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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />NOW, THEREFORE, it is mutually understood and agreed by AUTHORITY and CITY <br />as follows: <br />ARTICLE 1. COMPLETE AGREEMENT <br />AGREEMENT, including all exhibits and documents incorporated herein and made <br />applicable by reference, constitutes the complete and exclusive statement of the terms and <br />conditions of the Agreement between AUTHORITY and CITY concerning the PROJECT and <br />supersedes all prior representations, understandings, and communications between the <br />parties. The above-referenced Recitals are true and correct and are incorporated by reference <br />herein. <br />ARTICLE 2. RESPONSIBILITES OF AUTHORITY <br />AUTHORITY agrees to the following responsibilities for the PROJECT: <br />A. To approve scope, schedule and budget proposed by CITY for each <br />PROJECT MILESTONE within 30 days by AUTHORITY staff. <br />B. To reimburse CITY monthly up to an amount not-to-exceed Five Million, Nine <br />Hundred Thousand Dollars ($5,900,000.00) for actual eligible costs for the PROJECT <br />consistent with PROJECT MILESTONE approval. <br />C. To approve each PROJECT MILESTONE prior to CITY's advancement to <br />subsequent PROJECT MILESTONE. Approval will be subject to action by AUTHORITY <br />Board of Directors and is anticipated to require 30-60 days. Upon CITY's completion of <br />PROJECT, evaluate the Alternatives Analysis, including technical studies, and draft EIR/EA <br />in anticipation of CITY's request for advancement into Step Three of the Go Local Program. <br />D. To reimburse for actual eligible costs upon AUTHORITY approval of PROJECT <br />MILESTONES including consultant contracts and project management oversight (including <br />consultant contracts and/or CITY staff) which shall not exceed 15 percent of actual <br />expenditures. <br /> <br />Page 3 of 10 <br />