04-28-2021 Council Packet - Laserfiche WebLink

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Page 2 of 8 The estimated total cost of the COMPANY Work to be performed by the COMPANY as indicated in the estimate of cost attached hereto and marked “Exhibit B” is $133,844.05 The ROAD AUTHORITY shall reimburse the COMPANY for all material costs, estimated at $37,844.05. The COMPANY warrants that it shall perform all of the COMPANY Work under this Agreement in a workmanlike and timely manner in accordance with all applicable standards for work of the type at issue. 2.2 WORK BY THE ROAD AUTHORITY. The ROAD AUTHORITY shall furnish or cause to be furnished, at its expense, all of the labor, material and work equipment required to perform and complete the following work (the “ROAD AUTHORITY WORK”): a. The paving of the roadway approaches up to the edge of the concrete crossing surface. b. Traffic control and detour signing. c. Incidental work necessary to complete the items hereinabove specified. 2.3 The COMPANY Work and the ROAD AUTHORITY Work shall be completed within 18 months of fully executing this agreement. SECTION 3. The ROAD AUTHORITY shall maintain jurisdiction for the roadway and will be responsible for maintaining the roadway and crossing approaches up to the ends of the track ties at its expense. The COMPANY shall operate and maintain its track, the crossing over its ties and the crossing warning devices in accordance with Federal or State law as it shall be from time to time in the future while it operates its line of railroad over such trackage and crossing, but this obligation to maintain said crossing and warning devices shall cease in the event the COMPANY abandons its railroad operations over said track in the future, in which event the ROAD AUTHORITY may, if it desires, remove the trackage and restore and maintain the crossing at its sole cost and expense. SECTION 4. This Agreement shall be binding upon the parties hereto, their successors or assigns.