Resolution 2013-30 - Laserfiche WebLink

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B. The Parties have estimated the total cost of the Project to be $650,000, of which amount the Local Agency Contribution shall be $487,500.00. The Contribution shall be paid over three years as set forth below: 2013 Payment (Full Payment Due 12/31/13) 2014 Payment (Full Payment Due 12/31/14) 2015 Payment ( *) $162,500.00 $162,500.00 $162,500.00 * 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 $487,500.00, unless such amount is increased by an appropriate written modification to this contract executed by the Parties before any increased cost is incurred. 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. 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 may be 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. Section 5. Project Payment Provisions A. The Local Agency will reimburse the State for incurred costs relative to the Project following the Local Agency's review and approval of such charges, subject to the terms and conditions of this contract. B. If the Local Agency is to be billed for CDOT incurred costs, the billing procedure shall be as follows: 1. Upon receipt of each bill from the State, the Local Agency will remit to the State the amount billed no later than 60 days after receipt of each bill. Should the Local Agency fail to pay moneys due the State within 60 days of demand or within such other period as may be agreed between the parties hereto, the Local Agency agrees that, at the request of the State, the State Treasurer may withhold an equal amount from future apportionment due the Local Agency from the Highway Users Tax Fund and to pay such funds directly to the State. Interim funds, until the State is reimbursed, shall be payable from the State Highway Supplementary Fund (400). 2. If the Local Agency fails to make timely payment to the State as required by this Page 3 of 12