R2000-34 AUTHORIZING LETTER OF INTENT

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' � The Honorable Terry Howley Page Two March 2, 2000 This Letter of Intent confirms the following division of responsibilities: City Responsibilities 1. The CITY agrees to make or cause to make the surveys, obtain all necessary rights of way, prepare plans and specifications, receive bids and award the contract, furnish engineering inspection during construction and cause the improvement to be built in accordance with the plans, specifications and contract. The City agrees to provide necessary rights of way along the STATE Route in the name of the STATE. 2. The CITY agrees to pay for all right-of-way, construction and engineering costs, subject to reimbursement by the STATE as hereinafter stipulated. 3. The CITY agrees to ensure approved permits from the STATE are acquired for work within the limits of this project prior to construction of the section. 4. The CITY will provide, or cause to provide, a Letter of Credit to the STATE for the construction of permitted work within the project limits. 5. The CITY agrees to eliminate direct access from eastbound Ash Avenue to Northbound Prospect Drive should the STATE determine by inspection, during an engineering evaluation, that traffic queues or stops on US Route 51, or, the STATE determines an increase in traffic accident rate or other adverse effect on traffic operations at the US Route 51/Ash Avenue intersection; either or both being reasonably attributed to the Ash Avenue/Prospect Drive turning movement. 6. The CITY shall maintain, for a minimum of(5) years after the completion of the Project, adequate books, records, and supporting documents to verify the amounts, recipients, and uses of all disbursements of funds passing in conjunction with this Agreement. All books, records, and supporting documents related to the Project shall be available for review and audit by the Auditor General and other State auditors and the CITY agrees to cooperate fully with an audit conducted by the Auditor General and other State Auditors and to provide full access to all relevant materials. Failure to maintain the books, records, and supporting documents required by this paragraph shall establish a presumption in favor of the STATE for the recovery of any funds paid by the STATE under this Agreement for which adequate books, records, and supporting documentation are not available to support their purported disbursement. 7. The CITY shall cause necessary relocation of utilities at no expense to the STATE.