1999 AGN JUN 01 I09 - Laserfiche WebLink

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1999-129 4) Promptly upon completion of PROJECT and all work incidental thereto, to furnish COLTON and DISTRICT with a copy of SAN BERNARDINO'S report of completion containing a detailed statement of the total design, construction engineering and construction costs to be borne by COLTON and DISTRICT, including resolution of any construction -related claims which may have been filed by SAN BERNARDINO'S contractor; 5) To retain or cause to be retained for audit by COLTON or DISTRICT or other government auditors for a period of three (3) years from the date of final payment, all records and accounts relating to construction of the PROJECT. SECTION II COLTON agrees: 1) To pay COLTON'S share of costs within 10 days of receipt of billing therefor, i.e. an amount equal to 33-1/3% of the design, construction engineering and construction costs. COLTON'S total obligation for said anticipated project costs exclusive of claims shall not exceed the amount of $35,333.33; provided that COLTON may, at its sole discretion, in writing, authorize a greater amount; 2) After opening of bids for the PROJECT, and if bids indicate that a cost overrun of no more than fifteen percent (15%) of the estimate will occur, SAN BERNARDINO may award the contract; 3) If, upon opening of the bids, it is found that a cost overrun exceeding fifteen percent (15%) of the estimate will occur, SAN BERNARDINO, COLTON and DISTRICT shall endeavor to agree upon an alternative course of action. If, after 30 days after bid opening, an alternative course of action is not agreed upon by all three parties, this Agreement shall be deemed tc be terminated by mutual consent; 4) Prior to award of the construction contract for the PROJECT, and in sufficient time to allow SAN BERNARDINO to reject all construction bids therefor, COLTON may terminate this Agreement in writing, provided that COLTON pays SAN BERNARDINO for all costs incurred by SAN BERNARDINO under this Agreement prior to termination; 5) If termination of this Agreement is by mutual consent, COLTON will bear 33-1/3% of all costs incurred prior to termination.