,,;4 -" .�,�1.',_,!.,tI-..A":-.,�..,T,1',.4 i.. ,;-I.,�, :,.:I--..I.I, � - .I-�l.%-.%)",. � ,,I.`.,I I�1,��k.�:-�, �%q].,..,-., �- -% ;'II.',,'4 , .-I, -I1.,:",�"-"� ,l11I,I� �"-" ,- -.1 ,t�I,-."��,,..);�;.." . t�� .I .",.%:-" '-z ,., �"�.�,I.,�i L- .-*� -,",-N...,� 1, --,'. - _. , .,-,,4,;1, ",I," �, " ., ,,_I. ,..-, ..,V..-I ,",., '-.,!,�,,C.e�, ;,-- , f..,� i;.�-�Z1"',, ,.,"11..,, -,.:. .,,�.1..-7� 1-,2!1 'iI �I "'l- ,;.lJ�v-_;. ,eiI, , ,..- .I,,.,�',-1.-:.�, ,,j_1�" I,I1 .1 .,-,I,;II �1.`..- 7 '�;)I ` tsrr.•.'�r t `, ", q,: It.: i{ Y,.�rt l�` ..., {"�'~}4;4p,„ ,%�.f , ,'; , expenses ref leated in Exhibit "A" . A pari.? on of the' $41, 000 fee M` ; `" I`aJirt`�fi�J % ` ` ! t ,1 I?;N..: .",."1I ..,.-,�"I'._:-.1. ._,-. " 1,�,!_1, � '� �',1I,..� ,,"U; I I,�, .I1-.I.,.I'. I",-:, I ,..If,1;, !1 , "'�-"",,:".". :.: r, ,,.* L. -I_.,�.. ,'.Vt.i:� ,,,�_. r-�,,1.I-,I, ,." (." I -,.'I, .'.-,' I1.,�!,.'-;,,."II' *I' I -,_'...4'v.,-I" , :-I ,.;,I,:,.e.,4�T,."'1,,'..f,11',,,. _A�',1A".'l,I�'.!- ,;kI,_�!�i ,'-l,.",-.. . � : �-.1 .I,",� �-.��1-jpV,,i,';.l , m,1.'I_. - . I, ' g i � ' A, '' 10, hereunder, in the form of a retainer a£ $10 000 ha ? i 4� °° rJ', . ►,•. Y 1 s alread been '1'""`^`�i�.�.�xr r�i I,. {�..rJ itt,i 4,-!,,,.. ,"� . -..-,.. ",1--�.f.-IV� �". ,,I.'.I,1 .,',..,,I'r-0 1,_,.._.1 ---.�-,,,.!, . ""1. !�,-1Ir'"'1.. , _�''.I,�. I.,,.,1'�- .q. t'I.I ,'. :,. �".-.,- ,.,..-.'��, :..--`I f '- . ,:'�1-I6., ,.. . .-�.,,-,-... ,1t"I � .;.,.T� .- .-,j,I�.,. , �. I-.—".-1,.,.,,,;.'1'`",,, I � .-._I �, ,,,I"� .; ,"�-�.:j -,. ',.',I.1"I,, �--,. 1`'i-, "'elf . 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L'- t _ y .r 1 . . .,T 7 -7 L 4.n r :4, X1.1 I ".- i4l J:. it A 41 V 5. additional services not In the event ACENCY [squires included in Exhibit "A," or changes in the scopeof services At described in Exhibit CONTRACTOR will undertake such work after receiving writtenauthorization from AGENCY. Additional Al. _ compensation for such extra work nhall be allowed only if the priorwritten approval of AGENCY W obtained by amendment hereto. 6. M=L—QF—PAXffM A CONTRACTOR shall be entitled to pa%-I'ments t1ward the fixed fee set forth in Section 4 herein in accordance with Exllibit As* B. Delivery of work product: A copy of every technical "'n ✓ memo and report prepared by CONTRACTOR shall be submitted to the :n AGENCY to demonstrate progress toward coTnpletion of tasks. In the event AGENCY rejects or has comments on isny such product, AGENCY 4 ...... shall identify specific requirements for satisfactory completion. Any such product which has not been formally accepted or rejected W by AGENCY shellIV be deemed accepted. r J to the AGENCY an invoice C. The CONTRACTOR shall submit t due. Such invoice shall: for each progress payment A'. 4 'Ilk Reference this Agreement; services performed; 'y� ibe the 2) Descr 241 3) Show the total amount of the payment due; 4) Include a certification by a principal member V4 the work has been of the CONTRACTOR'S firm that 7, ,V V i� fYl perfor med in accordance with the provisions of A"I" r 'V this Agreement; and Qt 3 :4V 0, illy -V-`1,4 U. ell$ Rri .'L r :.r :'{'.:•. V i'll- r ,I, i jfA I IJ 1q, 14 1 J, t' •A N ,' r{+� 1',1 i,, .r! ,��I r t^ f� l• l!', t, `s; 1„ J-:7� .1: '.47 t. tti7 •r: t`T y(ti tj f{7:r:��i I•Nlciy�-� T*.'� ly. A7, 7 '0 A 21, Nrt T na A4 lit t A I1 zt: K 7 4 N 6 V I I I ly I, f! • S fj 4. o V Ai im aN 5) For all payments include an estimate of the percentage of work completed. Upon submission of any such invoice, if AGENCY is satisfied that CONTRACTOR is making satisfactory progress toward completion of tasks in accordance with this Agreement, AGENCY P Jr', V.; shall promptly approve the invoice, in which event payment shall be made within thirf.y (30) days' of receipt of the invoico by z ?IA AGENCY. Such approval shall not be unreasonably withheld. ':*f the AGENCY does not approve an invoice, AGENCY shall. notify CONTRACTOR in writing of the reasons for non -approval, within seven (7) calendar dais Of receipt of the invoice, and the schedule of performance set Earth in Exhibit "AN shall be suspended until the parties agree that past performance by CONTRACTOR is in, or has been brought into compliance, or until this Agreement is I terminated pursuant to Sechion 12 hereof. ro I 7C. r. Any billings for extra work or additional services auIthorized' by the AGENCY shall be invoiced separately to the AGENCY. Such invoice shall contain all of the information "I "--4iL required under paragraph 6C, and in addition shall list the hours 6A.1-,.t1,1-• V I, �j i fib expended and hourly rate charged for such time. Such invoices_ A shall be approved by AGENCY if the work performed is in accordance 7,,, 7,r Al I' OL with the extra work or additional services requested, and if AGENCY is satisfied that the statement of hours worked and costs ItAt -1 incurred is accurate. Such approval shall not be unreasonably N, I Tj withheld. Aiiy dispute between the parties concerning payment of -such an invoice shall be treated as separate and apart front the A, ongoing performance of the remainder of this Agreement. 4 IV 11 I J., .1 S.� ;, d,/l,__ _. ':t)I r- `."�,. .,,, '.,'. -.il ��' r .. t' �Y li• .,✓ tlt" r. i ll .i �Y�� �H C:-`�J, V1 qX .V 0, S"", IT, "C' 41, 101, t I I I — a it. "'A 6 ILI I '4 ZPc. IV4 rt r,� i�:'�i� t l Y: ,�f J: r�.r j' Ir• \I a 1-. / �, 1? � f, .I / ,lj. ',' ,'��+�� ta.': i WVltr, t• J I% je� 4 • 'rj, W" i Al I A i A j si It j jI 7 If qo; k • FT} . I A 11 tw4ftwo.10" 71, INN >A A q - u'Pse. 7. 1 S 2 0 5 1 T I D n —02 R02 cc 1, 1 ta Ms rFf rh CONTRACTOR agrees that all mate.. prepa ereunder red h shall be turned over to AGENCY upon termination of this Agreement j". or upor'PROJECT completionj whichever shall occur first. n the ': i ,�..;• ;, 4's 1 event this Agreement is terminated, said may used by 'w '171" AGENCY in the completion of PROJECT or as it otherwise sees fit the AGENCY upon payment of Title to said materials shall pans to fees determined to be earned by CONTRACTOR to the poiiit of VI termination or completion, of the PROJECT. whichever is applicable. CONTRACTOR shall be entitled to reta 4 e^% $a: nm data prepared hereut-dder. 7. 'fig .44, 't fled rc(y ods. %4L Cre. %j 4L C y Ir LIP C SM wr 14 ;1 8. INVEMNIFIr, I -AE12 HQL]2 MKin, LIN It CONTRACTOR hereby- agrees to indemnify and hold and save At- 4 r harmless AGENCY, its officers and empinyee3 from any,and all A. halt xf°�� }rt r'; ,�''��It including any claim o4 liability and any and all losses liability, or costs arising out of the neg)igent performance of this fwl 11 N I ``� _` `i, _ 41 0A A 'N.1 I.- 4w he reunder A agreement by CONTRACTOR, its officers or employees. 9. WORKERS'QMPENSATIbN ' ;, �`t ,it s, yt >*�, J' ,'�jf rij CONTRACTOR shall comply with all of the pro%,risions of the Workers' Compensaticr, Insurance and S3fety Acts of the State of A California, the appli,:able provisions of Division 4 and 5 of the CaliEornin *:labor Code and all amendments thereto; and all similar i, 1!?,' Oil A�ht tiW state or federal acts or laws applicable: and shall indemnify, �iiiA j, A defend and hold harmless,AGENC"I from ar6 against ell claims, 7. demands,, p'ayments, suits, actions, proceediligs and judgments of Y It 41, every nature and description, including attorneys fees. and costs presented, brought or recovered against AGENCY, for or on account 5 yrJf{{714 A '0 ....... 