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CONTRACT 5286 Reimbursement Agreement CLOSED Agreement No. 5286 REIMBURSEMENT AGREEMENT This Reimbursement Agreement ("Agreement") is entered into as of February 14, 2017 by and between the City of El Segundo, a general law city and municipal corporation("City"), and Bill Ruane ("Applicant"), who agree as follows: 1. lZec;itals. This Agreement is made with reference to the following facts and circumstances: a. Applicant is the seller of property at 125 Richmond St. b. Applicant is seeking approval of a Downtown Specific Plan Amendment application to remove the requirement that allow upper-floor residential units must be business tenant/owner-occupied. c. In order for the requested changes to be executed, City must assign certain City staff to complete a number of tasks including review, preparation of a staff reports, Planning Commission Resolution, and City Council Ordinance (collectively, "Services"). d. City believes it is in the public interest for Applicant to pay for such Services. 2. City l in bit rsement. City has estimated the costs and expenses of completing the Services as being approximately $5,000. However, the Applicant acknowledges that the actual amount of such costs and expenses may be different. Nonetheless, even though the actual amount of such costs and expenses may be different, the Applicant agrees to reimburse the City for the full amount of such actual costs and expenses in the manner provided in this Agreement. Upon completion of the Services, City will provide Applicant with an accounting of those costs and expenses, which accounting the Applicant agrees will be conclusive, in the absence of manifest error. The total of the costs and expenses, as disclosed by the accounting, is called the "Reimbursement Amount." 3. Method of Reimbursement. a. Except as provided below, upon execution of this Agreement, Applicant agrees to deposit with City $5,000 ("Deposit Amount") which represents one-hundred percent (100%) of the estimated Reimbursement Amount. Should the actual Reimbursement Amount exceed the Deposit Amount, Applicant agrees to promptly pay City any difference. Should the Reimbursement Amount be less than the Deposit Amount, City will refund Applicant any remaining Deposit Amount to Applicant within thirty (30) days after determining the Reimbursement Amount. 1 Agreement No. 5286 b. The Deposit Amount will be placed in a non-interest bearing trust account established by the City Manager. Applicant understands and agrees that City will not pay interest to Applicant on the Deposit Amount and Applicant will not seek such interest payments from City. Costs associated with the Services will be charged against the deposit amount. The City may require Applicant to replenish the amount should the balance fall below $5,000, and the Applicant must submit the amount requested by the City within 30 days of the City's request. 4. City Administrative Costs. Administrative costs incurred by City, including, without limitation, staff time, legal costs, fees and services, must be reimbursed on a time and materials basis based on current City reimbursement rates. Such costs will be deducted by City from the Deposit Amount on a monthly basis. 5. Atmis"c�int Default. Should Applicant fail to perform any of its obligations under this Agreement, then City may, at its option, pursue any one or more or all of the remedies available to it under this Agreement, at law or in equity. Without limiting any other remedy which may be available to it, if Applicant fails to perform any of its obligations under this Agreement, City may cease performing its obligations under this Agreement and may bring an action to recover all costs and expenses incurred by the City in completing the Studies, together with interest thereon from the date incurred at the rate of 10%per annum. 6. Conviiance with Law. Applicant will, at its sole cost and expense, comply with all of the requirements of all federal, state, and local authorities now in force, or which may hereafter be in force, pertaining to this Agreement. 7. Waiver of Breach. Any express or implied waiver of a breach of any term of this Agreement will not constitute a waiver of any further breach of the same or other term of this Agreement. 8. lnsolyeLn y .receiver. Either the appointment of a receiver to take possession of all or substantially all of the assets of Applicant, or a general assignment by Applicant for the benefit of creditors, or any action taken or offered by Applicant under any insolvency or bankruptcy action, will constitute a breach of this Agreement by Applicant, and in such event this Agreement will automatically cease and terminate. 9. Notices. Except as otherwise expressly provided by law, all notices or other communications required or pennitted by this Agreement or by law to be served on or given to either party to this Agreement by the other party will be in writing and will be deemed served when personally delivered to the party to whom they are directed, or in lieu of the personal service, upon deposit in the United States Mail, certified or registered mail, return receipt requested, postage prepaid, addressed to: 2 Agreement No. 5286 Applicant at: Bill Ruane 402 Main St. El Segundo, CA 90245 City at: City of El Segundo Attn: Director of Planning and Building Safety 350 Main Street El Segundo, CA 90245 Either party may change its address for the purpose of this Section by giving written notice of the change to the other party. 10. Accentance of 11lectrpnic Sianatures. The Parties agree that agreements ancillary to this Agreement and related documents to be entered into in connection with this Agreement will be considered signed when the signature of a party is delivered electronically in .pdf form. Such electronic signature will be treated in all respects as having the same effect as an original signature. 11. Governin Law. This Agreement has been made in and will be construed in accordance with the laws of the State of California, and exclusive venue for any action involving this Agreement will be in Los Angeles County. 11 Partial Invalidity. Should any provision of this Agreement be held by a court of competent jurisdiction to be either invalid or unenforceable, the remaining provisions of this Agreement will remain in effect, unimpaired by the holding. 13. Integyration. This instrument and its attachments constitute the sole agreement between City and Applicant respecting the matters above and correctly sets forth the obligations of City and Applicant. Any Agreement or representations respecting the Property or its licensing by City to Applicant not expressly set forth in this instrument are void. 14. Construction. The language of each part of this Agreement will be construed simply and according to its fair meaning, and this Agreement will never be construed either for or against either party. 15. Authority/Modification, The Parties represent and warrant that all necessary action has been taken by the Parties to authorize the undersigned to execute this Agreement and to engage in the actions described herein. This Agreement may be modified by written amendment. City's city manager, or designee, may execute any such amendment on behalf of City. 16. CoLttitert)arts, This Agreement may be executed in any number of counterparts, each of which will be an original, but all of which together will constitute one instrument executed on the same date. [SIGNATURES ON FOLLOWING PAGE] 3 Agreement No. 5286 IN WITNESS WHEREOF the parties hereto have executed this Agreement the day and year first hereinabove written. CITY OF EL SEGUNDO, APPLICANT a 4mun cipal corporation. Clie .7arAynter, City Manager Bill Ruane ATTEST: r they " aver", City C'�' APPROVED AS TO FORM: ro( M—arPU.heolisl el'y�,�CtfA­ttonicy 4