Resolution 2011-63 - Needs Fully Executed Agreement

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Section 3„ Tecni Tins contract shall be effective, upon approval of the State Controller or designee, or on the date.rnanc, whichever is-later. The term this contract shall continue through the comphaina. and final itee‘,Thine&sir the Project hy the State, FHWA and the Local Agelley, Scion 1. .PrOject. Funding Provisions A, The teical Agency has estimated. the total eeSi Of the Project and is prepared t ace,ept the state airoing fbr the Work, as infidel-1=1 by an appropriate ordinance or resolution duly passed and adopted by the .autliorized representatives of the Loral AgeneY,: which expressly atithorizes the Local Agency to entcrintothis cotcra io complete the. Nvork, under the projeet, A copy of this ordinanee or rcitolution is attached hereto and ateorponded herein as Exhibit 113, 13. The Local Agency has estimated the total cost of the project to be $575A100,00, which is further described in Exhibit C. C. The maximum amount payable to the Local Agency under this contract shall be S575.00000, unless such amount is increased by an appropriate NVritiefl mothfiti011 to this contract executed before any intreased cost is incurred. It is understood and agreed by the parties hereto that the total cost of thc work stated hereinhefore is the best estimate available, bused on the design data as approvcx1 a! the time of execution of this contract. mid that such cost is subject to revisions (in accord with the proeedurc in the provious sentenee) agreeable to the parties prior to bid and award. 11 The parties herd° agree that ibis onntract is contingent upon all funds designated for the Work herein being made available hour state sources, as applicable Should these soorees fail to prrivnie licoo.ssary funds as agrmil upon herein, the cnntract may be terminated by either party, provided that any party terininating its interest and obligations betela shall not be relieved of any obligations which existed prior to the effective date of such tailIthation or which may occur as •a reStilhof such torminatioth Section 5. Project 'Payment PrevLkians A The State will reimburse the Ikea, Agency for incurred costs relative to the protect following the,Statc's rc,kview and approval of sad charges, subjett to the formic and conditions of this Contract Provided. however, that charges incurred by the Local Agency prior to the date this etAlritrart is exciallcd by the State Controller will not be charged by the Local. to the project, and will not be reimbursixi by the State, 13 The Sifite will reimburse the Local Agency's reasonable, alloc,61e„ allowable costs of Performance of the Work, not exceeding the maximum total amount described in Section 4. rim applicable principles desert hal in 49'e...F,Ft.„ 18 Subpart C and 49 C,F.R. 18„22,shall govern die allowa batty and aliocability of costs under this contract, Tice. Local Agency shall comply with all stall principles, To he eligible for reththerSellIent, cogs bSi the Locril Agency shall he: accordanix with the proviSions of Section 4 and with the temis and conditions of this CO/ittlia; 2. access:11y Ihr the acComplishment (tithe Work; 3, roxionabie in the aniount Or the goods and se/vie:es provideJA; 3 219