Laserfiche WebLink
WHEREAS, the CITY is desirous of said improvement in that same will be of <br /> immediate benefit to the CITY's residents and permanent in nature; <br /> NOW, THEREFORE, in consideration of the mutual covenants contained herein, the <br /> parties hereto agree as follows: <br /> 1. The STATE agrees to make the surveys, obtain all necessary rights-of_way, <br /> prepare plans and specifications, receive bids and award the contract, furnish <br /> engineering inspection during construction and cause the improvement to be - <br /> built in accordance with the plans, specifications and contract. <br /> 2. The STATE agrees to pay all rights-of-way, constxuction and engineering costs, <br /> subject to reimbursement by the CITY as hereinafter stipulated. <br /> 3. It is mutually agreed by and between the parties hereto that the estimated costs <br /> and cost proration for this improvement is as follows: <br /> Federal � �1�X <br /> Location &- <br /> �y�e of Work Cost �. Cost � Cost � TOTAL <br /> Oakland Avenue <br /> Traffic Signals $ 22,500 90 $ 1,250 5 $ 1,250 5 $ 25,000 <br /> Monroe Street <br /> Traffic Signals $22,500 90 $ 1,250 5 $ 1,250 5 $ 25,000 <br /> Martin Luther King Dr. <br /> Traffic Signals $ 22,500 90 $ 1,250 5 $ 1,250 5 $ 25,000 <br /> Sub-Total $ 67,500 $ 3,750 $ 3,750 $ 75,000 <br /> P & C Eng. (15%) _lY1B� $10,6gg $ 562 �, 11,250 <br /> TOTAL $ 67,500 $14,438 $ 4,312 $ 86,250 <br /> Participation and reimbursement shall be predicated on the percentages shown above for the <br /> specified work. Cost shall be determined by multiplying the final quantities times contract unit <br /> prices plus 15% for construction and preliminary engineering. The CITY's participation <br /> toward the traffic signals at Oakland Avenue, Monroe Street, and Martin Luther King Drive <br /> shall not exceed $1,796.87, $1,796.87, and $1,796.87 respectively, which represents 125% of <br /> their estimated construction and engineering costs. <br /> sjtl <br /> 2 <br />