2010-11-10 CC Set Agenda w/Handouts

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Upon final completion of the project, the City's share of the construction cost will be based upon actual construction costs. If necessary, adjustments to the initial one hundred percent (100%) charged will be made in the form of credit or additional charges to the City's share, Additionally, the administrative reimbursement of the actual costs incurred by the County shall be paid. For estimation purposes this is assumed to be 2% of the construction estimate. The total estimated construction cost and administrative fees to the City (less Federal Funds) for the project is $284,860.80. IV. TERM This Agreement shall continue until terminated as provided hereinafter. V. DISBURSEMENT OF FUNDS All funds disbursed by the County or City pursuant to this Agreement shall be disbursed by each entity pursuant to the method provided by law. All contracts let and purchases made pursuant to this Agreement shall be made by the City and County in conformance to the State laws, kvljl� "40.141 1 �1 � 1� �WWWWW Wd A strict accounting shall be made of all funds and report of all receipts and shall be made upon request by either party. VIII. TERMINATION This Agreement may be terminated by either party at any time, with or without cause, upon not less than thirty (30) days written notice delivered by mail or in person to the other party. If notice is delivered by mail, it shall be deemed to be received two days after mailing. Such termination shall not be effective with respect to any solicitation of bids or any purchases Of Services Or goods, which occurred prior to such notice of termination. The City shall pay its pro rata share of costs which the County incurred prior to such notice of termination. IX. OWNERSHIP/MAINTENANCE The City shall own improvements constructed as part of the Project and shall be solely responsible for the ongoing maintenance of all such improvements including but not limited to trails and streetlights.