Resolution 2019-58 - Laserfiche WebLink

Home Browse Search

AWagg a RAILWAY b) In the event the Crossing Signal Equipment is damaged or destroyed by any other cause, the cost and expense to replace or repair such Crossing Signal Equipment shall be divided evenly between the Parties. 14. If the Crossing Signal Equipment installed hereunder cannot, through age, be maintained, or, by virtue of its obsolescence, requires replacement, the cost of installation of new crossing signal equipment will be negotiated by the parties hereto on the basis of the current Federal Aid Railroad Signal Program participation and applicable AGENCY at the time of such replacement is warranted, unless at the time there exists an applicable federal or state law, rule or regulation that allocates responsibility for such costs. 15. This Agreement shall inure to the benefit of and be binding on the parties hereto, their successors, and assigns. 16. In the event any paragraph contained in this Agreement or any item, part, or term within any particular paragraph is determined by a court of competent jurisdiction to be invalid or unenforceable, the validity of the remaining paragraphs or items will not be affected; and the rights and obligations of the parties will be construed and enforced as if this Agreement did not contain that particular paragraph or item held to be invalid or unenforceable. 17. This Agreement may be signed in counterparts, any one of which will be deemed to be an original. The parties thither agree that any facsimile copy of a party's signature is valid and binding to the same extent as an original signature. 18. AGENCY is subject to the 1992 Amendment to Colorado Constitution Article X, Section 20 commonly known as the "Taxpayer Bill of Rights" or "TABOR", which prohibits AGENCY from creating any multiple -fiscal year direct or indirect debt without voter approval. Notwithstanding anything in this Agreement to the contrary, all financial obligations of the AGENCY under this Agreement are subject to annual budgeting and appropriation by the Louisville City Council, in its sole discretion. AGENCY warrants and represents that the funds required to complete the Project have been appropriately budgeted, approved and allocated in the current fiscal year. 19. Nothing in the preceding Section 18 of this Agreement limits RAILROAD'S right to collect, nor AGENCY'S obligation to pay, additional compensation pursuant to any remedy -granting provision of this Agreement. In the event that any contingency occurs for which the AGENCY is required to pay additional compensation to COMPANY pursuant to the terms of this Agreement, COMPANY shall submit documentation supporting its claim to AGENCY along with a sworn statement setting forth the amount of additional compensation to which COMPANY contends it is entitled and an averment that the claim supporting data is accurate and complete to the best of COMPANY'S knowledge and accurately reflects what is owed by AGENCY.