8864-16 Signalization Upgrade Along Hilliard & Franklin

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PID No. 82797 — Contract SECTION III: LEGAL REFERENCES This contract is established pursuant to Chapter 5521 of the Ohio Revised Code, SECTION IV: SCOPE OF WORK The work to be performed under this contract shall consist of the following: The project consists of the construction of interconnect traffic signals along Hilliard Road and Franklin Boulevard, lying within the City of Lakewood. SECTION V: FINANCIAL PARTICIPATION The STATE agrees to provide the necessary funds as enumerated in this section and allowed by law for the financing of this project. 2. The STATE may allocate the money contributed by the LPA in whatever manner it deems necessary in financing the cost of construction, right -of -way, engineering, and incidental expenses, notwithstanding the percentage basis of contribution by the LPA. 3. The total cost and expenses for the project are only an estimate and the total cost and expenses may be adjusted by the STATE. If any adjustments are required, payment of additional funds shall correspond with the percentages of actual costs when said actual costs are determined, and as requested, by the Director of Transportation. 4. The LPA agrees to pay to the STATE its share of the total estimated cost expense for the above highway project in the amount of Five Hundred Nine Thousand Seven Hundred Fifty Four and - - - - 001100 Dollars, ($509,754.00). 5. The City agrees to assume and bear one hundred percent (100 %) of the entire cost of the improvement, less the amount of Federal -Aid NOACA funds set aside by the Director of Transportation for the financing of this improvement from funds allocated by the Federal Highway Administration, U. S. Department of Transportation, and further, the City agrees to assume and bear one hundred percent (100°/x) of the cost of Preliminary Engineering and Right of Way, excluding in -house preliminary engineering and right of way cost incurred by the State. 6. The LPA agrees to assume and bear One Hundred Percent (100 %) of the cost of any construction items required by the LPA on the entire project, which are not necessary for the improvement, as determined by the State and Federal Highway Administration. 7. The LPA agrees that change orders and extra work contracts required fulfilling the construction contracts shall be processed as needed. The STATE shall not approve a change order or extra work contract until it first gives notice, in writing, to the LPA. The LPA shall contribute its share of the cost of these items in accordance with other sections herein.