Exhibit 10.3
PLANNING MANAGEMENT SERVICES AGREEMENT
THIS CONSTRUCTION MANAGEMENT SERVICES AGREEMENT (this " Agreement" ) is made and entered into as of this 15 TH day of June, 2007 to be effective as of June 15 th , 2007 (the " Effective Date" ) by and between Theriac Enterprises of Lakewood Ranch, LLC, a limited liability company (" Owner" ) and Devoto Construction of Southwest Florida, Inc. , a Florida corporation (" Devoto" ).
RECITALS:
A. Owner is the owner of that certain real property located at Town Center Parkway, Lakewood Ranch, Florida (the " Property" ).
B. Devoto is a wholly owned subsidiary of Radiation Therapy Services, Inc., a Florida corporation (" RTSI" ), a developer and operator of radiation therapy centers. C. Owner desires to develop the Property as a radiation therapy center meeting the standards and requirements of RTSI for a radiation therapy center under its 21 st Century Oncology flagship brand (the " Project" ) and requires construction management services to ensure completion of the Project.
D. Devoto has expertise in providing construction management services.
E. Owner desires to retain Devoto to oversee construction of the Project, act as a liaison between Owner and all architects, engineers, contractors, suppliers and government agencies and provide Owner with construction management services regarding the Project as herein provided.
NOW THEREFORE, in consideration of the foregoing and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: SECTION 1
CONSTRUCTION MANAGEMENT
1.1 Construction Manager . Owner does hereby employ Devoto as its sole and exclusive construction manager for the Project. Devoto shall oversee construction of the Project, act as a liaison between Owner and all architects, engineers, contractors, suppliers and government agencies regarding the Project and provide construction management services including ensuring qualified engineers, architects, contractors and suppliers are used, monitoring construction schedules, on-site construction inspection, monitor compliance with plans and specifications, review change orders, contract administration, providing Owner with status updates and such other management services related to the Project as is reasonably necessary to ensure completion of the Project (the " Services" ).
1.2 Management Fee . Owner shall pay to Devoto a management fee equal to 23.5% of the cost of the Project which shall be payable in [Monthly] installments during the process of the Project. Devoto' s fees for its Services shall be invoiced to Owner and shall be payable by Owner to Devoto within thirty (30) days of the date of the invoice. Invoices not paid within such thirty (30) day time period shall bear interest at the lesser of eighteen percent (18%) or the maximum contract rate of interest allowable by law. 1.3 Indemnity . Ow ...
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