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Home My WebLink About1990 - Traffic Improvement Agreement - Boeing Employees Credit Union (BECU) - 90032314967..a.:�... DATE V'— 3 o 'ey 01F ORIGINAL FILED TRAFFIC IMPROVEMENT AGREEMENT CO v/ Eh MAR 2 3 South 133rd Street, Interurban Avenue South and SR -599 Director of R' a 1" z Elections Project No. 89 -RW11 Project No. 89 -RW12 THIS AGREEMENT is made and entered into on August 18 1989, between the CITY OF TUKWILA, a Washington municipal corporation (hereinafter referred to as "the City and Boeing Employee's Credit Union. WITNESSETH: WHEREAS, the increased Bedford Gateway development traffic creates a portion of the need for vehicle and pedestrian safety and capacity improvements on Interurban Avenue and South 133rd Street as identified in the July 7, 1989 memorandum to Moira Bradshaw in the Tukwila Planning Department and; WHEREAS, the City and Boeing Employee's Credit Union believe that the design and construction of said improvements will result in a safer and more efficient traffic flow in the area and; WHEREAS, the parties agree that each will benefit from a coordinated design and construction effort and a proportioned sharing of the costs of these projects. NOW, THEREFORE, in consideration of mutual benefits and conditions hereinafter C'n contained, the parties agree as follows: C� 1. DESCRIPTION OF WORK. The work to be performed under this Agreement includes four-projects: A. A traffic signal at the .intersection of South 133rd Street and the SR -599 off ramp; B. A traffic signal at the intersection of Interurban Avenue South and the SR -599 northbound off ramp; C. A traffic signal at the intersection of Interurban Avenue South and the SR -599 northbound on ramp; and D. Improving South 133rd Street by widening with curb, gutter and sidewalk from the intersection of Interurban Avenue South through the SR -599 southbound ramp intersection. RECEIVED SEP 1 2 1989 TUKWILA PUBLIC WORKS -1- The four projects shall be designed, constructed and undertaken generally in accord with the July 7 memorandum to Moira Bradshaw with planning level cost estimates by Bell- Walker Engineers. The estimated cost for the above work is $688,871. Said costs include those for design, construction, administration, and 10% contingency costs. Any one, four, or any combination of same can be designed and construction started during the next 7 years. 2. DESIGN AND APPROVAL OF THE WORK. The City shall engineer and design the work. The cost for such engineering and design shall be borne by the parties in the same ratios as the overall cost for the work. 3. CONSTRUCTION FUNDING. A. Base project costs and fair share. 1. Boeing Employee's Credit Union shall pay $19,346 which is calculated as 16% of the $124,019 estimated cost for the traffic signal on the southbound off ramp at South 133rd Street and SR -599. 2. $13,330 which is calculated as 14% of the $94,946 estimated cost of a traffic signal at the intersection of Interurban Avenue South and the SR -599 northbound off ramp. 3. $10,611 which is calculated as 9% of the $113,361 estimated cost of a traffic signal at the intersection of Interurban Avenue South and the SR -599 northbound on ramp. 4. $81,377 which is calculated as 24% of the $336,545 estimated cost of the curb, gutter, sidewalk from the intersection of Interurban Avenue South through the SR -599 southbound off ramp intersection. B. The City will pay or arrange for the payment of the remaining costs for the above four items or work. C. Payment by Boeing Employee's Credit Union shall be made into an escrow account pursuant to an escrow agreement which shall instruct the escrow agent to disburse monies for work performed in accordance with directions from the City. Boeing Employee's Credit Union shall make its deposits for each individual project within 30 days of receiving the written notice from the City; the written notice which shall be sent no earlier than the time of each individual (or combination) project advertisement for bid. 2 D. In the event the bid(s) of the lowest responsible bidder(s) for any of the four items of work exceed by 10% or less the estimated cost, Boeing Employee's Credit Union agrees to pay the same percentage of said excess costs as the percentage it is paying for each of the four items and shall make the deposit within 30 days of receipt of written notice. The City shall pay or arrange for payment of the balance of such excess costs. E. The base project costs and corresponding fair share shall be adjusted using the Engineering News Record cost index at the beginning of each year starting January 1991. The base to be used is January 1990. F. If design and construction costs are less than the estimated costs, any remaining escrow account balance will be repaid to Boeing Employee's Credit Union upon completion of the work. G. This Agreement shall terminate in respect to any of the four projects which have not been awarded by September 1, 1996. H. All unused deposits made by Boeing Employee's Credit Union shall be refunded to Boeing Employee's Credit Union not later than 5 years after the deposit is made persuant RCW 82.02 unless earlier refund is required by this agreement. 