74-0503 Spiess Co. 1-4-0'S(23
JOINT CONSTRUCTION CONTRACT
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AGREEMENT made this 3 day of \ pY 1974 between
the CITY OF ELGIN, Illinois, a home-ruled municipality, hereinafter called
"City", and JOSEPH C. SPIESS COMPANY, an Illinois corporation, its successors
and assigns having its principal office and place of business at 38-52 South
Grove Avenue, Elgin, Kane County, Illinois, hereinafter called "Company";
WHEREAS, City and Company have entered into an Amended Lease dated
January 10, 1974, a copy of which is attached hereto as Exhibit A, hereinafter
called "Lease", and which provides, among other things, that City does therein
lease to Company certain air rights over and above the present level of River-
side Drive and the Riverside Municipal Parking Deck together with certain
spaces on and below the surface of Riverside Drive required to install and
erect foundations and columns to support a parking deck, ramps and appurtenant
structures to be erected over and above said public street and the Riverside
Municipal Parking Deck, all as more fully described in the Lease; and
WHEREAS, Company is required under the terms of the Lease to con-
struct upon the demised property a steel and reinforced concrete parking
structure over and above the present Riverside Municipal Parking Deck and
Riverside Drive covering an area of approximately 100 feet in width and 600
feet in length and appurtenant facilities in accordance with plans and specifi-
cations which are to be prepared by Company and approved by City, hereinafter
called "Company Parking Improvements"; and
WHEREAS, City has determined it to be in its best interests to
enlarge the Company Parking Improvements to be constructed by Company under
the Lease by adding an extension of approximately 100 feet in width and 150
feet in length to the south end, hereinafter called "City Parking Improvements";
and
WHEREAS, the construction of the City Parking Improvements will
require a revision in the south ramp to the Company Parking Improvements; and
WHEREAS, Company does not object to the construction of the City
Parking Improvements and revision of the ramp system provided City shall pay
the entire cost thereof; and
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WHEREAS, City is also required under the Lease to construct certain
improvements to Riverside Drive and to coordinate such work with Company in its
construction of the Company Parking Improvements; and
WHEREAS, Company is required under the Lease to award contracts for
the construction of the Company Parking Improvements no later than 15 days after
City has awarded contracts for the construction of the improvements to Riverside
Drive; and
WHEREAS, in the interest of efficiency the Company Parking Improvements
and City Parking Improvements must be constructed simultaneously; and
WHEREAS, City believes that substantial savings could be effected
to City if City were to supervise and direct the construction of both the
Company Parking Improvements and City Parking Improvements; and
, if City were to supervise such construction, City could
coordinate the construction with its construction of the Riverside Drive
improvements and thereby effect further savings to City; and
WHEREAS, Company is agreeable to allowing City to supervise the
construction of the Company Parking Improvements in accordance with the terms,
provisions and conditions hereinafter set forth;
NOW, TiIERBFORE, City and Company, for and in consideration of the
covenants and mutual agreements contained herein, agree as follows:
1. Company and City hereby enter into a joint venture to construct
and erect the Company Parking Improvements and City Improvements as herein-
before described. City shall undertake to supervise and complete the construc-
tion of all of said improvements; Company Parking Improvements shall be in
accordance with plans and specifications to be approved by both Company and
City, which plans and specifications, when approved, will become a part of
this Agreement as fully as if set forth herein.
2. City shall also supervise and complete the construction of the
City Parking Improvements as hereinbefore described together with the River-
side Drive improvements simultaneously with its construction of the Company
Parking Improvements.
3. City and Company both agree that the said construction of said
Company Parking Improvements in accordance with such plans and specifications
shall constitute full compliance with the obligations imposed upon Company to
construct such a facility under the Lease.
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4. City agrees to cause the commencement of such construction of
the Company Parking Improvements within the time limits provided in the Lease
and to similarly cause the commencement of construction of the City Parking
Improvements and the Riverside Drive improvements, and to cause the completion
of all such work diligently. City shall cause all such work to be completed
prior to February 1, 1975.
