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, �• <br /> 3. It is mutually agreed by and between the parties hereto that the estimated cost of the <br /> improvement is as follows: <br /> � �X <br /> Tvne of Work S� �. � IQ Total <br /> All construction costs, $ 163,500 100 NA NA $ 163,500 <br /> excluding the following <br /> Painting traffic signal NA NA $ 6,500 100 $ 6,500 I <br /> equipment requested <br /> by CITY <br /> SUBTOTAL $ 163,500 $ 6,500 $ 170,000 <br /> P & C Engr. 15% 24 $ 975 $ 25,500 <br /> TOTAL $ 188,025* $ 7,475 $ 195,500 <br /> Participation and reimbursement shall be predicated on the percentages shown above <br /> for the specified work. Cost shall be determined by multiplying the final quantities <br /> times contract unit prices plus 15% for construction and preliminary engineering. <br /> *The State of Illinois' "GreenLight" Program requires no financial participation by the <br /> CITY for the traffic signal modernization improvement, unless the CITY requests <br /> additional work which is outside the scope of the project. Without this program the <br /> CITY would have had to pay 50% of the costs of the traffic signal modernization under <br /> normal local agency - State splits. The estimated project cost, including engineering, is <br /> $188,025. The cost savings to the CITY is 50% of$188,025 or an amount equal to <br /> $94,012.50. <br /> 4. The CITY has passed a resolution appropriating sufficient funds to pay its share of the <br /> cost of this improvement, a copy of which is attached hereto as "Elchibit A" and made <br /> a part hereof. <br /> 5. The CITY agrees to provide, prior to the STATE's advertising for the work to be <br /> performed hereunder, approval of the plans and specifications as prepared, by <br /> resolution or letter. <br /> 6. The CITY shall exercise its franchise right to cause private utilities to be relocated at <br /> no expense to the STATE. <br /> -2- <br />