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FORM 725MG0 w <br /> PUBLIC TRANSP ADMIN-07100 <br /> Page 2 of 12 <br /> 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 efficient <br /> manner,and in accordance with the provisions herein, and all applicable laws. <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$ 484,366.00 <br /> is based upon.the estimate summarized in Exhibit"B"attached hereto and by this reference made a part hereof.his The amount <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$ 242,183.00 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 less. <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 obligating 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 O is Q 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 O is is not applicable. If applicable <br /> , percent of <br /> Department's total share of participation as shown in paragraph 4.00 is to be held in retainage to be disbursed, at the the <br /> Department's discretion, on or before the completion of the final project audit. <br />