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<br />Local Agency to lawfully execute this contract on behalf of the Local <br />Agency and to bind the Local Agency to its terms. <br />III. GENERAL PROVISIONS <br />A. The Local Agency has estimated the total cost of the preliminary engineer- <br />ing, and construction to upgrade Pine Street in Louisville, Colorado, <br />hereinafter referred to as "the work" to be $163,000.00 which is to be <br />funded as follows: <br /> <br />a. <br /> <br />Federal participating funds <br />(83% of $159,000.00) <br /> <br />$131,970.00 <br /> <br />b. Local Agency share: <br /> <br />(1) <br /> <br />Local Agency parti- <br />cipating funds <br />(17% of $159,000.00) <br /> <br />$27,030.00 <br /> <br />(2) <br /> <br />The Local Agency non- <br />participating funds for <br />indirect costs incurred <br />by the Local Agency and/or <br />the State (approx. 2.5% <br />of $159,000.00) <br /> <br />$4,000.00 <br /> <br />Total Funds <br /> <br />$31,030.00 <br />$163,000.00 <br /> <br />Subtotal (Local Agency share) <br /> <br />B. The matching ratio for this Federal-aid urban system project is 83% <br />Federal-aid funds to 17% Local Agency funds, it being understood that <br />such ratio applies only to such costs as are eligible for Federal participa- <br />tion, it being further understood that all non-participating costs are borne <br />by the Local Agency at 100%. The performance of the work shall be at no <br />cost to the State. If the total actual cost of performance of the work <br />exceeds $163,000.00, and additional Federal funds are made available for <br />the project, the Local Agency shall pay 17% of all such costs eligible for <br />Federal participation and 100% of all non-participating costs. If the total <br /> <br />-9- <br />