The Joint Road Sample Clauses

The Joint Road. As a material part of the consideration resulting in the division and allocation of the parcels being allocated to IMMC herein, the Venturers agree that a road through the Milco and IMMC parcels and related facilities will be necessary for the development of both the Milco and IMMC parcels, but that the location and size of the road will largely be driven by IMMC’s greater requirements. The proposed location of this road is approximately shown on Exhibit “A” attached hereto (the “Road”). Therefore, the Venturers agree to the following with respect to the Road: (a) Milco agrees that the Joint Venture shall reserve for the benefit of IMMC all necessary rights and dedications for the construction of the Road and related facilities through the Milco Parcels as part of the transfer to Milco. Such Road shall be of sufficient size, alignment and design to meet all City of Grass Valley requirements for acceptance as a City street and connector. (b) IMMC agrees to pay all basic costs and expenses related to the design, engineering and construction of the Road, even though it will also provide access to the Milco Parcels. This includes widening Idaho Maryland Road to provide a left turn pocket and other traffic controls if required. Provided however, that Milco will pay for any special features and facilities beyond the basic road such as utilities, curb cuts, lighting, signage, bus shelters, storm drains etc, or portions thereof reasonably required for Milco’s development. Notwithstanding the forgoing, costs arising out of or related to storm drains needed where the road crosses natural drainage in the Milco Parcels shall be considered as a basic cost of the Road. (c) The Venturers agree that the desired location of the Road shall be as close as feasible to that shown on Exhibit A, understanding that the City has not considered the proposal. Venturers agree to use their best efforts to persuade the City to accept the agreed road alignment. (d) Commencement of the Road design will begin within ninety (90) of the execution of this Agreement. The selection and award of work to design professionals, engineers and contractors used for the construction of the Road shall be IMMC’s responsibility and Milco will be included in the selection process. IMMC will submit to Milco for its final review and approval the final recommendation for selected contractors and Milco will have up to 10 business days to review and approve. Approval of final selection of contractors will be m...
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Related to The Joint Road

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