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AGREEMENT <br /> <br /> THIS AGREEMENT, made and entered into this day of , <br /> <br /> 1982, by and between the State of Ohio, Department of Natural Resources and the <br /> Chief Engineer, Department of Natural Resources, hereinafter referred to as the <br /> STATE and the CitS of Lakewood, acting by and through its Mayor, hereafter <br /> referred to as the CITY, pursuant to Section 1507.05 and 1507.051 of the Ohio <br /> Revised Code. <br /> <br /> WITNESSETH THAT: <br /> <br /> WHEREAS, there is located in the City of Lakewood, at 12500 EdgeWater Drive, <br />~a private area of shore line contiguous to Lake Erie in which the operation, <br />~!maintenance and ownership is vested in the Waterford Condominium Owners' <br />~ Association. <br /> <br /> AND WHEREAS, said Association has petitioned the CITY to act as their agent <br />]with the STATE, for the purpose of jointly constructing a precast concrete <br />'·breakwater along the shoreline for protection of their properties against wave <br />~action caused by storms on Lake Erie. <br /> <br /> AND WHEREAS, the CITY by Resolution No. 5629 dated December 15,1981, has <br /> agreed to act as agent for the association and has made application to the STATE <br /> on behalf of the Waterford Condominium Owner's Association to jointly construct <br /> the erosion protection facilities. The need for protection being concurred in <br /> by the STATE. <br /> <br /> WHEREAS, funds for the STATE's share of the construction costs are <br /> available in the State Treasury, special account, and said funds are to be <br /> <br /> encumbered to the approved contractor after proper advertising and bidding of <br /> ~.the project by the CITY, as hereinafter set forth: <br /> <br /> NOW THEREFORE, in consideration of the mutual covenants by and between the <br /> <parties hereto, the parties agree as follows: <br /> <br /> 1. The CITY will provide construction plans and specifications to perform <br /> ithe project work and will advertise, contract and construct the project. The <br /> :final plans, specifications, and estimates prepared for the CITY, and endorsed <br /> by the officials responsible therefore, shall be submitted to the STATE for <br /> approval by the Chief Engineer and by the Director of the Department of <br /> Natural Resources. <br /> <br /> 2. The total estimated cost of this project is $210,000. The STATE <br /> <br /> .agrees to pay one-third of the actual total construction costs of $70,000, <br /> whichever is lesser, and the CITY agrees to pay two-thirds or $140,000. In no <br /> ,event shall the STATE's share of the project costs exceed $70.000. <br /> <br /> <br />