NYC 9/11 Public Portal Document
credit-against the rent "equal to the amount the total Tenant Work Cost is less than
($ ). If the Tenant Work Cost exceeds ($ any balance up to a
maximum of ($ ) will be paid by Tenant. If the Tenant Work Cost exceeds ($}
DRES shall promptly meet with Landlord to resolve the overage.]
Notwithstanding the foregoing, the Tenant Work Cost may be further modified at a
later date by Tenant requesting changes beyond the Final Plans, provided that with respect to such
cliangeS'TenaiU and Landlord shall have agreed as to nature, amount and cost thereof.
DRES may, within fifteen (15) business days of its receipt of Landlord's notice of the^^
T^aftt Work Cost, approve or disapprove of the T-enarrt Work Cost. If DRES disapproves, it \
will meet with Landlord within five (5) business days to determine an agreed upon cost. As part
of that process DRES will meet with the lowest bidder to resolve any discrepancies in unit prices
and quantities. In the event Landlord and DCAS are unable to resolve their differences and agree
upon the Tenant’s Work cost items, Landlord shall solicit bids from at least three (3) new general
contractors designated by DCAS in which case the procedures and time frames with respect to the
bids shall apply to such additional bids and bidders. Within five (5) business days from approval
of the Tenant’s Work Cost and prior to commencing construction, Landlord will submit a copy of /
the Building Permit to DRES.
Landlord hereby warrants and fepresentslhat it has the financial capability and/Q^
adequate financing to complete the Work in the time frames set forth herein. In that connection,
within seven (7) days of Tenant's approval of the Tenant’s Work Cost, Landlord shall deliver to
Tenant (a) a binding commitment for construction financing from an institutional lender in an
amount sufficient to complete the Work or (b) such other evidence and assurances satisfactory to
T^ant of Landlord's financial capability to complete the Work. Landlord's misrepresentation
NYC-WTC_000170272
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