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AGREEMENT NO. C-1-2630 <br />1 H. CITY agrees to revise E76 finance letter with submittal of contract award information <br />2 to Caltrans within 30 days of contract award to accommodate the required overall project local <br />3 match requirement and to de-obligate any TE funds that are not estimated to be needed for the <br />4 project based on the estimated project funding need at contract award. <br />5 I. CITY agrees that any cost overruns shall be the responsibility of the CITY. <br />6 J. CITY is responsible for completing the PROJECT in accordance with Exhibit A, timely <br />7 use of funds requirements, and to abide by all TE programming guidelines, State Transportation <br />8 Improvement Program Guidelines, and any and all other federal and state requirements related to <br />s the TE. <br />10 K. CITY agrees that cost savings shall be distributed proportionally between TE and <br />11 local funding. <br />12 ARTICLE 6. DELEGATED AUTHORITY <br />13 The actions required to be taken by CITY in the implementation of this Agreement are <br />14 delegated to its City Manager, or designee, and the actions required to be taken by AUTHORITY in <br />15 the implementation of this Agreement are delegated to AUTHORITY's Chief Executive Officer, or <br />16 designee. <br />17 ARTICLE 6. AUDIT AND INSPECTION <br />18 AUTHORITY and CITY shall maintain a complete set of records in accordance with generally <br />19 accepted accounting principles. Upon reasonable notice, CITY shall permit the authorized <br />20 representatives of the AUTHORITY to inspect and audit all work, materials, payroll, books, accounts, <br />21 and other data and records of CITY for a period of four (4) years after final payment, or until any on- <br />22 going audit is completed. For purposes of audit, the date of completion of this Agreement shall be <br />23 the date of Caltrans' payment of CITY's final billing under this Agreement. AUTHORITY shall have <br />24 the right to reproduce any such books, records, and accounts. The above provision with respect to <br />25 audits shall extend to and/or be included in construction contracts with CITY's contractor. <br />26 / <br />Page 6 of 10 <br />L.Camm\CLERICAL?CLERICALIWOROPROC AGREEIAG12630 <br />20A-8