5. City and Company agree to employ the architectural firm of
Kaltenbach £; Ferenc of Elgin, Illinois to supervise and oversee the construc-
tion of the Company Parking Improvements and the City Parking Improvements.
Kaltenbach E Ferenc shall, as construction progresses, determine the costs
applicable to the City Parking Improvements and to the Company Parking Improve-
ments and shall furnish and certify to both City and Company a detailed break-
down of such costs. No portion of the cost of the south ramp shall be included
in the Company's Parking Improvements. Kaltenbach & Ferenc's determination of
applicable costs shall be final and binding upon the parties.
6. Company shall pay City from time to time as requested by City
and as construction progresses, and upon receipt of the cost certifications of
Kaltenbach & Ferenc as hereinbefore provided, the monies to cover the cost of
construction of the Company Parking Improvements subject to the following:
(a) In no event shall the Company be liable for the
payment of more than $639,000 to City to cover
the cost of the Company Parking Improvements.
(b) If the cost of such Company Parking Improvements
is ultimately determined to be less than $639,000,
and only in such event, Company shall pay to City
the difference between such sum of $639,000, and
the cost of the Company Parking Improvements, up
to a maximum of $30,000 of additional monies to be
paid City, to be applied by City on the cost of the
City Parking Lnprovements. This amount will be paid
in consideration of the removal of the south
ramp from the Company Parking Improvements and
relocation of it onto the City Parking Improvements
portion of the structure.
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(c) Said monies shall be available to City from
a certain escrow agreement established by
company as provided in its agreement with
City from Company Improvements. Company
shall authorize the withdrawal of said funds
by City as required.
All additional sums required to complete (i) the Company Parking Improvements,
and (ii) the City Parking Improvements in accordance with the said plans and
specifications shall be paid for by the City so that at the time of completion,
the Company Parking Improvements and the City Parking Improvements shall be
free and clear of all liens and encumbrances except for the Company's lease.
7. City and Company shall carry builder's risk and liability
insurance in appropriate amounts during the entire period of construction of
the Company Parking Improvements and the City Parking Improvements and up
until their acceptance by Company, and thereafter as affects losses occurring
within such period. Company shall be named a co-insured on all liability insurance.
Copies of certificates of all such insurance shall be delivered to Company prior
to the performance of any work by City upon the leased property. The costs of
said insurance shall be borne by City and Company equally.
8. Company agrees to deliver to City its present plans and specifica-
tions for the Company Parking Improvements prepared by Kaltenbach & Ferenc.
It is understood that City may revise or amend these plans, but all revisions
or amendments shall be subject to the approval of Company.
9. Within 10 days after the execution of this Agreement, Company
shall assign to City all right, title and interest in and to the following
contracts relative to the construction of the Company Parking Improvements and
the City Parking Improvements:
(a) Agreement between Joseph C. Spiess Company and
Vierling Steel Works dated March 20, 1974 covering
the structural steel, and
(b) Agreement between Joseph C. Spiess Company and
Pileco, a division of Caisson Corporation dated
March 20, 1974 covering the pile foundations.
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Copies of both of the aforesaid contracts are attached hereto as Exhibit B
and C to this contract. City agrees to fully perform each and every obligation
of Company under said contracts.
10. This Agreement shall not be assignable by City without the
written consent of Company.
11. Time is of the essence in this Agreement.
12. The preambles of this Agreement are specifically incorporated
herein as a part hereof, and all exhibits attached hereto are also incorporated
herein as a part hereof as fully as if set forth in full herein.
n
CI OF ELGIN
ATTEST: (
By �a\L
�1
Le I. N lson, ity P ger
JOSEPH C. SPIESS COMPANY, an Illinois
corporation
ATTEST: By '�t -_ `Z--
Its Chairman
Xre'v -
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