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Agreement No. PW 52-08-96 <br />CSAH 15; C.P. 9222 <br />Upon final payment to the Contractor by the County, any amount remaining <br />as a balance in the deposit account will be returned to the City; likewise, <br />any amount due the County from the City upon final payment by the County shall <br />be paid by the City as its final payment for the construction and engineering <br />costs of said Project within forty five (45) days of receipt of an invoice <br />from the County. <br />All payments to the County must be postmarked by the date due or a late <br />penalty of one (1) percent per month, or fraction thereof, on the unpaid <br />balance will be charged to the City. The City shall pay the amount due as <br />stated on the statement, notwithstanding any dispute of such amount. Should a <br />disputed amount be resolved in favor of the City, the County shall reimburse <br />the disputed amount plus daily interest thereon calculated from the date such <br />disputed amount was received by the County. Daily interest shall be at the <br />rate of one (1%) percent per month on the disputed amount. <br />VIII <br />The County will prepare weekly progress reports as provided in the <br />specifications. Copies of these reports will be furnished to the City upon <br />request. <br />All records kept by the City and the County with respect to this Project <br />shall be subject to examination by the representatives of each party hereto. <br />The County reserves the right not to issue any permits for a period of <br />five (5) y»ars after completion of said Project for any service cuts in the <br />roadway surfacing of the County Highway included in this Project for any <br />installation of underground utilities which would be considered as new work; <br />service cuts shall be allowed for the maintenance and repair of any existing <br />underground utilities. <br />It is agreed that the City shall, at its own expense, remove and replace <br />all City owned signs that are within the construction limits of this Project. <br />Removal and replacement operations shall be coordinated with the construction <br />activities through the County’s Project Engineer. <br />- 5 -