7 1) IV r. Pa 6 n, tq A' �7 f., -;1 14 Ai� A. jr Aoe, A A YO Alt" , A , - - " I- �, , , .1, 1'441A;t .7J ILZ 4 Q 4, 71 '1 1,; ? .;; , - , I *4 �) - r •r ,f .• ,, ... k' ,' ' _ it (i L,' t •'�.��. 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"""+f Frr•� h , r `"/_"� .)(:1:' R� ) t5)ia ItTt;INS h .% , t ,. ll =`,1.1 ilr- I. k,'t •1 t 'r '.l•i 4 i Y !�1r �•' :�i+� Itl�`'i`���!'t5+ t! i,�J,�.: i� '`+, is rr tt ^ir•r'�� t} ;� tJ t"i': " �� + 7 r{j. �!':`trltk �rfi. '� �ft f 1 f•• l} 14 j 1' t,f '' r •, ,tk ,1 1, � Jt ,.k s rr ! it i �, � ' I "(�' ��, �:. t , yt x r , � ' s 1 4 `y+ �� 'r ,..:,-, t :.' t'.1' 4.: � c'/'r (.r 'f� '/� ) 1 Ir. .t' 'l 1 :l �f�i. •.Y! fi `�; tot{},:, i{' '4 'r�'! .. '• 4,`.•.t �. f.t �„)e), • 1 ` ! 1 ,: i •., 11 .. •1.� 4 ,t •, '-. ,!!,•... f t.�,l tt �yY t �57 � :1 (1 M� t� "''- rslr:.`il : _`,.• r`_ w -� I t 7 'l,' Z• ',t , ,t.' 1 = .r.r• ,' t, ,,r' tt f 1':;,.;1 fxk :.. t•.il., ...:t.- , .- „•� .;. •trl.' ...,:. �,.: T � - ttv � .,• atT't,.- ,: ,.,i � � t i6 l.•,,... J ..1 f):..., . 3 + ti_ i• -ram. 5�.- �tr rl Ta ;, ;; r++• ,.., .. .,•• :�,a1 C Y .. rA ..., t ,...� .,. •.v. •,. ""'�,,. ♦ ,�_ ,l. - ... ..;tx - , .� r s, M,t.. C '?!.. r• , «7. -}'. . Tr. ~ i ....�',[y ......i.:,-nit_:k:a•� `i 1, �-,t.i;;, ••�,; rt�4,(w.r',f1A�.."ltl,��i<...�ra4t.,,r..1.,_uti..t.,.....•, .. .�.._..%a.. r. , flii} r 1j ,Y t , ;1r �{ r rf ,•j /�iratC.i, of any liability under any of said acts which may be incurred by reason of any work to be performed by CONTRACTOR under this Agreement. CONTRACTOR shall obtair. and furnish evidence to AGENCY of 60F+ 1 : �t maintenance of statutory workers compensation insurance and Ott' `rY tKt t!_fl�[ employers' likability in an amount of not less than $100,000 bodily injury by accident, each occurrence, $3.00,000 bodily injury by r�{4s'x�~�+��r[� f' r tt J [ 4,1 4tr�AJ .�r/ t,ti+ rr * 'SII-illI�~.•I.Ylr,l t r� (tl� K711�� 'S +,. r �) lr disease, each employee, and $250,OCO bodily injury by disease, + policy limit.10 to n t«, in addition to the workers' comnerisation insurance and CONTRACTOR'S ctwenant to indemnify AGENCY, CONTRACTOR shall obtain rc., an furnish to T,GENCY the following insurance policies covering LLam[ ' fi''the PROJECT:I too '���• t ��� t •1� Sgllea 1 Liability-Insurance.f.: A policy of C9neral public liability insurance, including ,11 motor vehicle coverage. Said policy shall indemnify CONTRACTOR, [ „ I .,, t �,• �, , its officers, agents and Employees, while acting within the scope Elrt` r! G` irk ? of their duties, against any and all claims of arising out of or 4 ,'.rvt' tl r �Itr �r1 r}( (: _ i9 ti� •S: y ' r }'•: '_ _ in connection witli the PROJECT and shall, ,1 7 a.k ,k r t provide coverage in not 47 less than the following : amount. combined single limit bodily lt4 '�;['' fa+�f rt}r!lG�sx�r f f , injury and property damage, including products/completed t operations liability -and blanket contractual liability; of •� ���,, . lx �� 1��t 1 r =' i;y'`�'`i ', "' ' $11000,000 per occurrence. If' covers form g a is provided under a f t1t�F� {[it! °ail which includes a designated ,general aggregate l;,snit, the aggregate }� ;kit ,i r ,� limit must be no less than $1, OOO, J00. Said policy shall flame ti', k,vi jj / :i�.rl� 4f t< lajr fit' rL+t�4tn:" AGENCY, its officers, and employers as Additional Insureds, ands}}k lE 4 � '}��'',..,y11�' shall specifically provide that any other insurance Miqjr adz„!r?,L-stvrMsicwr.aw...L�'t++.tn..+R..j s 1 '/ ♦ ...}.1; ♦ r;r"" I " .,,r .. ` i;., Lr r.. (� r C. rlr. + L 1 , lA + j'�l { v; 46' V ". / {l'> �..t 1� '�.•� t ^.-:i ' ; M =. j J ,%lit , L ; !1 1 t,�, ,L , rz �,..r a,,.r t, + •. rt L rr !, ;ij11 ,yS, t' Jr •, t !'•.�.�' . 4 . ' 1y4 . ii ' l • '. ,N .I,,t t 1r! J,�t is Ai�t fd ... ,t#},l.%��•, iyf �l,Y ,r •=, y., 1'i r y a'• f �� ,• .�.,', 6' ♦. f.' , �F•.� •:}fY. ;101 r b+t.}r.+ •�1='i •{' , (., , , tr;,� q ll, �•)V5, t , F 414. ..r 1].. , , ii- 1 ,•'1 ., , � t,'1}1 Y� ' !',; ,, =; ! . ;�• L ti,�' r liV'r, �.i('l {r%• " {j. ',) •4i1 ,s !''i • if )t [ iaY,. .Ij •i '1'�.,,, ,t7.•s4,.,�4 tri..'{)S[' r' •r t."•T(i`.�•- r• r 1 r ,¢,♦ ,, 11 5.tti',. iJ rl' [j` 'f. ly ] I �{ .�• 'f:. �. r ! t4a �j . l ,,. .I1 ' '. 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"YS I' � "' "Ta.-�11•'. ,Y►i, r '•. . r' t r'. ., it •i�t' {Y +� /2: y •�? i k. y .,.. , ., = 11 YC ( j i! r ,*a ! ('S it 4!5. L} .. 1 t V1 t7 'J -. :C?w t•. ,.� . fl ,-1, - (; t, �,•, Cr1i' •�'tr t - }} `c fj'.r.^'!"ij ,,�.. �, •., , ';r1, '1 ''' :1 � •'1 Yjl .. S'tl.. ,I� .� !]7�rt•r a'� v'' ,,t„ ,:,_'v- !:1i' �. .3" ': t: 'fix. •., % t �; !;t '1 r .1 , ).,, ,.� - .., '" ".•['i.. •r, •, ;1• 15 tr.., ,., -...., 7.,Y .. - 3 •��� !{ ,4 i�,�t,,r t'�t, 1 ,1. {'j ,1 ,., i 1 •i .t, J} ? ,e .r`�,.rs= �i��' t?""Y•Trr i 1 y ! .. .j 9 t ..(' .-'' :' •II r, -1"; h1'-.,ti,s, p r.{ ,t 0+ Ella •5: .... .. , ,.i, _..: ., t. . r) ,.1 �7 . ., r _ • ..e el lt• a .. r� il.:W.�..r.'I.,tw1.:i «�iF.L{'�.•: ,r\i 1� ar,f . t•:- !)S1�A�, .;:1`S�r... 3.�.�r+SJALw.ro.«% ,5 , A;,., .+ ti"�.- -- i,•;r-; .� � �•_:. -:! t, � f"f�iti, �ilw;,t�.,�",..: , .. t..x.��:'i`w:tr�:. ...r':. Y � �/� C(, ,;�.T .t �,. v ..�..;r�.•f•+(:�i.+7 i• .3•L./t., iS• �,?�S'4M...- '1 ri, 1fE ,.� ,�_ �� ,'•�T� 7( f, tr, u 9 r f ,7Ri ti .fir � r�1,�,0 ��{5 ,,-- i 7 �154 • -�'}'�� t' { cZ V y i' ✓C� ;overage which ma pa applicable to tho PROJECT t�hall be deemed k y 1 excess coverage and that CONTRACTOR'S insurance shall be primary. , r G t _T 1 • r,fl� i, ,. H. Profession Liability IriSu,3'ancv. '` '•s`t,s� t"� 1 T 1{� CONTRACTOR rrhall acquire a professional liability 1' Z " f `t ? 5 i r; tk v! tt'�a Tt insurance policy co��cxing the work performed by it hereunder. t ., jt1 aid policy shall provide coverage for CONTRACTOR'S professional liability in an amount not less than $500, 000 per claim. A claims i=f`,� mane policy shall be acceptable. rr1�y Av O�T8Air�'' AQ F_S?I4l�Ia N Elr._ � FI�E.r1T j�;�S/�� F's prior to commencing performance of the work her©under, }�;(, ",, ��` ;tt,.��•`.q CONTRACTOR shall furnish to AGENCY cert3Cieates of insurance r: �,' rr;f. 1�j.'`i1, t*Ft subject to appro7al of the City Attorney evidencing the foregoing s ;I • Said st ' � , f. insurance coverages as required b} Secc:ioas 9 and 10 herein; certificates shall provide the name and policy number of each �r�'! Dottier and policy, and shall state that she policy is cur: ently}�Yw• 3f VI: 1f�Z 't T ',?trif,�Y r� , rr♦ h *, i in .orce rand shall promise to provide that such policies wi]1 not ?- 1w be cancelled or modified without thirty (30) days prim written }; 4 . S ? r y a notice to AGENCY. CONTRACTOR shall maintainthe foregoing insurance coverages in force until the worlr under this Agreement } tis'x,T�L1t! r1•y% 7�' �Y -`,';,'tit ! ',-.i rrtS ,,; , ' i t CA is fully completed and accepted by AGENCY, u� The requirement for carrying the foregoing insurance l S tyiylt j l•'ij',yllirr` {�`'�u .,� i\f�'1 �'. L(�p4k` ti '. 4, V� 'f 4t1 t 14 i �F' J t, 1Y`I cr �,i'•Fa �� .;:�r� LL; «X `f t, - coverages shall not derogate from the provisions faL indemnification of AGENCY By CONTRACTOR unrier Section a of .this; ��r Alt , ij}• "� ;•. � +y � t +���f' 'r��Y ' S �''�'�•t `'tt?!` , �� +5 .4 Agreement. AGENCY or its representative shall at all times have of all said policies of the right to demand the original or a copy °s rC ►�` CONTRACTOR shall pay, in a prompt and Limely manner, �.T insurance. S i fr t 45 the premiums on All insurance he required. q F r� A '1 ����� �•. ��y ,y irk �;'. , ''ltt4.T3:' rtl=,f1.,rl tC1tIL y • ..'