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PROJECT costs for the various elements of the effort are estimated as follows:. <br />PREVIOUSLY <br />ITEM AS AMENDED AMENDED <br />1. Final Design $ 500,000 $ 200,000 <br />2. Right -of -way 50,000 50,000 <br />3. Construction 2,318,437 1,425,000 <br />4. Contingency 100,000 100,000 <br />Grand Total $2,968,437 $1,775,000 <br />This breakdown of costs is for estimating purposes only. Costs may vary between the <br />various elements of the effort without amendment to this Agreement provided the <br />total expenditures do not exceed the maximum contribution by all PARTIES plus <br />accrued interest. <br />C. Based on total PROJECT costs, the maximum percent and dollar contribution by each <br />party shall be: <br />Percentage <br />Share <br />DISTRICT 35.5% <br />CITY 35.5% <br />LAFAYETTE 30.0% <br />TOTAL 100.00% <br />Previously <br />Contributed <br />$ 850,000 <br />$ 850,000 <br />$ 75,000 <br />$1,775,000 <br />Additional <br />Contribution <br />$ 205,000 <br />$ 205,000 <br />$ 783,437 <br />$1,193,437 <br />Maximum <br />Contribution <br />$1,055,000 <br />$1,055,000 <br />$ 858,437 <br />$2,968,437 <br />2. Paragraph 5. MANAGEMENT OF FINANCES is deleted and replaced as follows: <br />5. MANAGEMENT OF FINANCES <br />As set forth in DISTRICT policy (Resolution No. 11, Series of 1973, Resolution No. 49, <br />Series of 1977, and Resolution No. 37, Series of 2009), the funding of a local body's one - <br />half share may come from its own revenue sources or from funds received from state, federal <br />or other sources of funding without limitation and without prior Board approval. <br />Payment of each party's full share ($858,437; CITY - $1,055,000; DISTRICT - $1,055,000) <br />shall be made to DISTRICT subsequent to execution of this Agreement and within 30 days <br />of request for payment by DISTRICT. The payments by PARTIES shall be held by <br />DISTRICT in a special fund to pay for increments of PROJECT as authorized by PARTIES, <br />and as defined herein. DISTRICT shall provide a periodic accounting of PROJECT funds as <br />well as a periodic notification to CITY and LAFAYETTE of any unpaid obligations. Any <br />interest earned by the monies contributed by PARTIES shall be accrued to the special fund <br />established by DISTRICT for PROJECT and such interest shall be used only for PROJECT <br />upon approval by the contracting officers (Paragraph 13). <br />\dem\agrmnt \11/110403D\ 2 <br />