5.2. SR 03-07-1994 - Laserfiche WebLink

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e 71720 of $413,203.15, upon execution and approval of this agreement and upon receipt of a request from the state for such advancement of funds. section B. Final Payment bv the City Upon completion and acceptance of the contract construction and upon computation of the final amount due the state's contractor, the state shall prepare a Final SCHEDULE "I" based on final quantities of city cost participation construction performed, and shall submit a copy to the city. If the final cost of the City participation covered under this agreement exceeds the amount of funds advanced by the City, the city shall, upon receipt of a request from the State, promptly pay the difference to the State without interest. If the final cost of the City participation covered under this agreement is less than the amount of funds advanced by the City, the State shall promptly return the balance to the City without interest. e Pursuant to Minnesota statute section 15.415, the state waives claim for any amounts less than $2.00 over the amount of City funds , previously advanced to the state, and the City waives claim for the return of any amounts less than $2.00 of those funds advanced by the City. Section C. AcceDtance of city's Cost and ComDleted Construction The computation by the State of the amount due from the City shall be final, binding and conclusive. Acceptance by the State of the completed contract construction shall be final, binding and conclusive upon the City as to the satisfactory completion of the contract construction. e ARTICLE V - GENERAL PROVISIONS section A. Plan Chanaes The City may request changes in the plans. If the state determines that the requested plan changes are necessary and/or desirable, the state will cause those plan changes to be made. 6