01-08-2018 Council Packet - Laserfiche WebLink

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Agreement No. PW 56-32-17 CSAH 112; C. P. 091102 It is understood that the Cities' proportionate shares shown in Exhibit "A" are estimates and that the actual Cities' proportionate shares of the engineering design costs and contract administration costs will be computed using the total final amount of the Cities share of the contract construction costs for the Project. VIII After an award by the County to the successful bidder on the Project, the County shall invoice the City of Long Lake for ninety five (95) percent of the estimated city's shares in the contract construction costs and engineering costs for the Project. Payments shall be made to the County, in the name of the Hennepin County Treasurer, by the City of Long Lake for the full amount due stated on the invoices within forty five (45) days of the invoice date. Said estimated city's shares shall be based on actual contract unit prices applied to the estimated quantities shown in the plans. After an award by the County to the successful bidder on the Project, the County shall invoice the City of Orono for ninety five (95) percent of the estimated city's shares in the contract construction costs and engineering costs for the Project. Payments shall be made to the County, in the name of the Hennepin County Treasurer, by the City of Orono for the full amount due stated on the invoices within forty five (45) days of the invoice date. Said estimated city's shares shall be based on actual contract unit prices applied to the estimated quantities shown in the plans. In the event the County Highway Engineer or County staff determines the need to amend the construction contract with a supplemental agreement or change order which results in an increase in the contract amount for the Project, the Cities hereby agrees to remit within forty five (45) days of notification by the County of said change an amount equal to ninety five (95) percent of the estimated Cities' shares as documented in the supplemental agreement or change order. The remainder of the Cities' shares in the engineering and contract construction costs of the Project, including additional costs resulting from supplemental agreements and change orders, will be due the County upon acceptance by the County's construction engineer of all the construction work performed by the County's construction contractor and submittal of the County Highway Engineer's final estimate for the Project to the City. Upon final payment to the Project contractor by the County, any amount remaining as a balance in the deposit account will be returned to the Cities, within 45 days, on a proportionate basis based on the Cities' initial deposit amount and the Cities' final proportionate share of the Project costs. Likewise, any amount due the County from the Cities upon final payment by the County shall be paid by the Cities as its final payment for the construction and engineering costs of the Project within forty five (45) days of receipt of an invoice from the County. IX The City of Orono or its agents will develop all the necessary construction plans, specifications and proposals for the afore -referenced Landscape Project. The construction documents -5-