Laserfiche WebLink
65642 <br /> <br />ARTICLE III - PAYMENT BY THE STATE <br /> <br />Section A. Estimate and Advancement of the State's Cost Share <br /> <br />It is estimated, for accounting purposes, that the State's share <br />of the costs of the contract construction which includes the <br />State's shace of the prorated item costs plus the 8 percent <br />construction engineering cost share and a $4,000.00 contingency <br />amount is the sum of $.49,628.92 as shown in the attached SCHEDULE <br />"I". The attached SCHEDULE "I" form lists all of the anticipated <br />State cost participation construction work items and was prepared <br />using plan quantities and estimated unit prices. The State <br />shall, when it has received and reviewed the construction <br />contract bid documents described in Article I, Section B. hereof, <br />then decide whether it will concur in the City's award of the <br />construction contract and, if so, prepare a revised SCHEDULE "I" <br />based on the construction contract unit prices. The contingency <br />amount is provided to cover overruns of the plans estimated <br />quantities of State cost participation construction work items <br />and/or items of State-approved additional construction including <br />construction engineering costs. <br /> <br />The State shall advance to the City an amount equal to the <br /> <br />State's total estimated cost share, less contingency amount, as <br /> <br /> <br />