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1. SCOPE OF WORK <br />A. The City will be contracting with the lowest and best bidder to perform the Parking Lot <br />construction improvements pursuant to plans and specifications to be prepared by the City. The <br />work consists of capital improvements to the parking lot that includes resurfacing, new landscaping, <br />upgrading the irrigation system, enhancing the parking equipment and upgrading the lighting to <br />comply with current codes. The Agency is also seeking to upgrade the equipment by removing the <br />individual parking meters and installing a single pay station that will service the entire Parking Lot. <br />B. It is the responsibility of the City to pay all development and construction costs in <br />connection with these Publicly Owned Improvements from funds paid to the City by the Agency <br />under this Agreement. <br />C. The Agency authorized the City to collect all parking revenues from said Parking Lot on <br />behalf of the Agency and all money deposited in said parking meters/pay station shall be <br />deposited in a special fund, to be known as the "Parking Meter Fund," and shall be used <br />exclusively for the purchase, installation, maintenance, repair, servicing and policing of said <br />parking meters and pavement markings in the traffic zones wherein parking is regulated or <br />controlled by parking meters for the proper regulation of traffic, the elimination of traffic <br />violations upon the public streets of the city, for the elimination of traffic hazards, the <br />realignment, improvement and widening of streets to expedite orderly traffic movement, the <br />purchase, installation and maintenance of mechanical traffic-control devices, and the purchase or <br />lease and operation of land for off-street parking within <br />the City, or any of them, as the council may determine. <br />D. The City shall perform its obligations hereunder in accordance with all applicable <br />provisions of federal, state and local laws, including its obligation to comply with environmental <br />laws such as CEQA, and shall timely complete the work required for the Publicly Owned <br />Improvements referenced herein. <br />2. COMPENSATION AND METHOD OF PAYMENT <br />The Agency shall contribute to the construction of the Publicly Owned Improvements in an <br />amount not to exceed Two Hundred Sixty Two Thousand Seven Hundred Twenty Five Dollars <br />($262,725.00), with the breakdown of project costs as shown in Exhibit A attached hereto and <br />incorporated herein. The Agency shall pay the City the actual cost incurred by the City for the <br />Publicly Owned Improvement construction work set forth in Section 1. The amount to be paid by <br />the Agency hereunder shall be paid in the same fiscal year as the year in which the debts are <br />incurred by the City. <br />3. LIABILITY AND INDEMNIFICATION <br />In contemplation of the provisions of Section 895.2 of the Government Code of the State of <br />EXHIBIT 1 <br />G 2 A <br />