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Home My WebLink AboutEC15-178 - Amendment - #2 - Jones Lang LaSalle - Riverbend Real Estate & Consulting Services - 01/08/2016 Records e , Document W p511NdTON � - CONTRACT COVER SHEET This is to be completed by the Contract Manager prior to submission to City Clerks Office. All portions are to be completed. If you have questions, please contact City Clerk': Office. 0/endor Ndame. tCA'y" 4 LC��v � Je Vendor Number- JD Edwards Number Contract Number. This is assigned by City Clerk's Office Project Nlame. Jd 1C{ V k i_.P Description. Q Interlocal Agreement ❑ Change Order ❑ Amendment ❑ Contract O,Other: ;T;'v`Y)1y- cftylkAlt No. Contract Effective Date; 2 Termination Date. Ic l tp Contract Renewal Notice (Days). Number of days required notice for termination or renewal or amendment Contract ivdanager. 7. Atliiird'VV-t Department. Contract Amount. Z1110 CAI--c 17V?C._f' Approval Authority. ❑ Department Director V(Mayor I40ty Council 1 zwi; Detail. (i.e. address, location, parcel number, tax id, etc.). Ali adccW10877 8 14 KE e T AMENDMENT NO. 2 NAME OF CONSULTANT OR VENDOR: Jones, Lang, Lasalle QLL) CONTRACT NAME & PROJECT NUMBER: Riverbend Real Estate & Consulting Service ORIGINAL AGREEMENT DATE: 5/14/15 This Amendment is made between the City and the above-referenced Consultant or Vendor and amends the original Agreement and all prior Amendments. All other provisions of the original Agreement or prior Amendments not inconsistent with this Amendment shall remain in full force and effect. For valuable consideration and by mutual consent of the parties, Consultant or Vendor's work is modified as follows: 1. Section I of the Agreement, entitled "Description of Work," is hereby modified to add additional work or revise existing work as follows: In addition to work required under the original Agreement and any prior Amendments, the Consultant or Vendor shall complete the work described in the Amended Scope of Work, attached. 2. The contract amount and time for performance provisions of Section II "Time of Completion," and Section III, "Compensation," are modified as follows: Original Contract Sum, $24,750.00 including applicable WSST Net Change by Previous Amendments $0.00 including applicable WSST Current Contract Amount $24,750.00 including all previous amendments Current Amendment Sum $ 2% of sale price subject to terms of vAmended Scope of Work Applicable WSST Tax on this $0.00 Amendment Revised Contract Sum $24,750 plus 2% of the sale price subject to terms of Amended Scope of Work i Original Time for Completion 12/31/2014 (insert date) Revised Time for Completion under 12/31/2015 prior Amendments (insert date) Add'I Days Required (t) for this 365 calendar days Amendment Revised Time for Completion 12/31/2016 AMENDMENT - 1 OF 2 (insert date) The Consultant or Vendor accepts all requirements of this Amendment by signing below, by its signature waives any protest or claim it may have regarding this Amendment, and acknowledges and accepts that this Amendment constitutes full payment and final settlement of all claims of any kind or nature arising from or connected with any work either covered or affected by this Amendment, including, without limitation, claims related to contract time, contract acceleration, onsite or home office overhead, or lost profits. This Amendment, unless otherwise provided, does not relieve the Consultant or Vendor from strict compliance with the guarantee and warranty provisions of the original Agreement. All acts consistent with the authority of the Agreement, previous Amendments (if any), and this Amendment, prior to the effective date of this Amendment, are hereby ratified and affirmed, and the terms of the Agreement, previous Amendments (if any), and this Amendment shall be deemed to have applied. The parties whose names appear below swear under penalty of perjury that they are authorized to enter into this Amendment, which is binding on the parties of this contract. IN WITNESS, the parties below have executed this Amendment, which will become effective on the last date written below. I CONSULTANT/VENDOR: CITY OF KENT: e / Z By: _�_'._� Bye r> sf gnare) 1111 / }} (signature) Print Name: a�sg_ T i��✓� Print laamd: Suzette Cooke Its �� r 17 r a Its a or (rirre) (tile), ATE: ,fd� DATE: I� 1 i APPROVED AS TO FORM: .