.(i �.waw.w+wwrr�•w�!�^T`r� ..�'fP• ti C " i i �a�r�`~ ` •, , � ;... 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I�SrtF:1r�+ �. j� ,.`j., 't . r M t. , �✓ r i ,f + , ,:. 5 ' [ f , f ' r :+:r 1 , t j ,` J �` t r'� J. ,frjc 'ti { t i f J , � ,!'. '•+Sr Y37 �_ •� r:1��7:1 'r'•��l/ !•rs � �'• ,�! rife: !)�• {, +• •+t ' i.. ° ' 11 '. t, �,: ,r:% y�t� '+. ,Z/ '.,L�.,f_4�+( •1±. r r 4:•' ��%,f { :e!���r��jZr�i�''rr.� ;k t�(�, -;J � ',{ 'tt1. !r},\'� rf . ( :,.t'. {' !•; / ti ,''� �it�•i,/ rS; ).R•'�,i`� )�•1(,., i� ,� i 't •7 ��% 1 ..3'7 �ti'•:^ ,,�y�+:pi• t• !• Ac +} .i.�ii l;" 2 It, i i 1ryi , ! �• 't = � i,`rT 1 ` 1 1����,jZ,,,,r S? -y,l 2 �. >{}•' +� ,r. , �� ` " Ik „s �.'fi ltt,tr,j ;.= r`l 'Wifj ..., /(.,r (l f 1 r' �,:{ 1 •f�. .r,� , t .` , 1 b.t .3 h ` +~ _ •` ',1,t } �t :t: '.Yy' ' ':fit. ' + j2t .•`Z��,;/�4 .i-dt��5 �.i « t "� Snt'S-l'�S'1tJ-1�� i:'t �''i 11S 1•++tyr j-.�. 1i - r :r i' '., ('.. .. t.. , �.1• :, -1 I MW FLA $4 17 ,m4 44�; tl r, ,.._R .. +:(•.. J'.. ' 'aY:' '. i . - ..1... fi .. 7.1. ,+ ' e. / � r " Cam. Jt ��'.. •t}fir ,,, +i;!:{ _, r.., + � IS tv • 7i f -'4 3" 4tt A. V to A separate Copy of of rONTRACTORtS insurance policies, eac, th,� additiolljll Insured endorsement to t. r , ,IF�c7�' '. 1,10EXICY, I Officers and employees )Aaming the •As Additional Insureds shall be provided to per--,Q the AGEUC`Z Attorney for aPP,oval prior to ally Payhereunder. im z 12. IN x'AxNTf)j�Tr«+ 7 4 --�Q$ tr r 5 7' L r Cr !. fj. :� r`r , ej CONTRACTOR is, and shall be, actin g at all times in tho Performance of this Agreament an independent contractor. I In CONTRACTOR shall Secure at its expense, and be responsible f r, l t yen :cis `` f '� t and all I-'jyments of all taxc.s, sc)cial Security, state disability Insurance compensation, Unemployment cOmPensation and other payroll deductions for CONTRACTOR and its Officers agents and employees and all blisiness Sas, jr liCon.if any, in connection with � the services to be performed hereunder. 13. 6 erformed In a good rewired hereunder shall be p All work req and Workmanlike manner. AGENCY j wzwinave CONTRAC#r0R# services hereunder at any tIM0 with or without cause, and whether or not p.ROjECj- i's fully Complete. Any termination ion of this -iA Agreement by AGENCY shall 4 It be rijarve in writing thro ugh the ArEI;Cy Engineer, notice OE which shall be delivered to CONTRACTOR provided in Section 16 herein. 14. &UraQNMZ This Agreement is a persong., service contract andthePrvvory work hereunder shall. not be del,.�ga ted by CONTpACeMR to -her person or any entity without the consent of AGENCY. is. I A.1 7 4. CONTRACTOR shall not apply without attor'leY16 consent for V; MFAV� ,j17 ly . ijc �4 #,I,- A 'Cii "U" Ik 43 �4 0, IJ, V t A r-.-...,..�.-.��.__,� --- r r �.. -.,.__ — -- - - - - - - t 1 �+ } a I 1* ! ar li II c „ i• , ` ,IY `i,, , 4i , N. i Ii , .. �: .. r�� %,` �,I t , nit I,} :1, , !. r ) 'r ' drat, "t i .. ,,, . Ii . i 0,L 1 ? ? f, I. p • , ., . rI--�.,-��. ;1-� .�.4�I . ,I- - .l ,,,I,'..,I- �A,.I. ,;, .I,I , i. I; II I.-' ,.,", ,��" e,.�.I .]-,,,1, -I_.- 11 II ( - Ijt 'III ,l.1 -, „ I l,.,a '+ ., ! 1) i tl , I'.✓ 1 i v� 4 ;i1�r.. is {( r ,; i. .ij I - S.`' . J 1 ` ..r -,.+.'•I , \i+r .S , It i1 It1 i`- I '' : / t I '� ly �.♦y ,fit } i1' t i , Slt;t t. t , .1 1 , 1.:7. it .: h \\•ib -`' II ,.,i+.. 'rr...r.._'.,... ,..)1ir.., .,. S:II _ 'a:� . .-.., . .il!: , , ;'i.i .J'..! Y�.+,.L.)- '.,ii::.<+�(il!'..l.'9tZk .� •!b , !� ,.� !c , i,. I) ;.'-' "ram_ �(5 a �• ); A , 1�%.-•} ;l .) i`i) r t1. „ t,k1 r I `.r 1 t r. ti. 1 t;" i) . ? ;i 1 is ,j ,Ito-.l•:, .. " I l :7' t1Yt l'I► y �� ry R - . �..1 Ft,) 4: i a at©nt nr �o ;`I � i=.l,, �, + t� p pyright on any itam or material produ_od as a result r , + ' ," ' � .11• � 1 r , ,`;, ,, 1:�1 of this Agreement. -�, � ,� ), C: !�� nr)c " r t , t ,;i , 4' ' `'' � •1 1.6 . AGENCY_ h'LPM r , I ffl? Qr TCT.AIu� �, r,i I [ ft!:, 1} L 11 t ,i, -7 ., ", CONTRACTOR sYja 11 ©mploy no AGENCY' official nor any �' ;• 'I I T I r" �� regular. AGENCY employee in the work perfcrmc�d pursuant to this r y'�' l f I It . {. j lC !1[ t` ) % )''I �. t Agreea:int. No officer or employee of AGENCY shall have any �f '' financial interest in this Agroemc�nt in violation of,�,�_ i c l'"� , r r ., 14I : '` Government Co�q Sections i& et sect r ° ,� _ , `.'i- ' t ;} ' �- 11 I (a 17 s�, ) Y,.I ' . r ,41y } / 1 i�'� Any notices or special instructions required to be given l t'' " °''_ is li 1 .4i ti .(,i nI i1t ..A,, I .'11 , 1. ,1` in writ ng under this Nyreement shall be given aithor by personal 5{ r-") I." ` de7.iver}+ to CONPRACTUR'S agent (as desig*�atQd in Section l ,` ` I :1 [ a}! +'c '' 1. ,. _ hereinahove) or to AGENCY'S Chairman, as the situation shall ) 1'• `+ -i I �• i ) -i i i t ;) r . Irr ,f,'Ifl , 1- t: �, , . yiQl _ (, a t. '/,/f 1 I warrt.nt, or by enc_osing the eamo in a .,�:aled ; . )� 4j4 . (, ,� + envelope, postagr3 Prepaid, and depasiting the same in thr3 United "I';�, j=[ '?`l' ,-t i .4', ) 1 " , f ,,.. t ,5» a ? i , rt`. o++ States siral Services, addressed as follaws: T, i, T f+ $; .r TU CGNTRACTO& . `)Y 'i t 4 n i st ` a Mr. T~tichael Ub,��cuacla LAVENTHOL & HORWATH �;; f, dr a'` Y°� 0 Chairman 65b Town Center Drive �,, r % i "I, I 1 ,,1;ti . .Wf; :1 t, 1 �,�,4 �` " 2 Redevelop:nsnt Agency quite 1100 ;� 1' t' '; . "', ;`� "', , 'i1 City of Huntington aeach Costa Mesa, CA 92626 ,► .' )r,; , ;�7 t \ I I 1 1k 1i'S�" Y!, ,,: ,;E *, t r'[ ,. 4 2000 Main Street '- )I V,��, ` Huntington Beach, CA 9?.64a ,rt� .,[J, t ;, , ), ;, ! , . J, I. 1 ;J,, I, la . I� LI�Bt��SQli 4�: , ,p 1 3 L F J. iy y , ir1 'l5 1;, ; ! y Atii �Jr' A."_'. -,: r,/ .(t;l L :`i CONTRACTOR shall be responsibl-a for full compliance with + ,r II, 1'4 I� r '') ;' i ' ( ,` the immigration. and naturalization laws of the United States and ` ' 'L" ' 1;+) )`4 t PLx,1ik}}• '1 nit if'f,." 'tfi, fl l.`5 I. ), r` `qua tl,',- Awt r sha11, xn particular, comply with the provisions of 8 U.S.C. § ) } %)"_ );; ?� L,.., i,i 1 1, ry � } ill I )5 " I4 ,I 1 P`, J,"r,,` , , °,, i 1S ) 1324a regcrding employment veriFic3tion. F'{ " ;, ,# `?.,Y•4"' 'r' I ''1 J4 ) i rN 'r, C; ./ )} I!}t. ,i.t f lg),.l i}(I) /t :! 1f t it:ly iZ t�l',1 5 ✓;`` ) I",I i r't !; ,l, . 1 ` *, i t J, r i,� Y [ t; t 7� r`) , t; t + t l ' . ,.-I rl �t 431['i' }y15, :'i '� 1 i )L ' ' , fi �j. t. iw} t .its , i N:';tf;r.rf. arc -•- ` ' , , ' ,_ --• sti•rnn -."V_ .��--ti.:c».t> .,,-.. c-7,acr-rr ,; •v:1•:.v ...1,, ' •TI:Ir..t.,xv,[ nl ,:r•.-IMP`PI"41Mra*>ANT•...-*wtlt rh►- , -V �� + Y iY 1., 3.,a'-x t. , ;a l' , ,} , '• 1• t r/yY trJ"r•4y'y+� ��v,4 t (, i�.L", � . . i •,t b W A.f';ti rirf•' +'E .5 i, F, = I r. .I,F,. + `" pp :A�. v',,'.' 37.i..`-Y.;.• } ,, i, ..l,i + t • ? a ;•!,. I, f 1 , y, ,r f t.'�.i:t - ":ilE;1! 1 fl it•:A 'i ::. er •f{: . e- I' 'P}+ [i `) ,. 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Ff ,w)i�pNi l/r t. r�j;,,„ •�j •,t `" 41:`:e1' 9 ' d'It ,. ' v !' � ,I �' r j: "l f y�.ir.. +- 'I : i _,_ F ,,. if , I. 1,, i ! ttt,, ce•I;/( { t, , f I>t ;,t ?. k: , -,JT,.' FI .a;. ). l i. r �+,• ,� r (I�ti t ,, ,: I : t )' � Y .t �,#y `` q• f rJ. 74 { r IJ -�-: % f. F i 'i t .�' + i 4" S i x.. .. -R a! ,' y "I l `` j ;. ''''' I ,+�,wi -11,7• Si 'i i r 1 If: ..i lLL' !, 'i ,. ." I f l t:r ,, / .t`t' A" , r.:. .. ••' lr-..:!,,. 1. f_,. -'. .,I- ! i . `i ''� '.,,; ,,t. ',k, i .1?, 1) .),[I t, e'j- Jl.r. '.�'•' ) "s%,!,y. 