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WPI No. 4125343 <br />Page 2 of 8 <br />Signalization improvements for two (2) intersections, Old Dixie Highway and 8th Street, and 8th <br />Street and 6th Avenue, off the State Highway System in Indian River County, Florida. <br />WHEREAS, the completion of the Signal System Group I Project, both the DEPARTMENT's and <br />the COUNTY's portions hereinafter referred to as the "PROJECT", is in the interest of both the <br />DEPARTMENT and the COUNTY; and <br />WHEREAS, the COUNTY, by resolution dated June 9, 92 <br />. , 19_, a copy of which is attached <br />hereto and made a part hereof, has authorized the COUNTY, to enter into this Agreement, <br />NOW, THEREFORE, in consideration of the mutual benefits to be derived from joint <br />participation on the PROJECT, the parties agree to the following: <br />I. The DEPARTMENT will prepare the plans, specifications and estimates for the PROJECT. <br />2. The DEPARTMENT will let and administer construction of the PROJECT, (including <br />construction engineering and inspection and implementation activities). <br />3. The COUNTY agrees to pay the full cost for construction including construction engineering <br />and inspection, for the COUNTY'S portion of the PROJECT (State Project Nos. 88000-3607), <br />estimated to be THIRTY THREE THOUSAND DOLLARS ($33,000.00) to the <br />DEPARTMENT for the PROJECT no less than twenty (20) days prior to the advertisement for <br />construction bids. The actual amount of deposit will be determined by the DEPARTMENT <br />upon receipt of the contract bids. In the event the bids for the PROJECTS exceed the deposit, <br />the DEPARTMENT shall notify the COUNTY and the COUNTY shall pay the additional <br />