Fiscal Note
Private contract; no funds required.
Title
Approving Addendum No. 1 to the Traffic Signal Operation and Maintenance Agreement for Frey Street and Segoe Road Intersection. (11th AD)
Body
WHEREAS, on October 1, 2007, the developer, HD Annex LLC, signed a Traffic Signal Operation and Maintenance Agreement for Frey Street and Segoe Road Intersection with the City of Madison; and
WHEREAS, upon the Developer's request, the assumption of liability for Said Agreement shall be transferred to Target Corporation; and
WHEREAS, Addendum No. 1 shall require an assignment and assumption of Said Agreement obligations.
NOW, THEREFORE, BE IT RESOLVED, that the Mayor and City Clerk are hereby authorized and directed to execute Addendum No. 1 for Traffic Signal Operation and Maintenance Agreement for Frey Street and Segoe Road Intersection to allow for the Developer to transfer liability of Said Agreement from HD Annex LLC to Target Corporation.