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FUNDING <br />4. The County shall reimburse the Department one hundred percent (100 %) of the actual cost of all <br />work performed by the Department, including administrative costs. Based on the estimated cost <br />of $1,200,000.00, the County shall submit a check to the Department's Division Engineer for <br />$825,000.00 upon execution of this Agreement by the County. Upon completion of the project, if <br />actual costs exceed the amount of payment, the County shall reimburse the Department any <br />underpayment within sixty (60) days of invoicing by the Department. If the actual cost of the work <br />is less than $1,200,000.00, the Department shall reimburse the County any overpayment. The <br />Department shall charge a late payment penalty and interest on any unpaid balance due in <br />accordance with G.S. 147- 86.23. <br />UTILITIES <br />5. The Department shall accomplish the relocation and/or adjustment of any and all utilities in <br />conflict with the construction of the project. Said work shall be accomplished in a manner <br />satisfactory to the Department. <br />CONSTRUCTION AND MAINTENANCE <br />6. The Department shall construct, or cause to be constructed, the Project in accordance with the <br />plans and specifications of said Project as filed with, and approved by, the Department. The <br />Department shall administer the construction contract for said Project. <br />7. It is further agreed that upon completion of the Project, the Department shall be responsible for all <br />traffic operating controls and devices which shall be established, enforced, and installed and <br />maintained in accordance with the North Carolina General Statutes, the latest edition of the <br />Manual on Uniform Traffic Control Devices for Streets and Highways, the latest edition of the <br />"Policy on Street and Driveway Access to North Carolina Highways ", and Departmental criteria. <br />8. Upon completion of the Project, the improvement(s) shall be a part of the State Highway System <br />and owned and maintained by the Department. <br />ADDITIONAL PROVISIONS <br />9. The Department shall not be liable and shall be held harmless from any and all claims that might <br />arise on account of the County negligence and/or responsibilities under the terms of this <br />agreement and/or project. <br />Agreement ID # 4522 2 <br />Attachment number 2 <br />F -7 Page 91 <br />