'N. +-7-,%-F" :1, i i } I. )3t > , J 1, r sy�t ' t :'i,�•'`Kt �,\t Ct '1. ,S yat•7 ',l ,' i fY 1'' •) 1, v 7, Al, 1: t ( .r1 `:• ':,,.' •1. V- ,�;{,`' L., t1 )1. ,f, Y ?.. r IY jj r f �, f tr .'Z ,_. ! C r1..+. �.., , .i' f tl I ��'' ^-1: ,��'_ t S�' -, 1 . a,•/:,J '., .,,)��r 5' �'4t )i; 1:) ti. i*W,t a f.>1 1. , I', S [ r t 1 rlF ,ti �r�R/,, ,., t, ! t ' t, y b {� I�...ir:f,`ff ,`. .? ). ) ,., I ), . ,, vi, l !j [ ,'. I, •,. ',1"' r i•• ,} �'�' , . 1'•.r..5'r i , xi..� 1/, N 7 , Iy l.... ,: j �,fil} .;;. 1> r),.. .1 " ,I II f)t i1 - }�`t .) �' rtr A°yi .r 7:fylfl •t ,1 Jyt[, r �- }` �. , 'T •: ,, ?-, f 1, ,,i I �1{'S',, I !� , , � ii t� ua�s• �'i r ,.� 1 , ..,, rlt , i I . _ r i , < ` h> ( ;fit ) 1 y I ?; r+ f 1 '� I. ,-i 'i• 1 1 1 l pp i. K.... .. i `t� t „;I? ti�.+.,:l:!! I,I I,",lt ;+>)+ , t t' ,`', ,'a `,+`{X,) :1c� � t • VA 7. r 19. MIRM The foregoing, and E) the entire Agreement between i IN TA '11TNESS WHEREOF, t Agreement to be executed by at the day,, month and ye,ar first CONT LAW Tit Kipper er iz By: AjC4qjWaQ99PC Its: Agency Clerk REVIEWED AND APPROVED: Executive Director jl. 1 7 e T'. IN '. ., t. r'�i•tar('t .� ,..,.Irk+ •' ibit "A" attached hereto, sot forth e parties. ea parti-is hereto have caused this through their authorized officerR bove written. REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEhCH A municipal corporation o!Lf fate th tate of California _4 4 Chairman .4 tt A T f APPROVED AS TO FORM: h A 9ncy At rney T DROVED : Ael_ 41 -YE-1 Admini A, Director Services it 10 Ifig rArM%X rwAr =7 Jr ail,,rrr�'M 11 qf It iK I �4 j 4A em f"o, It I X� ;Ox -t, A it I .,z 'e jIf 'et 1 0'. N,.t A, :A 41. 041 4 I - fit + _ r lr r `ice t I � _ '(- - _I .,: - ''} ,r �f• � '� - f !� �1.1 ✓tip ,,. ,, L• ram/ �If 1 , 1 tl i, +, {, .,., •,, ` ., , .. .,(i r .i1 ... ,'J, ,.. ,.r�r..; _.1,.A�ti. t,r 1, •e ,1 _ .:, } 'yY'L�..:. w.,..,,,.,.ii.r...: ..... _tom_.- t fL.. •. .. .. .. ,. t r ' # '( ,., � r650 Town (.enter DcU' , �' J , ;• r diOl I! 7�e�tr ` Suite 11GU Ltiyen C h�t�t� ostnMcsn. CA92626 Real Advisory Services (714) 556 4244 cy } t Mtly 2 5, 1990 + 1t : Robprt Franz Deputy City A.iminj.atratot: ,, f t•; city of Huntirigtun 12each ' ,,t t Redevelopment Acrency *, :. 2000 Main Street , Huntington Beach, California 92640 Y' i. Dear Mr.Franz: Pursuant to our recent discussions,. we are: pleased to present this engagement letter to conduct a market study, to prepare prospective financial analyses and to prepare an estimate of prospective transient occupancy tax for the currently under I t r<r cunetrvctlon Waterfron' t Hilton Hotel and the proposed second +[;,,i: _ I Waterfront hotel (to be a Sheraton Grande Hotel) , to be located in Huntinaton Beach, California. " '• t=; _ In thin proposal, we describe the backg>.'ound and purpose of our services to be '> ,. ?il, �` ,. rovided, the a roach in conducting t;.e engagement, p Fp tr � the estimated tine and professional fee requirements, and the limitations and conditions of our engagement. y , _ ' BACKGROUND AWD PURPOSE i 1 We understand that the City, through its Redevelopment Agency, is t: ; tt undertaking to issue bonds to raise funds to finance infrantructure i,1. ` rt4' and other expenditures foi• the benefit of the Redevelopment �[t,j ��}rf„•,IY'�. +�t`: "?� District. The bond will ': 1: secured b revenue derived from both �t property tax increments afid transient occupancy taxes. In this �:`; '�1'��, y�f connection, you have requested Laventhol & hot:wath to conduct a c r market study and prepare profapactive f ilti3naial analyses of the aerations of the two Waterfront hotels for the purpose of ,t�': estimating prospective transient occupancy taxes and property tax ."I,, ;. , };/ increments attributable to these hotels. You have infors',ed us Cha.:. .rr t iz/ �!♦ ' J f�+ J our underwriters,stone & Youngberg, at n Francisco, Cal.ftfornia, 1, ill attempt to ecure credit enhancement for the bonds from a financial institution. You have also informed us that you will be 't` ' " ' ` J 'Al ,," `. relying on Spear Street Advisors, Inc., San Francisco, California, to develop estimates of property tax increments fox the entire Redevelopment District and their report will be included in the it 1 1 ,'' il,( bond offering documents, ft r ,;,:i 1 7 S�� 1 ) 7,t•�! ,•� ,1 r•} il•-f 1{7Av llr it �. , ,•,r l / � a j � r1, l''f:r: ` ,R'rr 1 •'r, r`.� .'�; 4itr: , +_:.Scitri,�..Li.1' "'rl' A member of Horvath & Honmath lntcrnntional with affiliated offices wwidwidc. r � r � ( �� wt 1A•w,�M•HF.+�/.lt1.MAsw.•twTTN"7,IL. nfR'I .w"*1�'{^I'.lt' ., I•"'i'j � `- F• 1 '..,•1-/r ,f 4 , :�. yP'�.^�'1, +, t (7ifr :!�fl ,Z .t!-7, 'J•3 , j1Y�.1 �t: ,tJ r''°r) ::: 1 . ;ry , `rat = J..•,a . i. l+: fxr' 'r .1.. ;j,��.. Si r' t' i, r l {•(•,�.�) ,r J,+' � ��: t• 1 , 1, 1. ~.1-tl •4G ''�tlr. 1 t. .i �,�1 nw } t. ,J! >t�?'.:..•. 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Y•,.i. i �„.'•u *r•�, ry;- ,1,' 1 r �' ra���t1: `!Ci ,•�r1' r f,_,,\ ,.,:;f }-• jJ lrr l�"t :.::,„'r! rt •-..lr f .�: .. ,S /� ,.. j tJ l��f' , ''t' 1'• I ,,,1 trr , . ,: a it ' �.� ]);., .•t. 1 .. •� ,','+ r I', ,. , > (. �.lv - ` rJ,y. ;, G1 � .3 ..�' ,1 � 1-'. >�.L - - , - . + '1� , f :t'. f r• 1J �('to ,; ",..i •i :r•, y • };• •:,�'• 2 t is,._, .q .:1 i �ti •,,i ..;:'r„r L" t _ •,a• t , . .., .F'�•g 'tJ'i..'. } �Y ,.IF= f , • yam, • 't's �idT�'�, tl �.:.7f,.:./,f, ll:, It ,!)',f , -:.: , j• I, ,' 'tj r .tr , 1 _ J` r-iJ ,y t,`.1 `♦JJt •, ( ..�..:'` 1 • ,r�.r1,�'.�t==• C,'i�i';{' 'tj, f 1•. !�'�1 ��t•11 •t;f •' r it t,.,.i , 11 '!t ` r+�,�tt fr3�l �N'•, i r '[' 1 •r'1', )[ f ,,� ',t:r `n`• , J `•.-{� J 1�; r Z+. G 5-;�•t 4,f' '' .;I }yi'r,h, r;.'L:l+yy,, .rE�: i , ,:'� _',a• r 1 i.' ,1°;, , �Y.tF�S � 1'r !-::'(��''} t•..1, /� J_ r•1... ��' ,i:, 1T �:,, [.,. ,,, ,. t r•' /� t + �,.. ,•tl ',, \ � ,, MJ'l+ t� 1 li'r' � r: -, 1•;: ..�1"j tt„ F t�.:;Z(/1 r 'r.1. '�' r, 3 •l 't, )I T,,, 'r t .i. „.�, , r.. ,f y 't' , {'� �,�4' If,' '+,, 1' fG -r"i�+- ' ` + 1 S! ',• ,d:\`.� , ,.lf , fp!:-f ,'.+>T '�i3 .r.l-K it tM1M ✓i: S}i O.Q'i ,� 5'i.,•♦ i 1:., �. tv ,•� ,,�{Ihr"�.!„�+ �::,.�r r:••� tt fn,t: r. `''.. r• ' 1�• ,. •, � ',. , - r ��� L r, r� ,f, �.(�;iti•yt r'.!. ,���'.' f,T �},M� +•� ✓�i1 „i,"% iJ Y' _ 'y1ii� - " 1: '�' .f % i 1` �'• „� •r �r 'r T'?;`�'' ,rf , 2, s;�.t t(r+ •1�. 'f r t1R `S -�q i„ , 1 yl . t ... 1 1 �- ,, - J �•1, ' �.k:'r J , , '. r ,J i M t :,11 1 J 3 .,j'•Ca}.S=jr r -. � r ;, >� ;.�:-� } jf.,�;'• : • � _r. !'� al �Y1. .q. cs •�, , fib, a • v . r' tt 1 i' i'.",` t" L�aYli is , ��, , ,� ,,, ;• .� ,, ;� i S r • 1r .. ''. .a •t �iw»... _.a.. 41 1 • Mr. Robert Franz i City of Huntingtcn Beach y '. May 25, 1990 Page 2 / x :f 1 �,''✓r f='+, 1t STUDY APPROACH ! !r' Our work programs will include the following: r 1.6 Review architectural plans and other material pertaining a 'si to 01.t hotitl development. 2. Visit tnf; 0.tn to examine access, vioibility, surrounding area development trends, and other important factors. � � •ii. � ' I , �� i` t % , sr j , yid 3. Int'arview the management of competitive and comparable ,; '! t le6ging proportion to evaluate the characteristics of existing and historic demand (i.e., occupancy, average rate per occupied room and market demand segmentation) . r►� ,` tL �� 4. Identify proposed lodging developments which might be a �' � �;(`' competitive with the proposed hotels. 5 Gather and analyze relevant economic and demographic data � . emograp, i. relating to the growth of lodging demand in the , •; 72 c Lt,t competitive market. 