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PAGE 2 OF 12 <br /> <br /> Section 2. Scope of Project. The Contractor shall undertake and complete the Project in <br />accordance with the project application and the Transportation Development Plan for the <br />COUNTY OF CABARRUS, and the procedures and guidelines set forth in Office of <br />Management and Budget (OMB) Circular A-102, Grants and Cooperative Agreements with <br />State and Local Governments (49 CFR 18). The aforementioned documents, and any <br />subsequent amendments or revisions theret°, are herewith incorporated by reference, and are <br />on file with and approved by the Department in accordance with the terms and conditions of this <br />Agreement. <br /> <br /> Section 3. Period of Performance. The Contractor shall commence, carry on, and <br />complete the Project with all practicable dispatch in a sound, economical, and efficient manner. <br />The period of performance for all expenditures shall extend from July 1, 2002 to June 30, 2003 <br />Unless written authorization to the contrary is provided by the Department. The provisions cited <br />in the Agreement shall remain in effect until the Contractor has satisfactorily disposed of all <br />Project equipment in accordance with Sections 11 or 15 of this Agreement. <br /> <br /> Section 4. Cost of Project. The total cost of the Project, approved by the Department, is <br />FOUR HUNDRED 'FVVENTY THOUSAND ONE HUNDRED EIGHTY-SEVEN DOLLARS <br />($420,187) as set forth by Appendix A, Project Description and Budget. <br /> <br /> (a) State Share. The Department shall provide, from State funds, (90%) percent of the <br />actual net cost of the project, not in excess of THREE HUNDRED SEVENTY-EIGHT <br />THOUSAND ONE HUNDRED SIXTY-EIGHT DOLLARS ($378,168). <br /> <br /> (b) Local Share. The Contractor hereby agrees that it will provide ('10%) percent of the <br />actual net cost of the Project and any amounts in excess of the Department's maximum. The <br />net cost is the price paid minus any refunds, rebates, or other items of value received by the . <br />Contractor which have the effect of reducing the actual cost. The Contractor shall initiate and <br /> <br />prosecute to completion all actions necessary to enable it to provide its share of the Project <br />costs at the time directed <br /> <br /> <br />