4. NO WAIVER OF RIGHTS. Failure of any party to insist on the strict performance of any of the terms of this Agreement shall not be construed as a waiver or relinquishment of that party's rights thereafter to strictly enforce any such term, but the same shall continue in full force and effect. 5. BINDING AGREEMENT. This agreement shall be binding upon the parties, their respective heirs, legal representatives, assignees, transferees, and successors. 6. RECORDING. This Agreement shall be recorded with the King County Auditor and the cost of said recording shall be paid by Boeing Employee's Credit Union. This agreement shall effect and relate to that certain real property in King County owned by Boeing Employee's Credit Union and more particularly described as follows: 3 All that certain real property situate in the City of Tukwila, County of King, State of Washington, being a portion of Lot 7 as shown on the Plat of Gateway Corporate Center, recorded Volume 144 of Plats, pages 23 -25, under Recording Number 8901230879, records of King County, Washington, and being more particularly described as follows: BEGINNING at the most easterly corner of said Lot 7; thence from said POINT OF BEGINNING, along the boundary line of said Lot 7, 541 "W 424.58 feet; thence from a tangent that bears N28 "E, along the arc of a curve to the left having a radius of 180.50 feet and a central angle of 76 an arc length of 240.43 feet; thence tangent to the preceding course along the arc of a curve to the left having a radius of 180.50 feet and a central angle of 46 an arc length of 145.86 feet; thence leaving the boundary line of said Lot 7, N04 11 W 41.60 feet; thence N41 11 E 362.06 feet; thence N48 11 W 31.00 feet; thence N16 "E 333.84 feet; to the bank of the Duwamish River, at the mean high water line as shown on said plat, thence along said bank of the Duwamish River, easterly and southerly to the POINT OF BEGINNING. Contains 350,666 square feet (8.05 acres) of land more or less. 7. LITIGATION. In the event that either party shall commence litigation against the other in order to enforce any term or condition of this Agreement, the prevailing party in such litigation shall be entitled to recover its costs, including reasonable attorney fees. S. ENTIRE AGREEMENTS. This Agreement contains the entire understanding among the parties hereto, and except as expressly provided herein no other agreement, oral or otherwise, regarding the subject matter of this Agreement shall be deemed to exist or to bind any of the parties hereto or to have any other force or effect. CITY OF TUKWILA BOEING EMPLOYEE'S CREDIT UNION BY: E Van Dusen Rty y or 'L' f W. Jim Roller, Senior Vice President for Boeing Employees' Credit Union, signing for Gary Oakland, August 18, 1989. 4 ACKNOWLEDGEMENTS STATE OF WASHINGTON ss. COUNTY OF KING I certify that there appeared before me a person that I know or have satisfactory evidence was GARY VAN DUSEN, who signed this TRAFFIC IMPROVEMENT AGREEMENT, on oath stated that he is authorized to execute the instrument and acknowledged it as the MAYOR of the CITY OF TUKWILA to be the free and voluntary act of such party for the uses and purposes mentioned in this instrument. DATE D:'�� STATE OF WASHINGTON ss. COUNTY OF KING 1989 Notary Pub is in and for the State of Washington Residing at My appointment expires a? //9 Z I certify that there app. r e d before me a person that I know or have Jim Roller satisfactory evidence was GAW= *AKt -7AND, who signed this TRAFFIC IMPROVEMENT AGREEMENT, on oat E St�$t- ec� he is authorized to execute the instrument and CE acknowledged it asA the PRESIDENT of BOEING EMPLOYEE'S CREDIT UNION to be the free and voluntary act of such party for the uses and purposes mentioned in this instrument. l 1989 r DATED: Notary�u Washinaton (Ai' Q, State of Residing at A 4vil My appointment expires ;1:5 5