6�. ' 6. Estimate prospective occupancy and average rate per i' t occupied room for the two hotels, first five years of operation. t��k�tt i�lt!tla�'�ilnt}: i f l A 7. nayze inormation on comparable lodging facilties to { `' "•��}� Ifs` prepare a financial database appropriate for the prapaned = I. facilities. 8. Prepare prospective financial analysis of cash flaw e, , ��, , r= ytt,,; `�;;� ry,�:• available for debt sere ice, incentive management fees and taxes on income for the two hotels in their 1 irst• five years of operation, expressed in inflated dollars using %,• aBSumltCl inflation rates for the various income and Yz; t �,rx+ rj expense categories. tt 9. Prepare estimates of transient occupancy tax generated ►� ;1yr �i'��i'' from the hotels during the first five years of operation. p e t r�, I We will prepare a summary report, which will present our findings, =, t ti ti ros and conclusions, prospective esmaes concerning the Waterfront t, hotels. The report will include only a summary of our analysis relative to estimates of market and financial performance of the ,! _ �.'�'•rw..,'.".�"'�'" (""�"'„'� ""'a.+,„"!vxs"y+►Y*svren.w.,.es�,wi1'1. r� `i' � � r•.,(tti4'/{ , �. i :1�1 •' r r1 ' :S C.� .u.i' •' �',I�t� ti r�l ,"+ iy >;: . i'�.., ��►,:a � rf M! tf itlr,l fS! t t t , t• yr ,i y lt' t''1' i ,'r. t �� 1': r { 7jN,' ' r y..l l .� 4 �'� 1 7 ;,fry :�{ � �1{� .�1 1�T tt• J e ' •ie ri ��r��� y }w t Yl ���- r � � � h���i , `�' i ��,=ter � `!i 1 t+_�. �! ;,i ,' ' ,ii. ' .�, t T- ,•�i •,, .'! � � ��;t� J�i 'r ' �� �� r.�.'!,r r . �. 't 1�yt3..s , - _�} ir't�.! 4sita: 1�'7 rj ,hS {� ✓:fi ' t r, '�t +.Y,, r Lit yil• ,i,,=a'.l 1 !rt,,,.'i' ,_ ,, 1 ( '�,'� lsr P,y, ,C%, Ja t 1: :. � ,t ; -� at I L.t [a .7•.t - � �T"'7C.a ��' t o�S;s�/`if 'jiT}�.li s-tt tall! 1t.f r r�. ;f' ,; �, f ! -' `.� ) 'w ,, i •!Y = {�-. ttt�t :�/+, �1.71. it f� y �i K +�r� � :' �r.i � �f,.li� ,�,��, , t�l, �' r ��., ri'; 1 i71 'll �f r•Y i` � r �' 1 , �A IL,�trsa �,i �K l�jrn � y E� a«1i 1.Clrti 1, ti' 1 '.1 t V� r'. t,=if, ,tt ., {i�} /'. 1 �.i�ti yl...• ttir rf, t ";. r`1 a 1 ��M�k, f'�d'�y �I �� 1 r ` ; `•,,, �• •.� p ;�'1 �i rt(i� `" ' e '' r1 i a,'+ , 1 44 y = 'i�; ,;� •^,, - r �l f 11 S�Ci� r i ,� - t ,� 1 t•: ` Y+ =Ir ijrl,�'-H}� t� SD�a•y' tr •'' t' , ,t ' != lr) �'�r 1 '..! 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(1",I�,, ,L, ,.I ` ji , i:,,.]1) • t \ l 1 / .'i S l 7. �'''�w.,. 15- .•rJ 1i •,, .,t r1 r', i.l 1 ., r.. r t '; M i, ,,1f_ )' ,ez 1 it J+ s . ,'. , tl ,.,,. �� . :1 ' u L!', MSt.Lf IS'.a.. .r.i..- ..._-_':., ter_.... ,--_�. ,...mot,.• ?3.Ytt....,..1 t „! '1•. ,• tiMt •/ /n,. It •a ,� '. : 1 ` _ .�I.. t t, O5 Mr. Robert Franz , F 1 t „ 3 ', City of Huntington Beach tz; 1t ',4 "I �� c ( tray zs, 19�o Pa P o _-. ` ,t n t1, t t i Y �%f ' AT tit t z,',, 4?� 61; . t fx ` t ) I. { 1 '-1 } t1I ,1 111 . , 1 t h 1 • jjj f1, r �-J �J + `�, +, ' , , ? t Al '>{i . ��r ,i., t1 !tt 'y1�two hotels, bFit will not include a discussion of the economics oP !T �..t I\ i3 Cf "''..t the Huntington Beach market area. our workpaper Piles will contain. ' , t , T :}. J our detailed analysis and uncier•lying support documentation. �' '( ' tY ; It should be noted that our prospective Financial analysis will not T, �;kt1r� S� include estimates relative to the spa and tennis facility to be t` «',Ja` ' tF,' )1 ` ! developed adaacQnt to the second hotel. Howeverour estimates of ' ` ,f .'� s t + 3 %'+ rlarkat performance of the two hotels assume that the spa and tennis "' ,'C ' llr�>y;,'?1 r facility will be developed concurrent'iy with the second hotel .Y ,4'I,'�- fr/ �' �� project. 1 :, '``+' L ,±' rtfJ t' r( FEEli =,it It , , f, AND T7HIN� C t J Our S'eer� aro basal on the actual t'.me required to complete the work °1, ".f+,i ' +' �, r .7, at rho standard hourly rates of tt,a ' ` �; `fj 1 perRonnel a:3signe�d. Dased on 1 ,wj t`i,4-tJ v�l})'�, 1 A F ' ` , the scope of services outlined, we est.mate our professional fe�.s ` ` A , G to bQ 539, oao to $41, 000. I, , 1"• 'rt.",l'{; t 5 ,'! 1 1 This professional fee estimate does not include '„ I,` ►Ft.', ' , ;n, provisions for , , t,,,r�, "Ill �4 )1) Y; r �; , 1 i3xpenses incurred for travel, posts a delivsr char es ' -� �'1�" ' '' 1 g / Y 9 graphics,: „�� y#,,;: >b� t report reproduction, ward processing, computer time etc. es ,"", R,c �•F.I.— rr '. , +,. t.r; expenbea will be bi],led to you at our cost in addition to our f_? 1 ' 7. t' ' . xTM professional gees. ', , will �-; tl you only for the actual time ,,' , 1 t �p ' '� ' expended. es}, . A ;it 's �, i. ,, ►, ,r T ,I 1, . tz r 3 �' S +,^ 1 , Yr S '' '' It is our izm s policy to re uire a retains r;)z I1;,t I ` t1S""IW" r ` �j 9 r prior to commencement it +r i Jr tz�y • 1 J f of any engagement. Tht� amount of retainer to commence the stud e ,► 6' 1.'_l' '' i 1s $lo, 000. The retainer wilFa tr1 be ap y u 3 ;+�;� zf ;,t r� F,}'J plied to our final billin s ,, xT.'r' r ll I� a ,a , 4. 1 under trtis agreement. Invoices will be presented to you every two U.' N ft weeks as work progresses and are payable upon presentation. All ' 1 , `'`'},� ,.j r It ':r `• ��; , outstanding Invoices must be aid j tr''' '; :_, =`"z y port. p prior to release of our final t t , -_ I Z ; f. r, II , t ', t /P+4 ' I,; t7) r 't ` t t'; Based on our present scheduling, we should. be able to commence this =, 1,• T J !} , �1�I t , i +L�i;Yi� I. >,; '''I % f;;�F,J assignment within one week of receiving your retainer and 6� (}, authorisation to proceed. fit:' anticipate delivery of the draft '' S ;r ;�l'` ,,,rx Iti, `r t .� financials within three to Pour weeks �Erom commencement of the �' , `r'lt ;TrI t h r,''i-i ';I)study, delivery of the draft report within an additional two - t `, t t ,; $, t,("+t' �,# t , ' "1 ' weeks and com letion of the final report within an additional one ;;,,y ' c�, . i S �t J f r`at 'Ytt `' week thereaft r. , '' 01 , , ,T 2 ,i+•" .. 1 r%ry, . 1 7, tt 1 t tx,;W S h . r ' ( ) 1 r� , 1 `'i t' <' 'i ij' 1, j ti n r ..f 1 n } Vyl!5 t 1., 1' ',,. 1 ! 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" , ,•1 ).r. ,,. .i L, 1'Ic',t, n•`-- ..S i t1' f. �.,1: ,,,,• 1f ,. _s,) ro8 ";.. i{ r It�,:r 1 ,- J., .s.'.'j � , F _ I ta ,ti,., r.TV `- ".,I 'r'1. , i'r - `t1 f. r;' �.q`' 2'.?A:- ... , ': M1 t f. •4! .,. . _ y. • 1fi;zf e t ( . ' ' Y yt A .(J. f1. '"' y r f , r tl to .I i! r, . I _. , .rV it rat i1 �y .I `( � I - � , .! - , r. I y } % : , I� "j, -,Y,, , , I, � .� � , ! . - : , , . ! I . . � I � .I� I ,� t .R } I "t �; I I,I ,, :,;0_', '_..'11VI `, 1.11r�i i ?a"L".•.:" r asd idle ..- 1 .. I. .. ..a j, if... . . .. ,�I .. I .. .t •1tt �. )1 .. ,/ ,, 4 tli, '� (,1.., ,: t � . ,• ( Mt•. Robert Franz ,` zoli tx ' r_i ;'',, C;ty of Huntington ilaach .. "'!r> r„'P �i,�,i . May 25, 19?0 ;. , It •\ 1/ it , �: t ` ` 'S , , "t ,.i:.i If ' i- t 1 �' 1. t LrliITA2'ION�J t 1' I', .i , ;.ltr ;� .f' i 1F t; .. ,z ZJ l�r�� I ,.. /I I •l, '� !' . r{ 1, i I , .;. 1 II , '�, ' I. .'1, . r'. ��4� i 'I, ,-, ",I" . � "_, -I. E _/ t l , -j � ,. r I, tit 1 it -,'tti . ! 1 r ;I ;� L: f1(' t, llr( I, t: j , ° r:1 ,t •). 1 A \�' 1 f 1 r I �i � it; it a = St ! ' 'r' t t , , r '$ . { a I.( y ' .1l I} (, t�'�.�. " � 1 I . -11.,*` f I t,` t t�, L I, .at ,1 ,i t:� rat! 1 t7 I1= M.j I If r r s ; L���,�a., %7 i ,'� :,�% . I i) ": - . "., l r ( " " I r1!1 It �''�, �LSI♦ ,,1 1 i *I,: { i fat '. Ohl .f 1 r I ' , I � i , t. , i� , ,,� t r)1 . I !t `'f�ir1lr R,GCEBTANLE } f`t` Ir �'t t�rVt i f ti 1( a :; r ; �. r ��. .;� ' .,Aj i I } ly; 2. t _'Sr 1, ,i Y r (S r ,� S I, -.I x " ��. ;f �t '1 { , ,,i1 tL�Jk tf 1 , t I.