Resolution 2013-09 - Laserfiche WebLink

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Section 4. Project Funding Provisions A. The Parties have determined the Local Agency's Contribution as its share of the Project costs. The Local Agency is prepared to provide its Contribution by payment in three installments, as evidenced by an appropriate ordinance or resolution duly passed and adopted by the authorized representatives of the Local Agency,which expressly authorizes the Local Agency to enter into this contract and to expend its funds for the Project. A copy of this ordinance or resolution is attached hereto and incorporated herein as Exhibit B. B. The Parties have estimated the total cost of the Project to be $12,500,000.00, of which amount the Local Agency Contribution shall be $3,518,195.00. The Contribution shall be paid over three years as set forth below: 2013 Payment (Full Payment Due 12/31/13) $1,172,732.00 2014 Payment (Full Payment Due 12/31/14) $1,172,732.00 2015 Payment (*) $1.172.732.00 Total City Funding $3,518,195.00 * This payment is due no later than December 31, 2015 or 30 days after the date of final acceptance of the Work, whichever first occurs. Payments in FY 2014 and 2015 are subject to budgeting and appropriation of City funds. C. The maximum amount payable by the Local Agency under this contract shall be $3,518,195.00, unless such amount is increased by an appropriate written modification to this contract executed by the Parties before any increased cost is incurred. Any.change in the technical requirements requested by the Local Agency may result in an increase in the maximum amount payable,which will be modified by amendment to this contract. It is understood and agreed by the parties hereto that the total cost of the Contribution stated hereinbefore is the best estimate available, based on the design data as approved at the time of execution of this contract, and that such cost is subject to revisions(in accord with the procedure in the previous sentence)agreeable to the Parties prior to bid and award. Should the funding exceed the estimated $12,500,000.00 referenced in Recital 9, CDOT shall be responsible for the excess costs. D. The Parties hereto agree that this contract is contingent upon all funds designated for the Project herein being made available from local sources, as applicable. Should these sources fail to provide necessary funds as agreed upon herein,the contract maybe terminated by either party,provided that any party terminating its interest and obligations herein shall not be relieved of any obligations which existed prior to the effective date of such termination or which may occur as a result of such termination. Page 3 of 12