CALIFORNIA, STATE OF (DEPARTMENT OF TRANSPORTATION)

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Agency Name Master Agreement No. 64SantaAnaMA Document (PA&ED) Right-of-Way (ROW), and Construction (CON) including rolling stock) of a Project from start to finish. B. Project Overrun 1. If Recipient or the State determine, at any time during the performance of the Project, that the Project budget may be exceeded, Recipient shall take the following steps: a. Notify the designated State representative of the nature and projected extent of the overrun and, within a reasonable period thereafter, identify and quantify potential cost savings or other measures which Recipient will institute to bring the Project Budget into balance; and b. Identify the source of additional Recipient or other third-party funds that can be made available to complete Project. Recipient agrees that the allocation of the GGRF, SB 1 and/or General Funds is subject to the allocation proposed by the CaISTA, submitted by the State, and approved by the CTC. C. Cost Savings and Project Completion 1. Recipient is encouraged to evaluate design and construction alternatives that would mitigate the costs of delivering the commitments for the Project. Recipient shall take all steps necessary on a commercially reasonable basis that would generally be taken in accordance with best management practices. In determining cost savings, the Parties shall take into account all avoided costs, including avoided design, material, equipment, labor, construction, testing, acceptance and overhead costs and avoided costs due to time savings, and all the savings in financing costs associated with such avoided costs. 2. If there is an identification and implementation of any CaISTA approved alternative resulting in reduction of the Project costs, the parties agree that the recipient shall provide a prorated share of Project or TIRCP funded Project component cost savings based on the overall project match to the Department no later than 30 days after the submission of the final invoice. Subject to CaISTA's approval, savings may be used towards another project component or towards increasing project benefits that are consistent with the original project award while maintaining the overall project match referenced in the project award and program supplements. 3. Program supplements will indicate the Project or Component proration of funding match. 4. The Recipient agrees to complete the Project and accepts sole responsibility for the payment of any cost increases. If either the Project or the Revised as of 9/12/2024 Page 10