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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 $ 500,000 <br />2. Right-of-way 50,000 50,000 <br />3. Construction 2,818,437 2,318,437 <br />4. Contingency 100,000 100,000 <br />Grand Total $3,468,437 $2,968,437 <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 Previously Additional Maximum <br />Share Contributed Contribution Contribution <br />DISTRICT 37.6% $1,055,000 $ 250,000 $1,305,000 <br />CITY 37.6% $1,055,000 $ 250,000 $1,305,000 <br />LAFAYETTE 24.8% $ 858,437 $ -0- $ 858,437 <br />TOTAL 100.0% $2,968,437 $ 500,000 $3,468,437 <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 (LAFAYETTE - $858,437; CITY - $1,305,000; <br />DISTRICT - $1,305,000) shall be made to DISTRICT subsequent to execution of this <br />Agreement and within 30 days of request for payment by DISTRICT. The payments by <br />PARTIES shall be held by DISTRICT in a special fund to pay for increments of PROJECT <br />as authorized by PARTIES, and as defined herein. DISTRICT shall provide a periodic <br />accounting of PROJECT funds as well as a periodic notification to CITY and LAFAYETTE <br />of any unpaid obligations. Any interest earned by the monies contributed by PARTIES shall <br />be accrued to the special fund established by DISTRICT for PROJECT and such interest <br />shall be used only for PROJECT upon approval by the contracting officers (Paragraph 13). <br />ldcmlagrmnt111/110403E1 2 <br />