Res 1998-072 - Laserfiche WebLink

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County: Hays Highway: IH 35 in San Marcos Payment Provisions The Project consists of a ramp reconfiguration at the northbound entrance and exit ramps on IH 35 ftom Center Point Road to McCarty Lane, in San Marcoso The Outside Entity's cost for the work will be based on an actual cost estimated to be $225,808.86, including construction engineering costs, design review costs, bid opening costs and indirect costs at the rate in effect for the year in which the work will be performed. This estimated cost assumed the work proposed herein would be part of a separate and larger project to reconstruct the entire Centerpoint Road interchange. The estimated cost could vary depending on the final disposition of this separate project. In any case, the final Outside entity's cost shall be the actual cost of construction for the proposed work described in this agreement. The Outside Entity will remit to the Texas Department of Transportation, upon execution of the advance funding agreement, a check made payable to the Texas Department of Transportation in the total amount of$1,500.00, to be used towards design review costs. In the event it is determined that the funding provided by the Outside Entity is insufficient to cover the State's costs for the construction of the Project, the State will notify the Outside Entity of the required additional costs. The Outside Entity will have thirty (30) days to review the cost request and, at its sole option, perform an audit, at its own expense, on the costs incurred by the State and/or the designated contractor constructing the Project. Within said thirty (30) days review period, the Outside Entity will either agree to cover said costs or notify the State of its objections thereto and/or its determination through its audit of cost discrepancies. If the Project costs are less than the estimated amount, a refund will be made by the State to the Outside Entity. A final audit will complete the project and a determination of the remaining costs made at that time. Cost Breakdown Bid Items $167,500.00 Bid Item Contingencies $ 20,100.00 Estimated TxDOT Review Costs $ 1,500.00 Estimated Letting Costs $ 2,000.00 Construction Phase Engineering & Contingencies (11 %) $ 21.021.00 Sub-Total $212,121.00 Indirect Costs (7016%) = $ 15.187.86 Total = $227,308086 Amount due with execution of Agreement $ 1,500.00 Amount due sixty (60) days prior to Bid Opening $225,808.86 Page 9 of 9