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Standard Agreement DOT -213 City of Santa Ana 642572 Page 3 of 29 EXHIBIT B SECTION 5310 BUDGET DETAIL AND PAYMENT PROVISIONS 1. Invoicing and Payment A. Local Shara. The CONTRACTOR agrees that it will deposit funds with Bank of America In the amount specified within 90 days after signing Agreement (minus the amount required for locally procured other equipment). In accordance with FTA C 9070.1F, the local share may be derived from Federal programs that are eligible to be expended for transportation, other than DOT programs, or from Department of Transportation (DOT) Federal Lands Highway Program. The CONTRACTOR will be responsible for 100% of all costs which exceed the approved grant amount. In no event shall the STATE be obligated to contribute STATE funds toward the cost of the PROJECT. Deposit instructions shall be provided to the CONTRACTOR by the STATE. B. Local Match Deoosit. PROJECT equipment will not be procured by the STATE, on behalf of the CONTRACTOR, until the deposit of the CONTRACTOR'S local match has been verified by the STATE. Local Match deposit shall be deposited within 90 days of Agreement execution. C. Billing and Payment for Vehicle Procurement. Maximum vehicle funding limits shall be set by the STATE and shall apply to non - profit and public agencies without prejudice. Purchase order requirements are further detailed in Exhibit D, The Federal Share for all vehicle procurements shall not exceed 88.53 %0 of the grant amount identified. Non - Profit Agencies. The STATE Is required to order vehicles for non- profit agencies from a State approved Contract. The CONTRACTOR must deposit the local match In the designated Bank of America account before the vehicle is ordered. No further billing or payment is required of the CONTRACTOR. In the event a balance due is owed to the CONTRACTOR for any unused portion of the local match, the CONTRACTOR shall request a refund from Caltrans in writing. Caltrans will initiate the refund process with Bank of America. 2. Public Agencies. Payment for vehicles ordered by public agencies shall comply with the appropriate provision below: 91 a. Public agency CONTRACTORS that have a vehicle procured for them by the STATE will follow payment options Identified in Exhibit B above. b. Public agency CONTRACTORS, that purchase vehicles themselves from a State approved Contract, shall purchase vehicle in full from the vendor. Purchase order reimbursement requests from the CONTRACTOR for the Federal Share will be accepted and paid after the vehicle delivery is accepted by the STATE. c. Public agency CONTRACTORS, that complete their own procurement not from the State Contract, shall purchase vehicle in full from the vendor. Purchase order reimbursement requests from the CONTRACTOR for the Federal Share will be accepted and paid after the vehicle delivery is accepted by the STATE. d. Upon review and approval by the STATE, STATE agrees to reimburse the Public Agency CONTRACTOR for allowable costs not to exceed 88.53% of the approved grant amount upon receipt of a complete and correct invoice package including proof of payment which includes a preaward and post delivery audit, and otherwise meets the requirements of this Standard Agreement. Incomplete or disputed invoices shall be returned to Public Agency Contractor, unpaid, for correction. 20A -8 Rev. 03/25/2014