02/10/2020 BOARD OF SELECTMEN Agenda Packet

Home Browse Search

1.3 Develo er Rijzht of Entr Town grants to Developer, its agents, employees, subcontractors, and their agents and employees, a license to enter onto the Property for the purpose of investigating site conditions including, without limitation, surveying, conducting soil tests or borings, and conducting other investigations or engineering tests. Any such entry shall be done at Developer's sole cost and expense, and at Developer's sole risk. Developer agrees to indemnify, defend, and hold harmless Town and its employees and agents, from and against any cost, expense, claim or liability arising from any such entry onto the Property by Developer, its agents, employees or subcontractors. Developer shall cause its hazard and liability insurance coverages to include the Town, its employees and agents, as additional insureds for claims caused in whole or in part by the Developer's negligent acts or omissions . during the Developer's investigation of site conditions including, without limitation, surveying, conducting soil tests or borings, and conducting other investigations or engineering tests. Developer agrees that it shall conduct all such tests and investigations in a manner which will cause as little damage as possible to the Property, and in the event of any such damage, shall promptly repair and restore the same at its sole cost and expense. Developer agrees further that all such tests and investigations will be conducted in compliance with all applicable laws and regulations, with due respect for the privacy and safety of residents of the Property, and consistent with any applicable notice provisions of Town's leases with residents of the Property. 1.4 Developer Fee and Overhead. Developer shall be entitled to receive a developer fee and reimbursement for developer overhead in connection with the Project in such amounts and paid on such schedules as approved by the Department of Housing and Community Development. In no event shall payment of any part of such amounts be an obligation of Town. 1.5 Property Propegy Management of Cony leted Pro'ect. An affiliate of PDAH, POAH Communities LLC (the "Mana er"), shall be the property manager of the completed Project. The Project owner and the Manager shall enter into a standard form residential management agreement, including standard performance and termination provisions, for an initial term of one (1) year. Town aclmowledges that the parties providing Project financing may require a specific form of management agreement, and if such a form is not required, the Manager and Proj ect Owner would use a form that is standard for Manager. 1.6 Town CPA Project Financier. Town shall support the Developer's request to secure a grant of$300,000 for the Project, which grant shall be funded through Community Preservation Act funds. Article 2. De...velopment of Project Affordability; Term of Agreement. ir... �/� ■ 2.1 The Project. Subject to the Requirements (defined below), Developer shall have responsibility for all aspects of the design, development, construction and operation of the Project. 2.2 Affordability. All of the dwelling units at the Project shall be affordable to households earning So% of or less of the median family income for the Town of Barnstable Standard Metropolitan Statistical Area, adjusted for family size. Developer shall endeavor, to the greatest extent feasible, to develop a unit mix consistent with the proposed unit mix summarized in the chart on Page 22 of its Proposal, which' is attached as Exhibit A and incorporated herein by reference, and otherwise in accordance with DHCD's Qualified Allocation Plan, lender and investor requirements and in accordance with all applicable state and local laws, 2.3 Development Costs. It is understood and agreed,that Developer shall receive the Project Site in an "as is" condition and shall bear all costs associated with the Project as contemplated hereunder. Town will pay its own legal fees in connection with preparation and negotiation of this Agreement and the Ground Lease. K.H 557741.1 2