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I. PURPOSE <br />• <br />The parties have joined together for the purpose of the reconstruction of the interchange <br />of I -3 5 W and County State Aid Highway 23 (Lake Drive) including the bridge over I -3 5 W, <br />herein known as the Project The County project number for the reconstruction is S.A.P. 02 -623- <br />13. The City Project No. is S.A.P. 210 - 020 -04. Said engineering plans will be filed in the office <br />of the Anoka County Highway Department and incorporated herein by reference. <br />IL METHOD <br />A. Construction <br />The City shall provide all construction- engineering services and shall cause the <br />construction of the Project in conformance with said plans and specifications. The City shall do <br />the calling for all bids and the acceptance of all bid proposals. <br />III. COSTS <br />A. The contract cost of the work, or if the work is not contracted, the cost of all <br />labor, materials, normal engineering costs and equipment rental required to complete the work <br />shall constitute the actual "construction costs" and shall be so referred to herein. "Estimated <br />costs" are good faith projections of costs which will be incurred for the Project. Actual costs <br />may vary from the estimated costs and actual costs are what the parties are responsible for. <br />B. Participation in the cost of construction is as follows: <br />1. The County shall pay for the following items up to a total capped amount of <br />$3,700,000: <br />• Twenty -five percent (25 %) of signal systems A, B, C, and D <br />• One hundred percent (100 %) of traffic control interconnect <br />• One hundred percent (100 %) of Bridge No 02817 <br />2. The City shall pay for all remaining items including the cost of the items shown <br />above in excess of $3,700,000. <br />3. The City shall pay for all construction engineering costs of the project. <br />C. The estimated construction costs for the Project is shown in the attached Exhibit <br />A. <br />D. Upon award of the contract, the County shall pay to the City, upon written <br />demand by the City, ninety -five percent (95 %) of its portion of the construction cost estimated at <br />$3,515,000.00. <br />2 <br />