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MASTER FUNDING AGREEMENT NO. C-1-2783 <br />1 ARTICLE 3. RESPONSIBILITIES OF AUTHORITY <br />2 AUTHORITY agrees to the following responsibilities for funding of PROJECT(s): <br />3 A. AUTHORITY shall allocate M2 Net Revenues as specified in Ordinance No. 3 and pay <br />4 AGENCY in accordance with the policies and procedures contained in the CTFP manual and <br />5 AUTHORITY's Board of Directors approved PROJECT budgets. <br />6 B. AUTHORITY shall provide guidance and oversight of the M2, state and federal funds in <br />7 compliance with M2 eligibility guidelines, CTFP Guidelines, state and federal funding requirements and <br />8 allocation and reporting requirements. <br />9 C. Within thirty (30) days of receipt of an acceptable initial payment CTFP invoice and <br />10 within sixty (60) days for an acceptable final payment invoice for eligible expenditures, AUTHORITY <br />11 shall, in accordance with Chapter 10 of the CTFP Guidelines, remit to AGENCY the required <br />12 reimbursement for applicable planning, environmental, engineering, right-of-way and construction <br />13 activities. <br />14 D. AUTHORITY shall pay Net Revenues allocated for the Local Fair Share Program to <br />15 eligible AGENCY within sixty (60) days of receipt by AUTHORITY. <br />16 E. AUTHORITY shall process any required Federal Transportation Improvement Program <br />17 (FTIP) amendments, Subject to state and federal regulations and guidelines prepared by the Southern <br />18 California Association of Governments. <br />19 F. At the request of AGENCY, AUTHORITY shall, in accordance with AUTHORITY <br />20 specification and no cost to the AGENCY excluding installation and removal expenses, provide signage <br />21 for all construction PROJECT(s) that are in excess of FIVE HUNDRED THOUSAND DOLLARS <br />22 ($500,000) and exceed a ninety (90) day construction schedule. <br />23 G. AUTHORITY, or agents of AUTHORITY, may upon close-out of each PROJECT(s) <br />24 under this Agreement, perform an audit and or technical review to ensure that CTFP Guidelines policies <br />25 and procedures were followed. Such audit shall be performed within one hundred and eighty (180) <br />26 days of AUTHORITY receiving the final report for each PROJECT(s). If the audit or technical review <br />Page 4 of 10 <br />L:\CammWarvin\Cooperative Agreements\CTFP Master Funding Agreementftreements\C-1-2783 City of Santa Ana.docx <br />25E-6