�`y r r Ja1; a-��) 1'.Sr '. • tii}, 19 1tj - , 1' c t•t i ��I t`, "1 r t, �, , 4t: r i 1,tjr +{ rr I, (! J f. • , � '�., �� r t yyti {} it r ,t, 1 `T f1iY I'..1 1/ a ., tit I t , >yyr,'r.'.�., 1 t t 1, It Syr'. I If:.�. I 1},'C d'1r.J t , I I ( r httached to this engagement letter are the Stand+^:rd Terms and Cond?tiuns that are an effect for thin engagement. Your eiSnature on this engagement letter is an acknowledgement that you accept the terms of this proposal and that you have reviewed and agree to the etattdard trirms and conditions, except to the extent: they have been modified herein. Our report and the prospective financial information may be used by Stone & Youngberg in negotiating with a financial institution for credit enhancement for the proposed bond issue. In addi��,on, our report and the prospective financial information may be (deed by Spear Stre�3t Anvir�ore, Ina. in developtd©nt� their estimates of property Lax increhionts attributable to the subject Waterfront hotels. otherwise, and as provided in the standard Terms and coaditions neither the whcrle nor any part of the report or .its contents may be included, referred to nr quoted in any offering circular, registration statement, prospectus, saki brochure, �+ppraisal, loan applicat.ton ar other agreement or document. Under the foregoing ].imitation, spear Straslt Advisors, Inc. would be precluded from refereneirg Laventhol & Norwatti in any manner in their z'eport. Should Stone & Youngberg subsequently determine that reference t� Laventhol & iiorwath would be necessary for incluO.on in the bond offering documents, we kould have to address the conditions of such reference at such time. There would need to be c}ranges in the scope of our sv>_vices, the responsibilities we would assume, and additional for our services. OF PitOPOSAL In order to initiate our services according to this proposal please sign i:he enclosed copy of this letter and return It to us togeth$r with a letter indicatitl.g that the retainer wi1J. fallow as soon as possiisle. o. r =, ►' � {., ; I" t, �r' ' it ��! ti > r .."TJf r ',., f 1 , r f ,;I i - -� f I r t1. i 1.t i.,�. 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( r t r y _S . :i ,.. ,; -�,.,II :,,. , , I -,I , , � � ,! 7�� �- .i `'1 r I•+ . y 1 ,' () it 1 't' !r rl I ` t. I1. , Itl i, t z _ . ..Yll .' •t, _ •�• .•«.•« .. ..gwr..wwi+nr-...n 1.... ,.+. ...w.. w.•.+.... r..,.....,....-",.,^+.1•t,r•.:v:>n�u..-,,-"..:-� i""X.w.a—.,wsY,-.I-I1'117Y.1R11"_..sl'1:4Xr.i�..•i'4iilf+rti...L.i t ,I Ik,4 ' , I k ' j .% i/ f i ,i ': J ? , ;"" i �, 41 '" ti ;;. : , , 1 , II s �, fit, r}' t jl. `�,•j% iI , ! i "i - J 1 ' .�I 3�,' ,�i ,'.', . • , i I fly i r ;.1 9 ., , . I ( I I . I .I. I� , I I .1 - r,- ,v ' ,� C- i t'�I,Al , 7 ,; - IZ, ,y j!'k%- tt: ( � ' .i f T r }� T r�r r , �, . �.1'r y it, l • � i C 44 i)�", t. rJ ii l. ' i + I t t .l .', , „! 1,Y 1�i Hl�'41�0 /.1 & 11,.7R1��T�� , ,'•, , STANDI�F2p '.1F AGEM... T _ri��s J�Np CONpT row 1 ��, r t'. f t: ` , , j ,, "`' our report) a uuhml.tted tc� you will be hosed on ©stimates, ��,±' '`= j '( r7, assumptions and other information dpvB..oped from research oP. tlto ,,, �;,;" %x :`i ,' 1 i; ; y , market, our knowlec:yo of thc� real c�etate industry and meetings ' ': t*-, "� tz'! t durin which p ; ,, , , ; 9 you will rovidd certain information. The sUur.•ces of ,' ''O +?;� i s `,; information and basis of the eatimatos and deuumptions will be J , ?. ► u�' atatad in th© appropriate sections of our re ort s A: ,fir P ( ) This data r t,W'•' � +' t + , will be prQsu�r(ed to bQ reliablet but iio responsibility, whether 'y`',:: `' t ,; 7,r,}"1"v' `+ 3'� `{� 41 '.' le,xal or othQrwise, will he assumed for its accuracy, nor can it '`i; 'Imr d ' t " �� .Ll ' ' be guaranteed ,as being certain. Some assumptions inevitably will '` -'' `_V*'`' '. Y f r ,' rot materialize, and unantici sled et�ont3 and c ; cumstances ma (k'( , r occur. • p r y 'r' 1ti', 4't,`rt , {, t� r, 1; , therefore, actual results achieved during the period covered (`'} `' � �'"';� -', ;,(,, : by our analyses will rlry from those described in our. re ort and ' 'Jib, +«,i4 � ;'k , r ` ,i , ' , the variati.ans may kia material . our report will contain a Y r, ;�', 1 yet '� r' _4 i statement to tk�at effect. s Ilr'i ';I{ l r� t• r, Under the terms of this: engagement wa Nti11 have no obli motion to ; ` 'r `I t X�atMlI tt +%;''' .',1 revise nur rr�portSsj ��r the estimated market and/or / prospective , r ;' ,; '' � •q ,,i; �:r Financial analyaic� to reflect events ar conditions which occur 4. 4 ';, , I tj • r r .F subsegvFnt to the last day of our field work. However, we will be ; ..1. 7, `' , F` 1s f , ' ' y 7 �' available t0 didCUsB the necessity, �7 1 t I. for revisions in view of changes z - "x;J'-1''f � ' •III. �M. S ', "� Y f in thQ aeonoTnic or market Factors affc�Cting the project. �1.� 'g�Y i Jr l t rf a t 4"}.. �- : 'r1't WA will net ascertain t1,e effect of `'1•I" r't ,; ; , ,,_ , ; present or future legal and (x t 74�`s � r: regulatoLy requirements applicable to this project, including '(" '�- ( J.'. �, zoning, other state and local government regulauians, permits and °�.6 >+ e, ;F licenses. Further, no effort will be made to determine th6 ''' possible effect on this proffer, a. ((Y�� 1 { rT2 �!t It . i '? 7 r r Ctr of Future r `rr: � ,..4, i.,� i('P��4 . , Z. - 11 ';� fr y legislation including any environmental federal, state, or local +a, fr rk�.r �r Y I,,t +�' growth restrictions, or i„ , ,j�0 {;�, �� i'j+ A� il,1;( �, ;; ecological matters or interpretationu thereat. The reports will F ;�.,.�'. k1, ':'1 i . ? 1 . iY{in .1 `11 `I',: O � ? z , `I: not take into consideration the possibility of hazardous, or T' �s , ` �I& 11 - . ' "; f l contami7ated .substances and/or underground storage tanks containing t ' ;f f ;tY w '`' P `Ire , �,'-`; v' ,'., ' t hazardous material . 7<•te reports do net consider the cost aF �° '+, ' ' 'Ir ''' 't " ,� `"ll�a;;.'t<< encapsulation treatment or removal. of such material. Tf the scope i ,;4' , �. M,%; ''. r` I f- ." 1t •a <, . ' `" -� of our assignment includes an a ? r, ?'' ' '•r t� ;, , . { ppraisal, and iF the client/property a�" r' ti," F'., ' .-, , ,,;, � I"1 , , t; o�i�er has a concern ovbr the existence of such conditions in the • ' I ,i , ' ; 0*. 41�,'( �t�bieCt properties, the appraisers consider it imperative to retain ��'t ;,: w`; 7 < < ; ''t , '71 • /; t ,j the services of a qualified engineer or contractor to determine the , } ; t �tk` { } i' ` ,'`��` ! ;' ":I existence and extent of such hazardous conditions. 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I1 r.., I t 'ss �r rI , r t, v., � , ! tJ t ;, `VI }2 a 'lr t r'r t t } :, f , ,'., ,Ca : 'ra ,'r I,t ' I , !i (1• .I ~err .i ,t !.I tt} j I ,. i 1 t 1 , :. I, ! ( - ! t, l: I if 2 i4 13' J,- J :7. ter ,. �, ;' 'a ,!Zt I ' \ r ,,;a 1 Sri ,'t r,.! - ,' /,, , '� 1 + ,, .I- } ,,, t„t,�- f , ! • A :,. 1 . / % • t,1 l I._ t V, i I. t .. ,._w w...-w ww.kw r,.Aw l,l � —JV.. — rr.+.•r—..-.—!...a,k SfJ/.K'1:'•.. !—.,U'.—AJ i^.w1,' •�.•• •,'• I , It; Y i Irt�'rc��sr..rU i.rrs'+w':.[./�,+'�t:A:l ..t.t�i.h. ••avc.r.