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725-030-06 <br />PUBLIC TRANSPORTATION <br />OGC - 12/14 <br />Page 2 of 14 <br />2.00 Accomplishment of the Project <br />2.10 General Requirements: The Agency shall commence, and complete the project as described in Exhibit <br />"A" attached hereto and by this reference made a part hereof this Agreement, with all practical dispatch, in a sound, <br />economical, and efficient 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. The Department has the option to <br />require an activity report on a quarterly basis. The activity report will include details of the progress of the project towards <br />completion. <br />3.00 Project Cost: The total estimated cost of the project is $ 118,455.00 . This amount <br />is based upon the estimate summarized in Exhibit "B" attached hereto and by this reference made a part hereof this <br />Agreement. The Agency agrees to bear all expenses in excess of the total estimated cost of the project and any deficits <br />involved. <br />4.00 Department Participation: The Department agrees to maximum participation, including contingencies, <br />in the project in the amount of $ 88,841.00 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 Section 15.00 of this Agreement; Approval of all plans, specifications, contracts or <br />other obligating documents as required by the Department, and all other terms of this Agreement; <br />(c) Department approval of costs in excess of the approved funding or attributable to actions which have not received <br />the required approval of the Department and all other terms of this 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 El is 0 is not applicable. If applicable, the Department may <br />initially pay 100% of the total allowable incurred project costs up to an amount equal to its total share of participation as <br />shown in paragraph 4.00. <br />5.00 Project Budget and Payment Provisions: <br />5.10 The Project Budget: A project budget shall be prepared by the Agency and approved by the Department. <br />The Agency shall maintain said budget, carry out the project and shall incur obligations against project funds only in <br />conformity with the latest approved budget for the project. No budget increase or decrease shall <br />be effective unless it complies with fund participation requirements established in Section 4.00 of this Agreement, or <br />Amendment thereto, and is approved by the Department Comptroller. <br />Page 2 of 14 <br />