RES 88533 - Laserfiche WebLink

Dist. Agmt. No. 4-1080-C and (8) above are found by CITY to be substantially under the amount which iS required to cover the estimated cost of the next billing cycle. If the deposit is substantially over that re- quired, the excess should be credited on subsequent monthly billings pursuant to Article (22) of Section II. (10) To deposit in the acquisition escrow account within 20 days of receipt of billing therefor, (which billing may be forwarded by City following delivery of each conveyance into an acquisition escrow account), an amount which represents STATE's cost for the parcel, easement or permit to be acquired. (11) To provide prompt reviews and approvals, as appro- priate, of submittals by CITY of right of way and design activ- ities for PROJECT, and to cooperate in timely processing of PS&E. (12) STATE's costs for construction (estimated to be $1,600,000), shall be an amount equal to the total actual con- struction cost including the costs of relocating said utilities, the costs of contract claims which are allowed to CITY's contrac- tor and the cost of CITY defense of all claims which may be filed by said contractor, if any, as determined after completion of work and upon final accounting of costs. (13~ To deposit with CITY within 25 days of receipt of billing therefor (which billing may be forwarded immediately fol- lowing CITY's bid advertising date of a construction contract for PROJECT), the amount of $160,000, which figure represents approx- imately 10 percent of STATE's estimated cost for construction re- quired to complete the PROJECT, and to thereafter reimburse CITY -4-