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4. COMPENSATION AND PAYMENT <br />A) The COUNTY and the DEPARTMENT agree to share the cost of the Project as <br />previously described above. The COUNTY agrees to provide one-half (1/2) of the cost <br />for Project expenditures and the Department agrees to provide the other one-half (1/2) <br />pursuant to F.S. §339.2817 <br />B) The estimated total cost as set forth in the DEPARTMENT's adopted work program for <br />this Project is EIGHT MILLION EIGHT HUNDRED NINE THOUSAND TWO <br />HUNDRED FIFTY FOUR DOLLARS AND NO CENTS ($8,809,254.00). The <br />COUNTY's estimated share for the Project is FOUR MILLION FOUR HUNDRED <br />FOUR THOUSAND SIX HUNDRED TWENTY SEVEN DOLLARS AND NO CENTS <br />($4,404,627.00), which sum shall be paid to the DEPARTMENT. In the event the actual <br />cost of the Project is less than the funds provided, the difference shall be refunded to the <br />COUNTY. In the event the actual cost of the Project, without modifications, results in a <br />sum greater than that paid by the COUNTY, then any additional cost shall be the sole <br />responsibility of the COUNTY. <br />The COUNTY will submit the funding for the Project in three payments. The COUNTY <br />agrees that it will, no later than October 31, 2015, furnish the DEPARTMENT with a <br />check for the funding required for Fiscal Year 2015/2016 in the amount of TWO <br />MILLION ONE HUNDRED ELEVEN THOUSAND NINE HUNDRED SEVEN <br />DOLLARS ($2,111,907.00). The second payment, which is the required funding for <br />Fiscal Year 2016/2017, in the amount of ONE MILLION TWO HUNDRED SEVENTY <br />ONE THOUSAND FIVE HUNDRED TWENTY THREE DOLLARS ($1,271,523.00) is <br />due no later than October 31, 2016. The third payment, which is the remaining funding <br />required for Fiscal Year 2017/2018, in the amount of ONE MILLION TWENTY ONE <br />THOUSAND ONE HUNDRED NINETY SEVEN DOLLARS ($1,021,197.00) is due no <br />later than October 31, 2017. <br />In the event the first payment is not received by the DEPARTMENT by October 31, 2015, <br />the Agreement may be terminated and the right of way acquisition halted. Existing and <br />future phases of the Project will also be halted and cancelled. <br />Remittance shall be made payable to the Department of Financial Services, Revenue <br />Processing. Payment shall be clearly marked to indicate that it is to be applied to FM <br />Project No.: 431759-1-4B/42/43/45-01. The DEPARTMENT shall utilize this amount <br />towards costs of project 431759-1-4B/42/43/45-01. <br />Page 3 <br />