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80710 <br /> <br />Agreement and which have been approved in writing by the State <br />District Engineer's authorized representative. <br /> <br />Section E. Liquidated Damages <br /> <br />Ail liquidated damages assessed the City's contractor in connection <br />with the construction contract shall result in a credit shared by the <br />State and the City in the same proportion as their total construction <br />cost share covered under this Agreement is to the total contract <br />construction cost before any deduction for liquidated damages. <br /> <br />ARTICLE III - PAYMENT BY THE STATE <br /> <br />Section A. Estimate ~d Advancement of the State's Cost Share <br /> <br />It is estimated that the State's share of the costs of the contract <br />construction plus the 8 percent construction engineering cost share <br />and a $50,000.00 contingency amount is the sum of $573,440.20 as <br />shown in the attached Preliminary SCHEDULE "I" The attached <br />Preliminary SCHEDULE "I" was prepared using estimated unit prices. <br />Upon receipt and review of the construction contract bid documents <br />described in Article I, Section B. of this Agreement, the State shall <br />then decide whether to concur in the City's award of the construction <br />contract and, if so, prepare a Revised SCHEDULE "I" based on <br />construction contract unit prices. The contingency amount is <br />provided to cover overruns of the plans estimated quantities of State <br />cost participation construction and/or State-approved additional <br />construction including construction engineering costs. <br /> <br />After the following conditions have been met, the State shall advance <br />to the City the State's total estimated construction cost share, <br />which does not include the 8 percent construction engineering cost <br />share or the contingency amount, as shown in the Revised <br /> <br />SCHEDULE "I": <br /> <br />Encumbrance by the State of the State's total estimated <br />construction cost share, the 8 percent construction engineering <br /> <br /> <br />