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M Underground Transmission Agrm UNDERGROUND ELECTRIC TRANSMISSION FACILITIES AGREEMENT TillS AGREEMENT, made and entered into this day of 1998, by and between the City of Miami Beach (hereinafter the "City") and Florida Power & Light Company, a Florida corporation, with its principal of business in Dade and Palm Beach Counties, Florida (hereinafter "FPL"). WHEREAS, FPL has proposed to construct an overhead electric transmission line between the 40th Street and Venetian Substations, and the City made a request that the electric transmission line be installed underground; and WHEREAS, FPL will incur costs in the underground installation, which costs would not have occurred but for the City's request; and WHEREAS, the CITY has agreed to pay for the additional costs incurred by FPL to install an electric transmission line underground; NOW THEREFORE, in consideration of the mutual promises of the City and FPL and other good and valuable consideration, the Parties agree as follows: ARTICLE 1 DEFINITIONS 1.1 Definitions. For the purposes of this Agreement the following terms, whether used in the singular or plural, shall have the meanings set forth below when used with initial capitalization: 1.1.1 Contribution-In-Aid-Of-Construction (CIAC). The CIAC to be paid by the City under this section shall be determined according to the following formula: CIAC=UG-OR Where UG is the estimated cost to install the FPL Transmission Line underground and OR is the estimated cost to install the FPL Transmission Line overhead. 1.1.2 FPL's Transmission Line. FPL transmission line shall be that portion of FPL's electric transmission line running between the 40TH Street Substation and Venetian Substation which is to be installed underground and appurtenant equipment. 1 ARTICLE 11 SCOPE OF WORK FPL agrees to install the FPL Transmission Line underground in the City of Miami Beach. The City agrees to pay FPL for the CIAC as defined in Section 1.1.1 hereof ARTICLE ITI RIGHT-OF-WAY (EASEMENT) 3.1 Easements and Permits. As a condition precedent for the underground installation of the FPL Transmission Line, FPL shall obtain all easements and all federal, state or local permits which may be necessary for such installation. The City agrees that it will assist FPL, upon FPL's request, in FPL's processing of the necessary remaining permits required for the construction of this FPL Transmission from the State of Florida, Miami- Dade County and other permitting authorities. The City shall grant to FPL an easement under the terms described in Section 26 of City Resolution No. 3.2 Location. The location of the aforesaid underground portion of the FPL Transmission Line is shown on the attached map as generally set forth in Exhibit A, attached hereto. ARTICLE IV COST ESTIMATES. CREDITS AND BILLING 4.1 Full Cost. The City shall pay FPL the full CIAC. 4.2 CIAC Estimates. The estimated CIAC to install the FPL Transmission Line underground is $ 3.986.059.00. The City understands and agrees that the CIAC is an estimate only. The City shall be responsible for the CIAC, provided however, the cost to the City of the CIAC shall not exceed the estimate, except as provided below. 4.3 Scope of Work Changes: Re-estimates. 4.3.1 The City shall be responsible for fifty percent (50%) of any increased cost due to unknown or unforeseen physical conditions at the site which differ materially from those originally projected. 4.3.2 Pre-construction. If the construction of the underground installation of the FPL Transmission Line has not commenced and if the scope of work (underground installation) has been changed, the estimate is invalid and a new estimate is required. FPL shall provide a re-estimate of the work prior to 2 commencement of the underground installation by FPL and the City may elect to pay the re-estimate cost. 4.3.3 After Start Of Construction. If after the start Of Construction, the City requests a change in the scope of work (underground installation) of the FPL Transmission Line and, in the sole discretion of FPL, FPL determines to make that change, and such change causes the CIAC of the project to change, the City shall be responsible for any such increase in cost and the City shall be credited for any such decrease in cost. 4.4 Billing and Payment. With respect to the CIAC amount shown in Section 4.2 of the Agreement, the City shall make payments to FPL according to the terms of a Promissory Note executed between the City and FPL. In order to facilitate the restoration of the landscaping and irrigation systems on the Bayshore Golf Course impacted by FPL' s activities associated with the installation and construction of the underground transmission line along the proposed route, FPL will provide additional financing to the City in the amount of $333,778.00. This financed amount for the restoration shall be included in the total CIAC to be paid to FPL by the City pursuant to the terms of the Promissory note executed between FPL and the City. At the City's request $6,000.00 has also been included in the total CIAC to be paid to FPL in order to cover the bond counsel fees. ARTICLE V FORCE MAJEURE 5.1 Force Maieure. Neither FPL nor the City shall be liable or responsible for any delay in the performance of, or the ability to perform, any duty or obligation required by this Agreement in the event of a force majeure occurrence. The obligation to pay money in a timely manner is absolute and shall not be subject to the force majeure provisions. Force majeure, as used herein, shall include but is not limited to acts of civil or military authority (including courts or administrative agencies), acts of God, war, riot, or insurrection, inability to obtain required permits or licenses, blockades, embargoes, sabotage, epidemics, fires, unusually severe floods or either strikes, lockouts or other labor disputes or difficulties. . 5.2 Force Maieure Notice. In the event of any delay or non-performance caused by a force majeure occurrence, the Party affected shall promptly notify the other in writing of the nature, cause, date of commencement thereof, and the anticipated extent of such delay, and shall indicate whether it is anticipated that the completion dates would be affected thereby. ARTICLE VI 3 NOTICE 6.0 Notice. All notices to either Party by the other shall be made in writing and addressed as follows: To the City of Miami Beach: City Manager City of Miami Beach 1700 Convention Center Drive Miami Beach, FL 33139 With Copies to: City Attorney City of Miami Beach 1700 Convention Center Drive Miami Beach, FL 33139 To FPL: Barbara Jaindl Florida Power & Light Company Post Office Box 14000 Juno Beach, Florida 33408-0420 With Copies to: Manny 1. Rodriguez Florida Power & Light Company Post Office Box 029100 Miami, FL 33102-9100 4 ARTICLE vn COMPLETE AGREEMENT 7.0 Complete Agreement. This agreement signed by the authorized representative of both Parties constitutes the final written expression of all the terms between the Parties and is a complete and exclusive statement of those terms and no amendment or modification or waiver of any provision hereof shall be effective unless set forth in writing authorized and executed by authorized representatives of the Parties. IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly authorized officer or representatives effective as of the date first above written. CITY OF MIAMI BEACH FLORIDA POWER & LIGHT By: flk By: Niesen Kasdin, Mayor Antonio Rodriguez Vice-President Power Delivery Post Office Box 14000 Juno Beach, FL 33408-0420 Attest: ~d fCU(k Robert Parcher, City Clerk APPROVED AS TO FORM & LANGUAGE & FOR EXECUTION $~ t20 -y? APPROVED AS TO FORM AND LEGAL SUFFICIENCY 5