8/18/2016 2:09:23 PM
9/30/2015 7:17:53 PM
Official Document Type
Agenda Item Number
Florida Department of Transportation
Right of Way Acquisition Road Widening Project
16th/17th St , 14th Ave.
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which is 12 . 5% of the project cost . In the event PARTICIPANT' S share of the project cost is <br /> more than the estimated NINETY THOUSAND ONE HUNDRED THIRTY FIVE DOLLARS <br /> ($ 90 , 135 . 00 ) , the PARTICIPANT will be obligated to pay the increased cost. If the <br /> PARTICIPANT' S share of the project cost is less than the estimated NINETY THOUSAND <br /> ONE HUNDRED THIRTY FIVE DOLLARS ( $ 90 , 135 . 00 ) , the DEPARTMENT will refund the <br /> difference to the PARTICIPANT once the acquisition is completed and accepted by the <br /> DEPARTMENT . <br /> The PARTICIPANT agrees that it will , within thirty (30) days of execution of this Agreement , <br /> furnish the DEPARTMENT with a check in the amount of NINETY THOUSAND ONE <br /> HUNDRED THIRTY FIVE DOLLARS ( $ 90 , 135 . 00 ) towards the Project Costs . Payment shall <br /> be clearly marked to indicate that it is to be applied to FM Project No . : 230872 =1 <br /> = <br /> 46/41 /42/43/45 -01 . <br /> Remittance shall be made payable to the Department of Transportation . Payment shall be <br /> clearly marked to indicate that it is to be applied to FM Project No . : 230872 -1 -4B/41 /42/43/45 = <br /> 01 . The DEPARTMENT shall utilize this amount towards costs of Project No . : 230872 -1 - <br /> 4B/41 /42/43/45 -01 . <br /> Payment shall be mailed to : <br /> Florida Department of Transportation <br /> Professional Services Unit <br /> Attention : Leos A. Kennedy , Jr. <br /> 3400 West Commercial Boulevard <br /> Fort Lauderdale , FL 33309-3421 <br /> (A) Should project modifications occur that increases the PARTICIPANT' s share of the <br /> total project costs , the PARTICIPANT will be notified by the DEPARTMENT <br /> accordingly . The PARTICIPANT agrees to provide , without delay , adequate funds to <br /> ensure that cash on deposit with the DEPARTMENT is sufficient to fully fund its share <br /> of the project. The DEPARTMENT shall notify the PARTICIPANT as soon as it <br /> becomes apparent the actual costs will overrun the estimated amount; however, failure <br /> of the DEPARTMENT to so notify the PARTICIPANT shall not relieve the <br /> PARTICIPANT from its obligation to pay for its full participation during the project and <br /> on final accounting as provided herein below . Funds due from the PARTICIPANT <br /> during the project not paid within 40 (forty) calendar days from the date of the invoice <br /> are subject to an interest charge at a rate established pursuant to Section 55. 03, <br /> Florida Statues. <br /> (B) In the event the final accounting of total project costs is greater than the total deposits <br /> to date , the PARTICIPANT will pay the additional amount within forty (40) calendar <br /> days from the date of the invoice from the DEPARTMENT . The PARTICIPANT agrees <br /> to pay the interest at a rate established pursuant to Section 55. 03, F. S. , on any invoice <br /> not paid within forty (40) calendar days until the invoice is paid . <br /> 6 . In the event it becomes necessary for the DEPARTMENT to institute suit for the enforcement of <br /> the provisions of this Agreement, the PARTICIPANT shall pay the Department' s reasonable <br /> attorney fees and court costs if the DEPARTMENT prevails . <br /> 2of5 <br />
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