O-1991-1777 - Laserfiche WebLink

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~,I .-'J e e Dollars ($173,508.84), one hundred eighty days after the execution of the agreement. NOW THEREFORE, it is understood that this proposed work will be constructed by the State and the City will transmit to the State with the return of this agreement, executed by the City, a warrant or check made payable to the State Department of Highways and Public Transportation in the amount of One Hundred Seventy Three Thousand Five Hundred Eight and 85/100 Dollars ($173,508.85), to be used in paying for the proposed work required by the City in the City of LaPorte. It is further understood that the City will pay to the State increments of One Hundred Seventy Three Thousand Five Hundred Eight and 85/100 Dollars ($173,508.85), ninety days after execution of the agreement and One Hundred Seventy Three Thousand Five Hundred Eight and 84/100 Dollars ($173,508.84), one hundred eighty days after the execution of the agreement. It is further understood that the State will construct only those items for the City as requested and required by the City and the entire cost of such items, excluding preliminary engineering, will be borne by the City. It is further understood that the City upon the request of the State will forthwith pay to the State additional funds over and above the increment amounts listed herein in the event additional funds are required to make payments for the construction work. In the event the amount as paid is more than the actual cost of the City.s share, then the excess amount will be returned to the City. It is further understood that the work to be done on behalf of the City, as herein provided, will include the cost of contingencies and construction engineering. It is further understood that the City by the execution of this agreement agrees to the terms and conditions of Commission Minute No. 87519, as it applies to the City, a copy of which is attached hereto and marked "Exhibit A"' and made a part of this agreement. -2-