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i <br />2 <br />3 <br />a <br />s <br />s <br />a <br />9 <br />io <br />i� <br />�2 <br />13 <br />is <br />is <br />16 <br />n <br />�a <br />is <br />20 <br />21 <br />22 <br />23 <br />2a <br />25 <br />26 <br />AGREEMENT NO. C -1 -2630 <br />H. CITY agrees to revise E76 finance letter with submittal of contract award information <br />to Caltrans within 30 days of contract award to accommodate the required overall project local <br />match requirement and to de- obligate any TE funds that are not estimated to be needed for the <br />project based on the estimated project funding need at contract award. <br />1. CITY agrees that any cost overruns shall be the responsibility of the CITY. <br />J. CITY is responsible for completing the PROJECT in accordance with Exhibit A, timely <br />use of funds requirements, and to abide by all TE programming guidelines, State Transportation <br />Improvement Program Guidelines, and any and all other federal and state requirements related to <br />the TE. <br />K. CITY agrees that cost savings shall be distributed proportionally between TE and <br />local funding. <br />ARTICLE 5. DELEGATED AUTHORITY <br />The actions required to be taken by CITY in the implementation of this Agreement are <br />delegated to its City Manager, or designee, and the actions required to be taken by AUTHORITY in <br />the implementation of this Agreement are delegated to AUTHORITY'S Chief Executive Officer, or <br />designee. <br />ARTICLE 6. AUDIT AND INSPECTION <br />AUTHORITY and CITY shall maintain a complete set of records in accordance with generally <br />accepted accounting principles. Upon reasonable notice, CITY shall permit the authorized <br />representatives of the AUTHORITY to inspect and audit all work, materials, payroll, books, accounts, <br />and other data and records of CITY for a period of four (4) years after final payment, or until any on- <br />going audit is completed. For purposes of audit, the date of completion of this Agreement shall be <br />the date of Caltrans' payment of CITY'S final billing under this Agreement. AUTHORITY shall have <br />the right to reproduce any such books, records, and accounts. The above provision with respect to <br />audits shall extend to and /or be included in construction contracts with CITY'S contractor. <br />Page6of10 <br />LGamm\ CLERICAL \CLERICAL \WORDPROC\AGREE WG12630 <br />