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The CITY agrees to bill the STATE for its proportionate share of the traffic signal <br /> maintenance costs on a three-month basis. The amount billed shall be the actual costs <br /> incurred Iess any third party damage claims received during the billing period for repair of <br /> traffic signals that are the responsibility of the billed party. Any proposed expenditure in <br /> excess of$5,000 for repair of damage to any single traffic signal installation must be <br /> approved by the billed party before the expenditure is made. The STATE reserves the right <br /> to examine the records of the CITY to determine that costs billed are fully documented. <br /> The STATE agrees to make arrangement with the local power company to furnish the <br /> electrical energy for the operation of the traffic signals. The CITY agrees to pay their <br /> proportionate share of this cost a billed by the local power company. <br /> The STATE retains the right to control the sequence and timing of the traffic signals. <br /> Payment by the STATE of any or all of its share of maintenance and energy costs is <br /> contingent upon the STATE receiving adequate funds in its annual appropriation. <br /> The parties hereto agree that the traffic signal maintenance and energy provisions of this <br /> Agreement shall remain in effect for a period of twenty (20) years from the date of its <br /> execution or so long as the traffic signals covered by the terms of this Agreement or any <br /> amenclment hereto remain in place either in their current or some modified configuration, <br /> whichever, is the shorter period of time. Such an effective term shall apply unless otherwise <br /> agreed in writing by the parties hereto. <br /> 8. The CITY agrees to provide written approval of that portiun of the plans and specifications <br /> relative to the CITY financial and maintenance obligations described herein, prior to the <br /> STATE's advertising for the aforedescribed proposed improvement. <br /> This AGREEMENT and the covenants contained herein shall be null and void in the event the , <br /> contract covering the construction work contemplated herein is not awarded within the three years ��I <br /> subsequent to execution of tYie agreement. � <br /> � <br />