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750-010-22 <br />TRAFFIC OPERATIONS <br />05102 <br />EXHIBIT B <br />TRAFFIC SIGNAL MAINTENANCE AND COMPENSATION AGREEMENT <br />1.0 PURPOSE <br />This exhibit defines the method and limits of compensation to be made to the Maintaining Agency for the services <br />described in this Agreement and in Exhibit A and Method by which payments will be made. <br />2.0 COMPENSATION <br />For the satisfactory completion of all services detailed in this Agreement and Exhibit A of this Agreement, the <br />Department will pay the Maintaining Agency the Total Lump Sum in Exhibit A The Maintaining Agency will <br />receive one lump sum payment at the end of each fiscal year for satisfactory completion of service. <br />Total Lump Sum Amount for each Fiscal Year is calculated by adding all of the individual intersection amounts. <br />The individual intersection amounts are calculated by taking the FY Unit Rate times the Percent of State Road <br />Approaches to Total Approaches. <br />Example: For a intersection with 4 approaches with 2 approaches (50%)being state roads, the <br />intersection amount will be: $518 x (2/4)= $259 <br />Unit Rates per 100% State Intersections <br />FY 02-03 $ 518 <br />03-04 $1,599 <br />04-05 $2,196 <br />05-06 $2,262 <br />06-07 $2,330 <br />Beginning FY 07-08, the Unit Rate for each fiscal year will be 3% more than the Unit Rate for the <br />previous fiscal year, unless otherwise specified in an amendment to this Agreement. <br />3.0 PAYMENT PROCESSING <br />The Maintaining Agency shall invoice the Department yearly in a format acceptable to the Department. <br />COPY OF PARTIALLY EXECUTED TRAFFIC SIGNAL MAINTENANCE <br />AND COMPENSATION AGREEMENT IS ON FILE <br />IN THE OFFICE OF THE CLERK TO THE BOARD <br />June 18, 2002 <br />