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Page 2 of 2 -----Original Message----- From: ROYER Russ C Sent: Monday, January 26, 200411:52 AM To: HAMLIN Peggy D Subject: FUV: Huling Hi Peggy, you are correct that the contract. reads after the first $100,000 partial payment the remaining balance was to be paid in one final check. The City was to review the final accounting of the project expenses within 7 days of when the seller's submitted the final costs. Then the payment was to be within 14 days of the approval by the City -the intent was for payment to be made within 21 days. However, we have an area we are not yet in agreement on. The agreement did not address time limits resulting from not acceptable amounts. The total project expense billed was about $500,000 of which half would be city- - about $250,000. We previously paid $100,000, leaving about $150,000 payable by the City. The discrepancy we are working on may result in reducing the amount payable by the City by $16,000 to more like $134,000. There have been many delays on this project -not from the acquisition end, but through the planning and platting processes and neighborhood o osition. While the written a Pp reement Ives us 9 g time after acceptance of the accounting, I didn't know if we have any flexibility regarding being able to submit this additional payment in the spirit of good faith?? I told Ty Huling I would check. Thanks. Russ j extension 5264. -----Original Message------ From: BARNTS Vickie L Sent: Monday, January 26, 2004 10:48 AM To: ROYER Russ C Subject: Huyling Russ, Peggy Hamlin just called to say the way she reads the contract with Ty, we were to make one payment of $100,000 and the balance after receipt of costs, within 14 days of acceptance by the City. Therefore, we cannot advance any more. funds until the final accounting. vckie l t - 1/27/2004