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Agreement <br />Old Crystal Bay Road <br />e. The School further agrees that it will participate in the settlement of any claims from the <br />City's contractor that involve delays attributable to unreasonable delays in approval by the School for <br />plan or specification changes deemed necessary by the City Engineer or staff. The amount of <br />School's participation in any such claims shall be commensurate with the percentage of delay directly <br />attributable to the School's actions. <br />f. The School shall provide all necessary permanent and temporary (Construction) easements <br />required for the construction of the Project. Said property rights shall be granted at no cost to the <br />City. <br />4. Financial Duties <br />a. The School shall participate in the costs of the contracted construction work for the Project as <br />set forth in said Exhibit "B". The respective proportionate shares of the pro -rata pay items included <br />in Exhibit "B" shall remain unchanged throughout the life of this Agreement. For informational <br />purposes only it is estimated that the School will pay the City $777,169.77 as its share of the <br />construction costs. For informational purposes only it is estimated that the City of Orono will pay <br />$2,831,317.77 as its share of the construction costs. <br />b. The School also agrees to reimburse the City for the School's proportionate share of the design <br />and construction engineering costs for the Project. The School's share of construction engineering <br />costs shall be equal to no more than 25% of the total final amount of the School's share of contract <br />construction costs for the Project. The amount of the School's share in the contract administration <br />costs is estimated $124,426.80. The amount of the City's share in the contract administration costs is <br />estimated $367,573.20. <br />c. It is understood that the School's proportionate shares shown in Exhibit `B" are estimates and <br />that the actual School's proportionate shares of the engineering design costs and contract <br />administration costs will be computed using the total final amount of the School's share of the <br />contract construction costs for the Project. It is further understood and agreed that the final quantities <br />as measured by the City Engineer's designated representatives for contract pay items in which the <br />School is participating in the cost shall be subject to the review and approval by the School's <br />designated representative. <br />d. School agrees to repay the City for its share of the project. The City will initially pay for the <br />entire project with the School repaying its portion over a period of 9 years. An interest rate of 2% <br />shall be applied to the balance of the amount the School owes the City. <br />5. Maintenance Responsibilities. <br />a. It is understood and agreed that upon completion of the Project, all of the project improvements <br />within the School property shall be the property of the School and all maintenance, restoration, repair <br />or other work or services required thereafter shall be performed by the School at no expense to the <br />City. Further any stormwater features such as catch basins that are located in the access ways or lead <br />pipes attaching School catch basins to the City's stormwater system but within the City right of way <br />-3- <br />197666v1 <br />