11/09/1998 Council Packet - Laserfiche WebLink

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following conditions shall govern the proportionate share of the Council Project to be reimbursed to Lino Lakes by the Council: 1. Costs for I -35E Crossing: a. The Council will reimburse Lino lakes for ninety percent (90 %) of the actual casing installation cost incurred by Lino Lakes. b. The Council will reimburse Lino Lakes for design services and construction observation in the amount equal to fourteen percent (14 %) of the actual construction cost for casing installation (6% for construction observation and 8% for design services). 2. Costs for Otter Lake Road realignment work: a. The Council will reimburse Lino Lakes for one hundred percent (100 %) of the actual casing installation cost incurred. b. The council will reimburse Lino Lakes for design services and construction observation in the amount equal to fourteen percent (14 %) of the actual construction cost for casing installation (6% for construction observation and 8% for design services). All direct payments to the Contractor for work performed on said project will be made by Lino Lakes. VI. Council will reimburse Lino Lakes in the amount provided in paragraph VI of this Agreement upon completion of the Council Project and acceptance of the Council Project by Council in accordance with the terms of this Agreement and submittal to Council of Lino Lakes' Engineers Final Estimate for the Council Project, and an invoice showing Council's final share in the costs for the project, and evidence of payment by Lino Lakes to its contractor for the Council Project. The Council shall have fifteen (15) days from the receipt of said invoice to review and contest the amount due. The amount due shall be final, binding and conclusive upon expiration of the aforesaid fifteen day examination period unless Council has contested the amount pursuant to this paragraph. In the event the Lino Lakes' Engineer or his staff determines the need to amend the contract with a supplemental agreement or change order in accordance with paragraph V of this agreement which results in an increase in the contract amount, the Council hereby agrees to remit Council's share as documented in the supplemental agreement or change order upon completion of the Council Project and acceptance of the Council Project by Lino Lakes in accordance with the terms of this Agreement and submittal to Council of Lino Lakes Engineer's Final Estimate 5