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U1/GU/UU '1'HU Ut1:44 t`AA ~U3 2f80 G64U uLUt a~uiuty c z <br /> 22. Agency's share of construction shalt be deposited in two parts. The initial deposit shall represent 65 <br /> percent of the Agency's share, based on the engineer's estimate and shall be requested three weeks <br /> prior to opening bids on the project. The contract will not be awarded until the deposit is received. <br /> Upon award of the contract, the balance of the Agency's share shall be requested and deposited with <br /> the State in a timely manner. <br /> <br /> ,i 23. Pursuant to ORS 366.425, the advance deposit may be in the form of 1) money deposited in the State <br /> Treasury (Local Government Investment Pool, and an Irrevocable Limited Power of Attamey is sent <br /> to ODOT's Financial Services Branch), or 2) an Irrevocable Letter of Credit issued by a local bank in . <br /> the name of the State. The deposit may also be in the form of cash. <br /> 24. Deposits may be applied to any phase of the project under the same agreement. <br /> I <br /> 25_ Additional deposits, if any, shall be made as needed upon request from the State. Requests for <br /> additional deposits shall be accompanied by an itemized statement of expenditures and an estimated <br /> j cost to complete the project. . <br /> i 26. Agency shall present invoices for 100 percent of actual costs incurred by Agency on behalf of.:the <br /> project directly to State's Liaison Person for review and approval. Such invoices shall identify the <br /> project and agreeriaent number, and shall itemize and explain all expenses for which reimbursement is . <br /> claimed. Bilaings shall be presented for periods of not Less than one-month duration, based on actual` <br /> expenses to date.. All billings.reeeived from Agency must be approved by State's Liaison Person . ~ : . <br /> prior to payment. Agency's. actual costs eligible for federal-aid or State participation shall: be those ~ ~ - <br /> allowable under the provisions of FApG, 23CFR 1.11, 710, and.140. Final billings shall be submitted ~ . <br /> to State for processing within three months from the end of each fimding phase as follows: 1) award <br /> l <br /> - - <br /> date of a construction contract for preliminary engmeenng 2) last payment for right of-way <br /> acquisition and 3) third notification for construction. Partial billing (progress payment) shall be <br /> submitted to State within three months from date that costs are incurred. Final billings submitted <br /> after the three months may not be eligible for reimbursement. <br /> 27. The cost records and accounts pertaining to work covered by this agreement are to be kept available <br /> _ for inspection by representatives of State and the FHWA for a period of. three (3) years following floe <br /> date of final voucher to FHWA. Copies of such records and accounts shall be made available upon <br /> request. For real property and equipment, the retention period starts firotu the date of disposition (49 <br /> CFR 18.42). . <br /> 28. If Agency should cause the project to be canceled or terminated for any reason prior to its <br /> completion, Agency agrees to reimburse State within three months of billing for any costs that have <br /> been incurred by State on behalf of the project. <br /> 29_ State shall request reimbursement, and Agency agrees to reimburse State, for federal-aid funds <br /> distributed to Agency if any of the following events occur: <br /> a) That right-of way acquisition or actual construction of the facility for which <br /> preliminary engineering is undertaken is not started by the close of the tenth 1=ascal <br /> year following the fiscal year in which the federal-aid funds were authorized; <br /> STDPR09$.doc 5 <br /> Rev_06-04-98 <br /> <br />