4.7 SR 12-21-2020 - Laserfiche WebLink

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MnDOT Contract No.: 1044570 amount of its reimbursement to the State, the State will prepare a Final Schedule "I" and submit a copy to the City. The Final Schedule "I" will be based on final quantities, and include all City participation construction items and the construction engineering cost share covered under this Agreement. The Final Schedule "I" may also include City costs in an amount equal to all Federal aid funding not applied to the federally eligible City participation construction, State Furnished Materials, and associated construction engineering. If the final cost of the City participation construction exceeds the amount of funds advanced by the City, the City will pay the difference to the State without interest. If the final cost of the City participation construction is less than the amount of funds advanced by the City, the State will refund the difference to the City without interest. The State and the City waive claims for any payments or refunds less than $5.00 according to Minnesota Statutes § 15.415. 8.County Cost and Payment by the County 8.1.County Cost. $261,810.52 is the County's estimated share of the costs of the contract construction, State Furnished Materials and the construction engineering cost share as shown in the Preliminary Schedule "I". The Preliminary Schedule "I" was prepared using estimated quantities and unit prices, and may include any credits or lump sum costs. Upon award of the construction contract, the State will prepare a Revised Schedule "I" based on construction contract unit prices, which will replace and supersede the Preliminary Schedule "I" as part of this Agreement. 8.2.Conditions of Payment. The County will pay the State the County's total estimated construction and construction engineering cost share, as shown in the Revised Schedule "I", after the following conditions have been met: A.Execution of this Agreement and transmittal to the County, including a copy of the Revised Schedule "I". B.The County's receipt of a written request from the State for the advancement of funds. 8.3.Acceptance of the County's Cost and Completed Construction. The computation by the State of the amount due from the County will be final, binding and conclusive. Acceptance by the State of the completed contract construction will be final, binding, and conclusive upon the County as to the satisfactory completion of the contract construction. 8.4.Final Payment by the County. Upon completion of all contract construction and upon computation of the final amount due the State's contractor, the State will prepare a Final Schedule "I" and submit a copy to the County. The Final Schedule "I" will be based on final quantities, and include all County participation construction items and the construction engineering cost share covered under this Agreement. If the final cost of the County participation construction exceeds the amount of funds advanced by the County, the County will pay the difference to the State without interest. If the final cost of the County participation construction is less than the amount of funds advanced by the County, the State will refund the difference to the County without interest. The State and the County waive claims for any payments or refunds less than $5.00 according to Minnesota Statutes § 15.415. 9.Authorized Representatives Each party's Authorized Representative is responsible for administering this Agreement and is authorized to give and receive any notice or demand required or permitted by this Agreement. -9- Receivable Standard CE by Both Parties (Cooperative Agreements)