Laserfiche WebLink
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 /> 97 <br />