Major Lease-Leaseback Construction for Davis High Fields
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Description
Modesto City Schools has awarded a Facilities Lease to a developer (to be selected) for the Grace M. Davis High School Baseball and Softball Fields Project. The contract covers preconstruction and full construction services, with costs not to exceed the Guaranteed Maximum Price as defined in contract exhibits, and includes a leaseback term post-completion.
Contract Details
Contract Amount
Not to exceed [AMOUNT IN WORDS] DOLLARS ($[AMOUNT IN NUMBERS]) for preconstruction services; then within GMP (Guaranteed Maximum Price) as specified in Exhibit C
Vendor
[NAME OF DEVELOPER]
Agency
Modesto City Elementary, CA
Contract Type
CONSTRUCTION
Document Date
October 28, 2024
Contract Term
Term commences upon delivery of completed Project; lease term approximately 1 year after acceptance, as memorialized in Exhibit E. Construction phase: [days in words] ([days in numbers]) calendar days; see Exhibits C and E for exact timelines.
Renewal Info
Preconstruction phase terminable by District on 14-day notice. Lease back term may extend up to one year post-completion as memorialized in Exhibit E; subject to earlier termination, damage, eminent domain, or District purchase option provisions. Status and terms may be amended by written agreement. See Sections 4, 10, and 22 for extension, assignment, and termination conditions.
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