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2.00 Accomplishment of the Project <br />2.10 General Requirements: The Agency shall commence, and complete the project as described in Exhibit "A" <br />attached hereto and by this reference made a part hereof, with all practical dispatch, in a sound, economical, and <br />efficient manner, and in accordance with the provisions herein, and all applicable laws. <br />4 <br />725-030-06 <br />PUBLIC TRANSPORTATION <br />06/03 <br />Page 2 of 12 <br />• <br />2.20 Pursuant to Federal, State, and Local Law: In the event that any election, referendum, approval, permit, <br />notice, or other proceeding or authorization is requisite under applicable law to enable the Agency to enter into this <br />Agreement or to undertake the project hereunder, or to observe, assume or carry out any of the provisions of the <br />Agreement, the Agency will initiate and consummate, as provided by law, all actions necessary with respect to any such <br />matters so requisite. <br />2.30 Funds of the Agency: The Agency shall initiate and prosecute to completion all proceedings necessary <br />including federal aid requirements to enable the Agency to provide the necessary funds for completion of the project. <br />2.40 Submission of Proceedings, Contracts and Other Documents: The Agency shall submit to the <br />Department such data, reports, records, contracts and other documents relating to the project as the Department may <br />require as listed in Exhibit "C' attached hereto and by this reference made a part hereof. <br />3.00 Project Cost: The total estimated cost of the project is $ 644,316.00 . This amount <br />is based upon the estimate summanzed in Exhibit 'B' attached hereto and by this reference made a part hereof. The <br />Agency agrees to bear all expenses in excess of the total estimated cost of the project and any deficits involved. <br />4.00 Department Participation: The Department agrees to maximum participation, including contingencies, <br />in the project in the amount of $ 322,158.00 as detailed in Exhibit "B", or in an amount equal to the <br />percentage(s) of total project cost shown in Exhibit "B", whichever is Tess. <br />4.10 Project Cost Eligibility : Project costs eligible for State participation will be allowed only from the effective <br />date of this agreement. It is understood that State participation in eligible project costs is subject to: <br />(a) Legislative approval of the Department's appropriation request in the work program year that the project is <br />scheduled to be committed; <br />(b) Availability of funds as stated in paragraph 17.00 of this Agreement; <br />(c) Approval of all plans, specifications, contracts or other obligpting documents and all other terms of this <br />Agreement; <br />(d) Department approval of the project scope and budget (Exhibits A & B) at the time appropriation authority <br />becomes available. <br />4.20 Front End Funding : Front end funding Q is O is not applicable. If applicable the Department <br />may initially pay 100% of the total allowable incurred project costs up to an amount equal to its total share of participation <br />as shown in paragraph 4.00. <br />5.00 Retainage : Retainage 0 is O is not applicable. If applicable, percent of the <br />Departments total share of participation as shown in paragraph 4.00 is to be held in retainage to be disbursed, at the <br />Department s discretion, on or before the completion of the final project audit. <br />