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4b FORM V-0?4fY6 PUnJJC TRAYSP A4d11.Y 06W P's. :d 12 2.00 Accomplishment of the Project: 2.14 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: "Ile 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 or 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 SMSA I3fi t70 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 S 221 as detailed in Exhibit "13% or in an amount equal to the percentage(s) of total project cast shown an Exhibit "B", whichever is less. 4.10 Project Cost ElWbillty: 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 (4o) (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 (4L3 (is not) applicable. if applicable,.—pereent of the Department's total share of participation as shown in paragraph 4.00 is to he held in retainage to be disbursed, at the Department's discretion, on or before the completion of the final project audit. 6.00 Project Budget and Payment Provisions; 6.10 The Project Budget: A project budget shall be prepared by the Agency and approved by the Depammem. The Agency shall maintain said budget, carry out the project and shall incur obligations against and make rtishursemeu's of project funds only in conformity with the latest approved budget for the project. No budget increase or decrease shall be effective unless it complies with fund participation requirements established in paragraph 4.00 of this Agreement and is approved by the Department Comptroller,