O-2002-2562 Date Palms & Oleanders-SH 225 & Sens Rd exit Advance Funding Agreement

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." .. < e e STP 2002(147)TE . . - CSJ: 0912-71-795 Project: Date Palms and Oleanders for SH 225 at Sens Road Exit allowable Project's cost. The remaining balance of the local contribution shall be in cash, donated real property or materials. The Local Government may also provide services or materials to reduce the overall cost of a Project, but it will not be considered as an in-kind contribution. Donations of real property must be from private ownership to public ownership for Project purposes. D. The State will be responsible for securing the federal share of funding required for the development and construction of the Project, in an amount not to exceed eighty percent (80%) of the actual cost of the work up to the amount of funds approved for the Project by the Texas Transportation Commission. Federal funds will be reimbursed on a cost basis. Project costs incurred prior to Project selection by the Texas Transportation Commission and approval by the State to proceed are not eligible for reimbursement. E. The estimated administrative, Project development and design review cost to be incurred by the State is $12.000.00. Within 30 days of the execution of this Agreement by all parties the Local Government will remit a check or warrant made payable to the "Texas Department of Transportation" in the amount of $2.400.00, which is based on twenty (20%) of the STATE estimated administrative, project development and design review cost. The STATE must receive payment prior to the performance of any review work by the State. F. Sixty. (60) days prior to the date set for receipt of the construction bids, the Local Government shall remit its remaining financial share for the State's estimated construction oversight and construction costs. The Local Government must advance to the State at least twenty (20%) of the Project construction and construction engineering costs. The amount to be advanced for this Project is estimated to be $35.227.00, including cash and allowable donations. . G. In the event the State determines that additional funding is required by the Local Government at any time during the development of the Project, the State will notify the Local Government in writing. The Local Government will make payment to the State within thirty (30) days from receipt of the State's written notification H. Upon completion of the Project, the State will perform an audit of the Project costs. Any funds due to the Local Government, the State, or the Federal Government will be promptly paid by the owing party. I. In the ev~nt the Project is not completed, the State may seek reimbursement from the Local Government of the expended federal funds. The Local Government will remit the required funds to the State within sixty (60) days from receipt of the State's notification. J. The State will not pay interest on any funds provided by the Local Government. K. The State will not execute the contract for the construction of the Project until the required funding has been made available by the Local Government in accordance with this Agreement. L. If any existing or future local ordinances, including, but not limited to, outdoor advertising billboards or storm water drainage facility requ~rements, are more Page 9 of 32