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6 . The total cost of the project is estimated at ONE MILLION SIX HUNDRED FIFTY THOUSAND DOLLARS ($1 ,650, 000 .00) . The Federal Government will contribute SEVENTY-FIVE PERCENT (75%) of the total project cost or ONE MILLION TWO HUNDRED THIRTY SEVEN THOUSAND FIVE HUNDRED DOLLARS ($ 1 ,237 ,500.00) towards the project. The Participant and the DEPARTMENT agree to share the non-federal portion of the project costs or TWENTY-FIVE PERCENT ( 25%) . The Participant agrees to provide TWELVE AND ONE-HALF PERCENT (12.5%) of the project costs or TWO HUNDRED SIX THOUSAND TWO HUNDRED FIFTY DOLLARS ( $ 206, 250. 00) towards the project; the DEPARTMENT also agrees to provide TWELVE AND ONE -HALF PERCENT ( 12. 5 %) or TWO HUNDRED SIX THOUSAND TWO HUNDRED FIFTY DOLLARS ($206, 250 .00) towards the project costs . (These are estimated amounts) . 7 . The share of the Participant shall be , at a minimum , TWELVE AND ONE -HALF PERCENT ( 12.5%) of the actual costs of the project. In the event the Federal Government fails to provide the amount which Is equal to the anticipated federal share , ONE MILLION TWO HUNDRED THIRTY SEVEN THOUSAND FIVE HUNDRED DOLLARS ($ 1 ,237, 500 . 00) , the Participant shall be responsible for one-half ( 1 /2) of the funds required to make up the shortfall , SIX HUNDRED EIGHTEEN THOUSAND SEVEN HUNDRED FIFTY THOUSAND DOLLARS ($618 ,750 .00) including one-half ( 1 /2) of the cost overruns and/or supplemental agreements not paid by federal funds . The Department shall be responsible for the remaining one-half ( 1 /2) of any federal funding shortfall SIX HUNDRED EIGHTEEN THOUSAND SEVEN HUNDRED FIFTY DOLLARS ($618 ,750 .00) and one-half ( 1 /2) of the cost overruns and/or supplemental agreements not paid by federal funds . (All amounts are estimated amounts) 8 . The Participant agrees that it will , furnish the DEPARTMENT the amount of TWO HUNDRED SIX THOUSAND TWO HUNDRED FIFTY DOLLARS ($206 ,250 .00) within 30 calendar days of the DEPARTMENT'S execution of this AGREEMENT . 9 . The payment of funds under this Locally Funded Agreement will be made directly to the DEPARTMENT for deposit, and mailed to : Florida Department of Transportation , Lizz Holmes , Procurement Manager 3400 West Commercial Blvd . , Fort Lauderdale , Florida 33309 10 . Remittance shall be made payable to the Department of Financial Services, Revenue Processing . Payment shall be clearly marked to indicate that it is to be applied to FM Project No . : 405606.1 -21122= 01 , as stipulated in Exhibit A, Memorandum of Agreement. 11 . If the accepted bid amount plus allowances is less than the advance deposit amount, the Department will refund the amount that the advance deposit exceeds the bid amount plus allowances if such refund is requested by the Participant in writing . 12 . Should project modifications occur that increase the Participant' s share of total project costs , the Participant agrees to provide , without delay, in advance of the additional work being performed , adequate funds to ensure that cash on deposit with the Department is sufficient to fully fund its share of the project. The Department shall notify the Participant as soon as it becomes apparent the actual costs will overrun the award amount; however, failure of the Department to so notify the Participant shall not relieve the Participant from its obligation to pay for its full participation on final accounting as provided herein below.