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wit: <br />NOW, THEREFORE, it is hereby agreed by and between the parties hereto as follows, to <br />1. The City shall be responsible for the design and construction of the entire Project. <br />Therefore, the parties agree that: <br />a. The City shall plan and design, advertise and receive bids, award the contract, <br />administer the construction and conduct inspections of the Project. SBM shall <br />have the right to approve the bid prior to award of the contract by the City if the <br />apparent low bid exceeds the engineer's estimated cost of the Project, as specified <br />below. SBM shall have the right to inspect, review and comment upon <br />construction of the Project. <br />b. SBM grants to the City the right to use its portion of Fire Station 1 and <br />immediately adjacent streets, public rights of way and easements in Mounds <br />View for purposes of constructing the Project. SBM agrees to cooperate with the <br />City in the completion of the Project. <br />2. SBM shall be responsible for the cost of all improvements made to SBM' s <br />parking area. Based upon the completed feasibility report, the estimated total <br />cost of SBM's portion of the Project is $106,713 which includes both estimated <br />construction costs and a 2 4 % allowance for engineering and administrative costs. <br />Actual SBM cost participation for its portion of the Project shall be as indicated in <br />the Statement of Estimated Quantities tabulation included in the final plans. <br />3. The City shall be responsible for the costs associated with the Project, less all costs <br />herein required to be borne by SBM. Based upon the completed feasibility report, <br />the estimated total cost for the City's portion of the Project is $687,403, which <br />includes both estimated construction costs and a 2 4 % allowance for engineering <br />and administrative costs. Actual City cost participation for its portion of the <br />Project shall be as indicated in the Statement of Estimated Quantities tabulation <br />included in the final plans. <br />4. Upon the completion of the Project, the City shall invoice SBM for the actual cost <br />of said participating improvements based upon the actual bid prices and final <br />The Mounds View Vision <br />A Thriving Desirable Community <br />