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s , <br />TERMS AND CONDITIONS OF DEVELOPMENT PROPOSALING <br />Rights and Duties of Parties Defined. <br />1. The Tri-County Metropolitan Transit Authority ("Tri-Met") has authorized <br />the Gooseholiow Local Development Committee ("Committee") to act in its behalf in <br />negotiating this development _Proposaling. The Committee does not have the power to <br />enter into agreements concerning the Project. The Committee will recommend action on <br />all agreements to Tri-Met. All agreements that are executed and delivered with respect <br />to the Project will be entered into by Tri-Met. <br />The rights, duties, obligations and liabilities of Committee, Tri-Met and the Developer <br />with respect to the purchase and development of land in the project at the Lu Yen site <br />(Project) will be set forth in a Memo of Understanding (MOU) which will be negotiated <br />within 45 days of the date of selection of the highest ranked developer. If such Memo of <br />Understanding is recommended by the Committee and accepted by Tri-Met, such rights, <br />duties, obligations and liabilities will be further defined and incorporated in a Disposition <br />and Development Agreement (DDA) between the Developer and the Tri-Met. <br />~ 2. All facts and opinions stated within this Request for Proposal and in all <br />supporting documents and data, including but not limited to statistical and economic <br />data and projections, are based on available information from a variety of sources. No <br />representation or warranty is made with respect thereto. Developer shall make their <br />own independent investigations concerning all such facts and opinions. <br />SUBMISSION OF DEVELOPMENT PROPOSALS <br />1. Developers shall prepare and submit a cemplete Development Proposal <br />which shall consist of the following Submittal Forms contained in Exhibit _ <br />• Form A- Statement of Qualifications <br />* Form B- Description of Development Concept <br />• Form C- Confidential Statement of Financial Capability <br />• Form D- Special Conditions to Proposal (if applicable) <br />If selected, the Developer will be required to make a Good-Faith Deposit in the <br />amount of S 10,000. The Good-Faith Deposit may be in the form of cash or certified <br />check, faithful performance surety bond, or pledge of negotiable bonds of the federal or <br />state government. The Good-Faith Deposit will be returned to the Developer or retained <br />by Tri-Met in accordance with the terms set forth herein. <br />`" 2. The Developer is encouraged to meet with the designated representative of <br />the Committee prior to submission of development proposals to discuss project details <br />-~PPe~l~lices Pcrge 69 <br />