��fvr"Y w•.S�ALX%L , t / . ' t 1, -1` }} tr t ' -,ti t + 7i1+� li rN r 1 i'/ t .'1 i1 ! � , . ' r 1). If i, 1 i t I. ' {,ry�l; I 1 ,1 t I , 11 \, •IIr ,l • f It 1,'! i, tt �, lI rig s ti,1 I t, 1 r , t,i #! '' ti 7- It , 1, : ; J I '1+ �1 ,d �1 ; t ' !r ' '' '� '' ' a�tcn rnnsultation should include the estimated coat associated w; th �`+ ry ' Ir t l,'a � any raquired treatment or removal of hazardous material. with ;cl., `:',` ;t roapeot t:o market demand analysis, our work will not include an ,�'� ;� , {+ , ;; i�' ..f'. ' 'J' �� analysis of the potential impact of puss ibte ene!-gy shortages, any •` r� I,' , ` + ,, otl�ntial shar ripe or decline i;� local of eneral economic '' "'"'` { t P P 9 i } , ;! �, ,It, canditiasls, ox $everQ economic disturbances. our reports) wil] i'' �-,.'= +' Fit �' ' :` ,, contAin a statet�ent to that eFfect ',';l " ! ` J '.,'I} ,� 2 (s,{Y% I., >• �;' Ii We have net br3en enc+aged to evaluate the effectiveness of i ir,::;.` f .' '' management, (which may not yet be 'e.elected), and we are not �, ",+'°, ;�'; F responsible For future marketing efforts and other management I0 ni,r I - , ' ; i actions upan which actual rasua,te will depend. 1 ;c, „ r",' s; . 1 `~1 .,,.`. This Scope of services and profe sional Fee esti :iaten are valid , ,, .,+, (..r'' Lt •-t - ,�r S<' �' for a period of sixty (GO) days from the date of this engngsm�3nt +.�, , CA I ' - letter r ;� , .t 1 ,,, k ,. ; . . sir( ;I .> + . , ,, rr ' "i' S*I 'i� I r , our report is intended For it ternal use by you, the client. i' ' �`: ' � +. X`J'Y "' Neither the who14 nor any part of the report cr its contents may �, I ttt •,i1, `'; .-14 , �i ,, be included, iafer•rcid to or quoted in any offering circular, / , tt }rf,yt« „ ;.:> ',, registration statement, prospectus, sale brochure, appraisal, loan , I . � 1�1 ( �}i`,t_'A i..- ; , t''.t! ` .; I' II application or other Kgreement or document. '`O l ;;t "��1 ,;,�, M )J , ', !" rrom time to time and or at waur re egt w•e maV issue a draft ' y �:'�5 Sys' J, :! ! r t, •: + 1+"•i �i" f d 1 ): 1; ':7 ''t t} report, discussion outline or other interim document(a) . I 1 i- , ,' -' M1 '� ''' This Chase draft re ort s1 a„d documents are not to be relied u an "j `}I ►,' k ( „iJi / ��.._ P 1 cZ•) l�r 't'� r l ( 1,11° -T. i (e. , ,I! ,+' to Hake management/).nvestment decision: nor are they to be r;> 4 r ; t 1 , ' \' tt L +, � ; , presented to a third party in summary, in part, or in total . iC* . t� �; y ' 1 ."14 This/these draft rc part(s) and other interi;n documents are to be �' `r �'L«ar }- N •; !' I used For• internal diacuasian purpose>a only. ; a I- I i �xl',' ! .:;I tI , �L I i'' i - t, i• 1 J I `�t4 'tl i � ~i Any additional services beyond the scope of work described in Chia L rI ' , .. 1u,1,+' '� ''j proposal w 11 be billed to you, based on our hourly rate schedul@s k;,(+ �� �. �, ,''r" ".i. ,`-•1 (' ; „ is , `� an@ the actual time spent, Examples; of services beyond the scope tla> ,� , t w r I= ' (R , of this engagement would include preparation for presentations to rl 'Ir, 1, , ;,+If l- 4J "+ outside rou s incluGiita cit x•e resent-atives ublic meetingssa , `. ► =1 , , ,c ,, L' t rt g P, 9 Y P r P 9 r zy a_,ar=r,iJGL, } kY1 r I. ,, i, �'' ,1,...31 potential lenders, partners, or tenants, and expert testimony or i ,,,r., fr, '�! 'qs tt : , i' related preparation. We will not undertake any additional services '� *' i ' yl l^ t I- , ;,' I' ' `.'i'' r, ,i withazlt your prier authorization. �,ft; , �i�hi ,' , t ° , I r!i{ ►--i , .-I,. ^'. ` !:r� ii at a»y point during the course of this engagement our findings `"I'fir, 2�'t,j� ���: ., „ I• e j1 r. �4', �. a lead u:i to a negative conclu�sion(a) concerning the project, we will ("> ,s;;?lis; ' ' J? I{1° G •I`t`Ir meat with you or telephone to discuss our findin7A and alternative ��1 ,'` It,f', 7,;''i ,F b; �`' rr:, 1? !f : _ approaches and reach an agreement on how we should proceed with Cho ,,r`, ; - , c'?,' ` ,", L engagement. If the decision is made to aiscontinue our work, our `' Y'I 11 i!' •1 'li l i ;1 �„ ` ' ', ,, li } r t.. r ,- 1 , . I " ! II., ' ,/} tr -+ t',I � .� ."i IV I , ,,. 11, : ,., 1- 1 ( t'' l� , r " \.t �,I -'iI,. 1{' S't iII , IL 1r- i(t Z - i t r�t' . It i . Ii Mi It tY I r r � Ir 1 , A).A)'f yj�', r'.4 , �i.:'P,Jr ! �,�1. i`. .' r' r It r t 1+ J A J ,, I., t r {I.. 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C..I � i.. lY.. ;ir i .., "f. �I i; r. a p ) 1 .,.��, ..,r , ,.. :.R.c. �1 '.e+; r .A7„t. it r.. r., �, jt' I� t r• I�' i� r •,' •+ S��l,i>t �' ! 'I! w'J ii I{' �� •l f +L' }.•. ,,: '1'r ., a'i t.T� „ +r . ,�,y5 y'rJr1 " `Y .• q�',1�E,'r ��:(n� •'�• t •:'!..�, %y !�i :4. •..� , ,' ' I , I1. rr. t r,q ri'�'�. 'i�i� i I _: , {, +'y t r. 1 !• �i , •.. !. , _ .. r .r / i ;' ` ? Yr _ ! t ) + �14� .: - ., r .. �t r I� r, ' , FY.. 11 It _ ':: ' 11 ! t . f i +� r,:'S t., =�& ' i. I� : i', r .J Z' I y l t L' + f) ^t� r 1. 1` �, 1 Ji, i 1 ;f�l �iF- 1 [: ,Jr 11 "yt 't,: Jl 'I'' !, I, ,'� ,} _ I !, !i , J. -. ,, ry,f ,.,a r r i I { -I �1', s' , y� i ,.I, ', �i tt y . , .. - - t - .. , r, . r 1� 1 , I I. r1 t'JeC} 1 ''S) I ;/lt i (, , 1 r' "r , .q1 i, :.a ,f., .��. l.:Lz:a._. 1t::i+j�i1T .s- .u", t ..!_ yF - dtl, ��a�A. , , U.�. .>..1.,L'T.:ik+a.,_Ai F;a;O. ' 1 ..._...... ,. ., , .,(. - , , ,. ....,.1 s� , .•.r...., , tT / y �,}�1 ! `F, h r 1 t J r ri+ t ' tii A ,ti t FI. ., t 11 F i f 11,�T i1 J1 I .} f1! o 1 r. +�` LI •1. Ii`,) ;}1 l? `Ir f�1n:51 rt ! „., r �•f� it + :Ill) et I e, ,*.rlr tf4ti' f t +;, . I ,r ."t tt j . r� tr, j j _ t 1 ;. 1,;; ,;fL ;A ,I- -IL :� fdaa dill ba bacad upon tha time and out of pocket expenses „ ,''�'i;`��. '' ! . t;� + J incurred 4hrough the data. In that event Y our invoices twill be due /, .: '?,, . ,,r ,II f .f-'Ia,1 1. r f and payabl9 upon preanntatinn. �z 1 , J 4� ' ' ' 1 b 1 r a l: t1 L t > '�` ` '; r+ ';r.: ` ! Our prelimi�iary engagamank plan includes allowa.t:ca for the ©laments r", ' : � , and oonditio»t�, which we expect to oncountar in thQ course oPI the ,f, ! I O �, tE ", ;; engagemont- In the event thae we encounter situations which ,�� include a Hoed for revision or modification in the esi i►Hated fens, a.. t+ � .. 'r' �' we will discuss with you the causes and lil:oly effects of the �L ,' ����� .. if Jf �1, , J rI. I A, �'''� reau_red modification g both in teimis of t3 ming and fees . ,U 1 ,, ,L 3n the event that the client ar Laventti�ol & Iiorwath elects toy , . iE��r ;'�' r,i ': t.� ` z` . � terminate this agreement the initiatii.q party must notify the ',� r11 ;1 ' LI J ,•1 L •�. f 1, A.i 1 J, 4- other in writing. In ouch event, the client agrries to pay r ?,� '��,` :,t �a�. '�; , a fi ] I ; r i) ,1. 7 rb i ,y Laventhol & FIorwath for all profesc�ional fe'.as ana expanses incur.ed , � 11 r � � � , °'to rl � ). up to and through the c�.ate of receipt of no; l`+.:atic.i to terminate jIj this a rafymc;�t. Laventhol & }iorwath reserves the r. ight to withhold ; r , " t.�IZL `, . # i>� j'�ci :; ; 0�„,4, deliver of an re art document until all outstanding invoices era ;�1511.% tip, L, � �t , 1 paid inyfull . y p r ,, :y h f� i.�4' f 1 1 r S! r `Cy )`rl A�i ii' L,# I 1 J1. 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I) t'+ X t �7f�r ''i.�fI ' I I-N•:fr1r11 .;'yS °jy `, ;, 1 �. `y�,'�.4u�,,,;�. a { t,: .. � + .j77t I i I, ) r A. T J 1 ( � :' i'ti:{` Sf.,. f 1, '. t�' {' k r , , j r `�. l . I ! F ty ; N� , ?y� .- r hP :y f; ; „.'1J7! 4t , ''(-i )ff: t {. , `r ;1 ,,, [ :I� ; SF+ pr t 1. , t'. r y .. 'j'`; .;a( / y,,t ttt /. r,: t;t, ;. t.il"/, r 1 ff. k - i. ;S ti,, ..�1 t { 'If:l. "!