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<br /> .- s5'G- <br /> 5.07 Upon the completion of the Project, the SMCISD will deed <br /> the street right-of-way to the City. <br /> ARTICLE 6 <br /> COST SHARING <br /> 6.01 General Aqreement. The parties hereto hereby agree to <br /> share in the cost and expenses incurred in the construction of <br /> the Project in accordance with the terms and provisions set <br /> forth in this Article 6. The costs that will be shared will <br /> include only the actual costs of construction payable by <br /> SMCISD as the Owner under the Construction Contract for the <br /> Project and will not include the costs incurred by the City in <br /> preparing the plans and specifications or the costs incurred <br /> by the SMCISD in serving as Project Manager. <br /> 6.02 Cost Contribution. Within five (5) days after the <br /> <br /> execution of this Agreement by each party, each party will <br /> deliver to the SMCISD, as the Project Manager¡ each party's <br /> share of the costs to be allocated toward the construction of <br /> the Project. Each party¡s share of the cost is as follows: <br /> Party Amount <br /> SMCISD $100¡aoo.00 <br /> City $100¡000.00 <br /> County $ 20,aOO.00 <br /> 6.03 Administration of Funds. Upon receipt of the funds from <br /> each party to this Agreement as set forth in Paragraph 6.02 <br /> above¡ the SMCISD, as a Project Manager¡ shall deposit said <br /> funds into an account at a banking institution selected by the <br /> -8- <br /> INTERLOCAL AGREEMENT FOR ROADWAY IMPROVEMENTS <br />