The Framework Agreement establishes general terms and a phased process under which AKD may provide certain development services if and when authorized through individually executed work orders (each, a "Work Order"). The Framework Agreement does not obligate Singularity to issue any Work Order or to proceed with the Project beyond initial feasibility work.

Potential Scope of Development Services

Under the Framework Agreement, AKD may be engaged to provide development-management services across certain workstreams, including site due diligence, utility interconnection coordination, substation engineering, procurement support, construction oversight, commissioning support and project closeout. No services are authorized unless and until a separate Work Order is executed for the applicable phase. Singularity is not obligated to engage AKD for all or any portion of the Project, and AKD has no exclusivity.

Five Gated Phases Preserve Owner Control

The Framework Agreement contemplates five development phases: (0) feasibility and due diligence; (1) utility and concept design; (2) design and procurement; (3) construction and enabling works; and (4) testing and closeout. Each phase requires an executed Work Order before any work may begin. Subject to the terms of the Framework Agreement and any applicable Work Order, Singularity may stop, pause, revise or reassign any subsequent phase without liability beyond amounts properly earned under an executed Work Order.

Clear Scope and Risk Allocation

The Framework Agreement also defines the current scope boundaries for AKD’s potential services. Data-center building shell construction, IT and compute-hardware procurement, land acquisition and post-completion facility operations are outside the present scope unless separately authorized through a Work Order. The Framework Agreement includes provisions addressing change-order control, insurance and indemnification, intellectual-property ownership, confidentiality and dispute resolution.

Phase 0 May Begin with Technical and Investment Decision Support

Subject to the execution of an initial Work Order, Phase 0 is expected to include feasibility and due-diligence work, including site-risk evaluation, utility-interconnection feasibility analysis, preliminary cost assessment and go/no-go recommendations. The results of Phase 0 are intended to inform Singularity’s decisions regarding whether to authorize subsequent phases.

"The Framework Agreement provides a structured approach for assessing the feasibility of the Florence project. The initial priority is to conduct a thorough technical assessment and power-infrastructure analysis so that any subsequent investment decisions can be informed by defined deliverables," said Tie Deng, Senior Project Manager at AKD Development Inc.

Important Project Status

The Framework Agreement establishes general terms and a process for potential development services. It does not, by itself, constitute authorization to commence construction, equipment purchases, utility commitments or other material expenditures, commitment to complete the Project, or a guarantee that any Work Order will be issued. Actual development and any related capital expenditure remain subject to, among other matters, satisfactory due-diligence results, utility approvals, governmental permits, financing arrangements, the execution of applicable Work Orders and approval by Singularity’s board of directors as required.