Laserfiche WebLink
~ ~ <br />1 <br />2 <br />3 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />l~ <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />2~ <br />25 <br />(3) Should any portion of the PROJECT be financed with. <br />Federal funds or State gas tax funds all applicable procedures <br />and policies relating to the use of such funds shall apply <br />,notwithstanding other provisions of this Agreement. <br />(4) After opening. of bids, CITY's estimate of cost <br />will be revised based on actual bid prices.- CITY's required <br />deposit under Section II, Article. (1) will be increased or <br />', decreased to match said revised estimate. If deposit increase o:°~ <br />decrease is less than $500, no refund or demand for additional <br />deposit will be made until final accounting.. <br />(5) After opening bids for the PROJECT and if bids <br />indicate a cost overrun of no more than 10 percent of the <br />estimate, STATE may award the contract. <br />(6) If, upon opening of .bids, it is found that a cost <br />overrun exceeding 10 percent of the estimate will occur, STATE <br />and CITY shall endeavor to agree upon an alternative course of <br />action. <br />(7) Prior to award of the construction contract for <br />the PROJECT, CITY may terminate this Agreement in writing, <br />provided that CITY pays STATE for all costs incurred by STATE on <br />CITY's portion of PROJECT. <br />(8) If termination of this Agreement is by mutual <br />consent, STATE will bear 91 percent and CITY will bear 9 percent <br />of all costs incurred by STATE. <br />*. <br />it -5- <br />~~e~8o2 <br />