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*( $138,488.29 – $102,716.76 + $15,000.00 + $11,079.06 = $61,850.59, note: construction engineering <br />costs are not federally eligible) <br /> <br />Upon award of the contract, the City shall pay to the County, upon written demand by the County, ninety <br />five percent (95%) of its portion of the cost of the Project estimated at $58,758.06. Prior to billing, this <br />estimate will be updated by the County to reflect the actual bid prices as awarded. An updated cost <br />estimate shall be provided to the City at the time of billing. The City's share of the cost of the Project shall <br />include only construction and construction engineering expense and does not include engineering design <br />and administrative expenses incurred by the County. <br /> <br />After final completion of the Project, the City's share of the construction cost will be based upon actual <br />construction costs. If necessary, adjustments to the initial ninety five percent (95%) charged will be <br />made in the form of credit or additional charges to the City's share. Also, the remaining five percent <br />(5%) of the City's portion of the construction costs shall be paid. <br /> <br />The County agrees to submit to the City for review final quantities and cost within one year of Project <br />substantial completion. <br /> <br />IV. TERM / TERMINATION <br /> <br />This Agreement shall become effective immediately upon execution by all parties, and will remain in <br />effect until the Project and all restoration activities are completed, with exception of the ownership and <br />maintenance provisions within this Agreement which shall continue indefinitely. <br /> <br />V. DISBURSEMENT OF FUNDS <br /> <br />All funds disbursed by the County or City pursuant to this Agreement shall be disbursed by each entity <br />pursuant to the method provided by law. <br /> <br />VI. CONTRACTS AND PURCHASES <br /> <br />All contracts let and purchases made pursuant to this Agreement shall be made by the County in <br />conformance to the State laws. <br /> <br />VII. STRICT ACCOUNTABILITY <br /> <br />A strict accounting shall be made of all funds and report of all receipts and shall be made upon request <br />by either party. Prior to City payment to the County, Anoka County shall provide the City with a copy <br />of all cost participation documents submitted to MnDOT State Aid to assist the City in their application <br />for MSA funding. <br /> <br />VIII. MAINTENANCE <br /> <br />A. Maintenance of the completed watermain and sanitary sewer shall be the sole obligation of the <br />City. <br /> <br />B. Routine maintenance of the completed storm sewer (except catch basins and catch basin leads as <br />shown in Exhibit “B-1”), including cleaning, inspection, and removal of blockages, shall be the <br />sole obligation of the City. Long-term maintenance, including replacement of any storm sewer <br />infrastructure (excluding pond inlets, outlets or outlet control structures), shall be the <br />179