- +f,.r .il:w Y1 ? •; ( I' •, , :� '' It ;(. .YJ::, a ,1 - ,+,' it 11 1.'trot'••-i7t'/'1jry�1' (I �` 4ef�.._ .,1t� t `+ , :,,. Ly, ,( 7, ri. 'I.,1 .i ..7 /., ,,• ./.l di 1 •i a __ +}. �.� yL}„ v 1,. +L,!11 ',',3,.. .,l „ i'- I'TJ F ;. ti,' - l � a ! �' _ , { : ..Ii:, �- 'E ,r;.: - t •-!•' t- t.:.; r:.•.,J. • "+, +i.S• i, ftt'.t k Fig , , . , , t I� I � � , r I- t S i• c rr ,, f ' t'c � td �l ` • r, 71 1: 1� 10 t+•'-�{ tier. • I .'r + i .._ � 't it �k� •• ��,..X " '• f ; � �� ' i 1 '' � t E, r ' • r'' - f. ;'i` I?r•'�fr�t `. nt �l � , ,,•��r �rfk rr r: .� '' CTt4, •% iCifr`�{ri�i l �� '�ifl `r=t', f ,�, t- tr...u•waxtiu.a►►r.�rnsru.ua:er w...�r+��.�tJiast�KtlOiY�119it]w►iiia.wtrw....y�! r. 1 a_ t •` \e� t 1:; WATERFRONT FINANCING TENTAVVE MIETABLE ! 1 !tl Task Responsihil ty l .r 1. Preliminary meeting with Bond Counsel/ Underwriter/Agency Robert J. Franz Speclul Counsel R{ 2. Request for Proposals from Consultants: Robert J. Franz Hotel T.G.T./T.I. Analysis (Completed 5/17/90) t 7 '-. c<<-•,�� Plain Pier Tax Increment Projections (..omple.ed ../1 /90) Flnnneial Adviser for Debt issue. '$ f; 3. Meet with developer to frame issues and outline process 4. Approve select ton of consultants 5. Complete Hotel':.O.T./T.I. Analysis. Complete f4atn/Pler T.I. Analysis ` is 6. Complete Analysis of Financing Alternatives tf 7. Prepare Draft Documents end Presentation for Credit Enhancement ilie B. Credit Review/Final Documents 9. Marketing and Closing — Debt Issue 10. Fund; Available All Parties Robert J. Franz Hotel Consultant Tax Increment Consultant City Staff, Developer, Financial Advisor, Underwriter, Bond Counsel Underwriter, Bond Counsel Underwriter, Bond Counsel Underwrlter, Bond Counsel Est. Time RequIred l Day 1 Tiny 112 Day I Day 'I Weeks 4 Weeks I Week 3 Weeks 4 Weeks 4 Weeks Estimated Completion ;!5/17/90 05/18/90 05/23/90 05/25/90 06/22/90 06/22/90 06/29/90 07/20/90 08/17/90 09/14/96 09/14/90 ':'^T^ «,,..r. ;}+ jr,-r^�-rr-`{;.�.�.,;^^+-R•r•(1S�t r•� v!;yr-7r'���+nr.r-.•�^..^t+n•Y" �•�••,rTr•r."'�tr'w�r•-'�"Y�;-r r- rr",'r".++...r'.!�.n-rro»�r �.T,t',``"I+�gr,� ^�"^. �1f tiF 4 j�i (l I t 1'• •! �Y ti� 1 t ` ��I,t -�y. n. il� '�.. f �fk 1 1% / J �•7 lli•. � 1+ , j •,r t ••, 1 r ,. �r .l. �, I+ t! �1 �: r .ISI rr j 1 t//fir• .{. ,y fJ '� .. r 1 •, -.-. � ; t.,.' r { ,;1 - i r:� J .} a r,: i"'� R tale-i ::! �r�,�+� 1-1 0 r '1 r, ,n ifil�l 1 / �/� ! ., h r �i. .r i • r41 L t ' 1 i�! , ��",1 � +T r`S...J�, % f f ' �' 'rt 'fy�,,.y���j r' f� r �R r'', r ! .r r ""rtii, 'r `� i t'•�SI�t�IjY7\ r7t�l.i1. d S, ,.• /•'t s! fir: 1 rl{ r _ r 'N. 1 r,t ,*; , r Y/� ,1 .F .�';+i�}t iN'•r 11r,". fy, xr. r; t�..' a31� , J: ,r> "•,! i� �` 4!�'•,f �;' •i Lt •.{���•t. 1 �r?^x-- t '�.yf L !� i i,r , JI. •�•. '.� ;,t4�� t a �i /.'• - Ji �;� ^r1Ly�t ii Ir ft ':T:. i �i,`' '+�:•,. rl ,i.Y kRt :'i it r'r .. ,._ i. ej.l r t ' J lid I f 1 ; r 1 � t Ra.t+�-�-, _pia .. .. �__— --'-- '-'-' -`---"--- ------`-- - --- — ------. _ ." . _'A.. - .� .��• _. t•. At 1 t •\ 1 AIP4P1p10' � C �4Ti 1CI�TIM � I'INSU ANC, � � t � ry rr. ISSUE C•A1L' (61MID0lYY) Pnonuc£n 711I9 CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION CrIL'i AND CONFERS Y NQ RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE ODES NOT AMEND, r t RHIt Of PA Inc EXTEND OR ALTER THE COVERAGE AFFOnDED BY THE -POLICIES BELOW '' r P.O. Boa 177 t Wynnewood, PA 19096 COMPANIES AI:FOnDING COVERAGE C0MPAl1Y LETIEII A Federal Ins. Co (CHUBB) CODE SUB -COOL r 1 COMPANY INSUREDCUMPA �iCy lC'1EI1 .:•� :{ r- I Laventhol & Horwath LE TERI{r C' 11 , 650 Town Center Or COMPAHY D !i• 5` 1 Suite 1100 LErIEn , Costa Mesa, CA 92626 { � COMPANY r 1 ATTN: Richard Kipper L£TTEFI� Coven#aES' w '' •, �`'' I: THIS IS TO CERTIFY TIIAT'ii E FO�ICIES OF INSURANCE LISTED Or HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED, NOTWITHSTAND'NG ANY nEOUIREMENT, TERM On CONDITION OF ANY CONTRACT OR CTHER DOCUMENT WITH RESPECT TO WI;ICH THIS l f r CERTIFICATE MAY BE ISSUED rill MAY PE:ETAIN, THE IN5UnANCE AFFOnDED BY THE POLICIES DESCRIBED HEREIN IS SUBJE:)T TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES, LIMITS SHOWN MAY HAVE' BEEN RED'!:ED BY PAID CLAIMS. ! ; ' POLICY EXP:PATIO lICY N Ai Co. LTR TYPE OF INSURMICe POLICY NUMBER P7DATE (i1MRSDII'y) GATE (Ijuvo YY) ALL LIMITC (N TNOUy�NDg OENERALLIAiI1l1T1' GE!:EnALAGGR:OATE E 21000 A X COMM EnCIAL G oiem UABILITY 06950930 1711./89 12/1/90 Pn000CTSCJMPIOPSA00RCOA:E E 1,000 CLAiM3 M. JE %{ ' OCCUR. PERSONALS ATJVtATIS(NG I!uunY I 1,000 OWNER'S i COHn;;.JTOR'S PROT. E'CH CCCURRErI.E E 1,000 E r� , t ` X Products/Completed Operations FIRE DAIAAGE(Any one Ico) S 100 I 1, + X Contrnctua l MEDICAL EXPENSE inyansperwn) 1 1,0 c AUTOMOBILE LIABILITY COMBINED t r r X M(AUTO LIMIT S 11000 , ? Lr "L`': Lil a r X ALL CANNED AUTOS COOKY 1 INJURY I X sc1iE0UlED AUTOS (Pat pat"a" S i X MIRED AUTOS OOOILY X IONOWNEDAUTOS . ; y } A BAP73060743 10/3/89 1013/90 <<u«aa�,1: f �� ' �! t GAM7w 11A81LITY CPROP AMAEll OErr s EXCESS LIABILITY EACH AOOREOATE ' OCCURRENCti OTH01 THAN UMBnELL1. FORI.1 - '' Lr a ` t 1 ,.•�', I. WORK[R'! COMPENSATION! P \ I G STATUTORY I 1 . ; (LACIIACCIDENT) r , 1 ANU (� a 14' Ev (DISEASE --POLICY LIMIT) EMPLOYERS' LiADIIITY r ice, + ~• V t , ,- ��r 3 (DISEI3E-EACII ENFLOYE �! .,OTHER e ''s - j I •'. r i DESCnIPT10NOFOPER06TIONSILC:ATIONSI,1'EHICLESIRE_TRI TTONSISPECIALITEMC Additional Insured: Redevelopment Agency and the City of Huntington Beach, but only insofar as operations under this contract are concerned. r {Y CERTIFICATE HOLDER CANCELLATION Redevelopment Agency SHOP".D ANY Or THE ABOVE DESCRIBEr POLICIES BE CANCELLED al'FORE THE 2000 Main St. EXPIRATION DATE THEREOF, DIE ISSUING COMPANY WILL r*I1QP%VGR-TO Huntington Beach, CA 92648 MAl'.�Q,DA1'SWRITTENNOTICETOTHECURTIFICATEHOLDE�RNAMED TO THE LEFT, BL&T-�:•-4 *Afb GU611 NOTIGE 9 - ATTN: Michael Uberuaga �- *FAR%'C'P#E6E4Ai+!#4rFJ ^� t } r i ' ; AUTH Rf! 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BOX 807, SAN FRANCISCO, CA 941011.0807 CC%MFLqASAT10N I N 8 U R A N C 0 FUND CERTIFICATE Or- WORKERS' COMPSN-SATION INSURANCE 0434901 `0 JUNE 6, 1990 POLICY NUMBER it h CEnTIFICA*, "YFIFIES: r DOPUTY CITY ADMINISTRATOR ATTN - ROBERT J . F RANZ ADMINISTRATIVE SERVICES CITY 111LINTINGTON BEACH 2000 MAIN ST. ?IA HUNTINGTON BCACII, CA 92640 �j L if This is to certify that we have Issued a vaIll Workers' Compensation Insurance policy in a fro m approved by the Cillfornia Insurance Con,mlisioner to the employer named below for the poMy period Indicated. This policy is not subject to cancellation by the Ftind except upon '.La days advance written notice to the employer. d T_ J, i We will aliu give yct, TEN days' advance not'-. ..ould this policy be cancelled prior to Its normal expiration. This certificate of insurance Is not an Insurbrsce policy and does not am.ad, extend or alter the coverage afforded by the ccidition of any contract or other document %ith policies listed herein. Notwithita-ding any requirement, term, or r:-tject to wh'Lh this ciartificate of Insurance may be Issued or may pertain, the insurance afforded by the policies TX described hertin Is subject to all the terms, exclusions and conditions of tich policies, * 0 ibnES1DFNT A EMPLOYER'S LIADIT.TTY LIMIT: 43j,000,000 PER OCCURRENCE. "A A, % EMPLOIr ER -A .1 r RICIItkRD KIPPER 650 TOWN CENTER., STE 1100 COSTA MESA X"i CA 9262 r _--rw— 7_:rtm c V ql�l jrll� I IV "gi e. J 1,1 ji 'it Tit'ye U., rl F4,-, N, A ` JJ4" Ix a 0 tp" 0 1 r. Tq " J" 7 fo T J 7 7 lw ;W,llf 6. o .14A 4-1 11 f