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i 4 ` t 725-030-06 PUBLIC TRANSPORTATION 06/03 Page 2 of 12 2 .00 Accomplishment of the Project 2 . 10 General Requirements : The Agency shall commence , and complete the project as described in Exhibit "A" attached hereto and by this reference made a part hereof, with all practical dispatch , in a sound , economical , and efficient manner, and in accordance with the provisions herein , and all applicable laws . 2 .20 Pursuant to Federal , State, and Local Law : In the event that any election , referendum , approval , permit , notice , or other proceeding or authorization is requisite under applicable law to enable the Agency to enter into this Agreement or to undertake the project hereunder, or to observe , assume or carry out any of the provisions of the Agreement, the Agency will initiate and consummate , as provided by law, all actions necessary with respect to any such matters so requisite . 2 . 30 Funds of the Agency: The Agency shall initiate and prosecute to completion all proceedings necessary including federal aid requirements to enable the Agency to provide the necessary funds for completion of the project. 2 .40 Submission of Proceedings , Contracts and Other Documents : The Agency shall submit to the Department such data , reports , records , contracts and other documents relating to the project as the Department may require as listed in Exhibit "C " attached hereto and by this reference made a part hereof. 3.00 Project Cost: The total estimated cost of the project is $ 644 , 316 . 00 This amount is based upon the estimate summarized in Exhibit " B" attached hereto and by this reference made a part hereof. The Agency agrees to bear all expenses in excess of the total estimated cost of the project and any deficits involved . 4.00 Department Participation : The Department agrees to maximum participation , including contingencies, in the project in the amount of $ 322 . 158 . 00 as detailed in Exhibit " B" , or in an amount equal to the percentage(s) of total project cost shown in Exhibit "B", whichever is less . 4. 10 Project Cost Eligibility : Project costs eligible for State participation will be allowed only from the effective date of this agreement . It is understood that State participation in eligible project costs is subject to : (a ) Legislative approval of the Department's appropriation request in the work program year that the project is scheduled to be committed ; ( b) Availability of funds as stated in paragraph 17 . 00 of this Agreement ; (c) Approval of all plans , specifications , contracts or other obligating documents and all other terms of this Agreement; (d ) Department approval of the project scope and budget ( Exhibits A & B ) at the time appropriation authority becomes available . 4.20 Front End Funding : Front end funding Q is G) is not applicable . If applicable , the Department may initially pay 100 % of the total allowable incurred project costs up to an amount equal to its total share of participation as shown in paragraph 4 .00 . 5. 00 Retainage : Retainage O is is not applicable . If applicable , percent of the Department's total share of participation as shown in paragraph 4 . 00 is to be held in retainage to be disbursed , at the Department's discretion , on or before the completion of the final project audit .