Laserfiche WebLink
87120 <br />construction cost share, right -of -way acquisition costs and design <br />costs which does not include the 8 percent construction engineering <br />cost share for the construction pay items on Sheets 2, 3 and 4 and as <br />shown in the Revised SCHEDULE "I ": <br />1. Execution and approval of this Agreement and the State's <br />transmittal of it to the City along with a copy of the Revised <br />SCHEDULE "I ". <br />2. Receipt by the City of a written request from the State for the <br />advancement of funds. <br />Section B. Final Payment by the City <br />Upon completion and acceptance of the contract construction and upon <br />computation of the final amount due the State's contractor, the State <br />shall prepare a Final SCHEDULE "I" and submit a copy to the City. <br />The Final SCHEDULE "I" shall be based on final quantities, lump sum <br />costs for pond excavation, right -of -way acquisition, design costs and <br />include all City cost participation construction items and the <br />construction engineering cost share covered under this Agreement. If <br />the final cost of the City participation covered under this Agreement <br />exceeds the amount of funds advanced by the City, the City shall, <br />upon receipt of a request from the State, promptly pay the difference <br />to the State without interest. If the final cost of the City <br />participation covered under this Agreement is less than the amount of <br />funds advanced by the City, the State shall promptly return the <br />balance to the City without interest. <br />Pursuant to Minnesota Statutes Section 15.415, the State waives claim <br />for any amounts less than $5.00 over the amount of City funds <br />previously advanced to the State, and the City waives claim for the <br />-8 <br />