R2001-01 AUTHORIZING AGREEMENT - Laserfiche WebLink

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3. It is mutually agreed by and between the parties hereto that the estimated cost and cost proration for this improvement is as follows: STATE LOCAL Federal State County City TOTAL Reimbursable Type of Wo�k Cost % CoSt % Cost % Cost % All constr.costs $1,691,840 80 $422,960 20 NA NA $2,114,800 excluding the following Traffic signals @ $ 89,600 80 $ 11,200 10 $11,200 10 NA $ 112,000 US 36&Wyckles Road Wiring and NA NA NA $2,900 100 $ 2,900 luminaries for highway lighting Sub Total $1,781,440 $434,160 $11,200 $2,900 $2,229,700 P&C Engr. 15% NA $332,340 $ 1,680 $ 435 $ 334,455 Total $1,781,440 $766,500 $12,880 $3,335 $2,564,155 Participation and reimbursement shall be predicated by the percentages shown above for the specified work. Cost shall be determined by multiplying the final quantities times contract unit prices plus 15% for construction and preliminary engineering. The COUNTY's participation toward the traffic signals as shown above shall not exceed $16,100 which represents 125% of its estimated construction and engineering cost. 4. The COUNTY, has passed a resolution appropriating sufficient funds to pay its share of the eost for this improveFnent; a copy of which is a#tached hereto as "Exhibit A" and made a part � hereof. ` The COUNTY, further agrees that upon award of the contract for this improvement, the COUNTY will pay to the DEPARTMENT OF TRANSPORTATION of the STATE OF ILLINOIS in a lump sum for any funds allotted to the COUNTY, an amount equal to 95% of its obligation incurred under this AGREEMENT, and will pay to the said DEPARTMENT the remainder of the obligation (including any non-participating costs on FA Projects) in a lump sum, upon completion of the project based upon final costs. The COUNTY, further agrees to pass a supplemental resolution to provide necessary funds for its share of the cost of this improvement if the amount appropriated in "Exhibit A" proves to be insufficient, to cover said cost. -2-