(applicable if Mayor's signature required) Kerit Law Department I AMENDMENT - 2 OF 2 T 601 e, Suite 1100 )0) \,Y■ Seattle,W WA 99101 LL tel+1 206 607 1754 Jones Lang LaSalle REVISED SCOPE OF WORK ` (EFFECTIVE NOVEMBER 02,2015) REAL ESTATE BROKERAGE SERVICES FOR-THE DISPOSITION OF THE RIVERBEND SITE In addition to all other elements and tasks to the scope of work previously agreed to in the original Consultant Services Agreement and Amendment No. 1 to that agreement, JLL will represent the City in the disposition of the Riverbend site for the uses approved by the City Council for the period commencing November 02, 2015, and ending December 31s12016. The brokers assigned to the disposition assignment will include market specialists for the approved uses(multi-family, retail, office, etc.). Services will include, at a minimum, the following: • Providing the City with recommendations about any additional site due diligence that may be required or recommended in advance of initiating a solicitation process. • Developing all marketing materials and solicitation materials, subject to the city's prior approval. • Broadly marketing the product locally and regionally to appropriate investors • Supporting the City in the solicitation and selection process and in reports to the Council and Mayor. • Supporting the City in negotiations with the selected developmenvinvestor. Brokerage Services Compensation In consideration of this revised Scope of Work, JLL will represent the City in the disposition of the Riverbend site for a commission rate of two percent (2%) of the sales price, to be paid upon closing. In the event JLL brings forward a qualified buyer who agrees to the City's established performance requirements, terms, conditions, and approved uses during the period this Revised Scope of Work is in effect and the City fails to approve the transaction with the buyer, JLL will be entitled a one-time breakup fee of$75,000, which, upon payment will constitute JLL's full and final settlement, acceptance, and release of all claims of any kind related to JLL's representation of the City on the Riverbend project. This fee is contingent on the following assumptions: • JLL will perform a local zoning analysis, but assumes the City will provide all available site information including title, environmental, utilities and geotechnical. JLL/City of Kent Riverbend Revised Scope of WorkPage 2 • JLL will perform one site massing study. • JLL will provide staff support to an advisory committee Mayor and Council may appoint to assist the City in reviewing and selecting offers for final consideration by the Mayor and City Council. • JLL will provide at least two (2) presentations to City staff and/or potential Advisory Committee and one (1) preliminary presentation to City Council and Mayor and one (1) final presentation to the City Council and Mayor. Tasks necessarily attendant to this revised scope of work that would be performed in the ordinary course of business are included. Additional tasks, time, or costs will not be approved or paid unless JLL first receives the City's prior written authorization. it REQUEST FOR MAYOR'S SIGNATURE T Please Fill in All Applicable Boxes W- --H Originator: r; ' a{- Phone (Originator): U} Date Sent: 1 I j , Date of Council Approval: Gl1 <r11 Return �q Date of Approval from Finance: ,fytr Signed Document to:" u � la v-t-k.4,t�✓na - (Only required on contracts $10,000 &over or on any Grant Agreements) Date Required: ,t,_ d� Date of A provaI from Risk Manager: '- Vendor Name: Budgeted: YES NO ❑ E UrBudget Fund: c _( Brief Explanation of Document: r All Ff f r/i`t F"Yt & ;;"`"t'r`vi.t�"s - - .ta �e'v: . U;�, - <'G2t.<_.c.�" `�`t �}J e`�"✓ w All Contracts Must Be Routed Through The Law Department (This area to be completed by the Law Department) i Received: Law Department Approved as to Form`:' Law Dept. Comments: - � Date Forwarded to Mayor: t r j I fl j Shaded Areas To Be Completed By Administration Staff Received: Recommendations and Comments � J k Date Returned: Pecwrrwm.momam r,=:.,mss=mx snFn ra uwr:sis.we e« .