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<br /> <br />Of this $592,263, $450,000 is a lump sum payment for CSAH 57. This leaves $142,263 in city cost <br />share for improvements on CSAH 116 and noise walls on CSAH 57 and CSAH 116. <br /> <br />$592,263 <br />The total estimated construction cost to the City (less Federal Funds) for the project is as shown on the <br />attached Exhibit B. The City participation in construction engineering will be at a rate of eight percent (8%) of <br />their designated share of $815,432365,432. The estimated cost to the City for construction engineering is <br />$29,234. $621,497 <br />The grand total estimated cost to the City for the project is <br /> <br />Upon award of the contract, the City shall pay to the County, upon written demand by the County, ninety five <br />$590,422. <br />percent (95%) of its portion of the cost of the project estimated at The City's share of the cost of the <br />project shall include only construction and construction engineering expense and does not include administrative <br />expenses incurred by the County. <br /> <br />Upon final completion of the project, the City's share of the construction cost will be based upon actual <br />construction costs. If necessary, adjustments to the initial ninety five percent (95%) charged will be made in the <br />form of credit or additional charges to the City's share. Also, the remaining five percent (5%) of the City's portion <br />of the construction costs shall be paid. The County will bill the 95% based on actual numbers received from low <br />bidder. <br /> <br /> IV. TERM <br /> <br /> This Agreement shall continue until terminated as provided hereinafter. <br /> <br /> V. DISBURSEMENT OF FUNDS <br /> <br /> All funds disbursed by the County or City pursuant to this Agreement shall be disbursed by each <br />entity pursuant to the method provided by law. <br /> <br /> VI. CONTRACTS AND PURCHASES <br /> <br /> All contracts let and purchases made pursuant to this Agreement shall be made by the County in <br />conformance to the State laws. <br /> <br /> VII. STRICT ACCOUNTABILITY <br /> <br /> A strict accounting shall be made of all funds and report of all receipts and disbursements shall be <br />made upon request by either party. <br /> <br /> VIII. TERMINATION <br /> <br /> This Agreement may be terminated by either party at any time, with or without cause, upon not <br />less than thirty (30) days written notice delivered by mail or in person to the other party. If notice is delivered by <br />mail, it shall be deemed to be received two (2) days after mailing. Such termination shall not be effective with <br />respect to any solicitation of bids or any purchases of services or goods, which occurred prior to such notice of <br />termination. The City shall pay its pro rata share of costs, which the County incurred prior to such notice of <br />termination. <br /> <br /> IX. SIGNALIZATION POWER <br /> <br /> Signalization power will continue as per current separate agreement between MnDOT <br />and the City. A separate agreement is being prepared by MnDOT to finalize the responsibilities between the city <br />and MnDOT. <br /> <br />Formatted: Font: 11 pt <br />