AG 1998 07 13 - Laserfiche WebLink

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IV. ESTIMATED COSTS: This agreement is issued as a Cost Reimbursement Subcontract. In consideration of SUBCONTRACTOR'S performance, NCSU shall compensate SUBCONTRACTOR in an amount not to exceed $18,000. It is agreed between the parties that this sum shall represent the total amount of this Agreement, except as such amount may be amended in writing by mutual agreement of the parties. The amount set forth above will cover allowable and allocable direct and indirect costs of the work, as detailed in the approved budget in Appendix A. As a condition of this award, SUBCONTRACTOR agrees to provide cost sharing in the amount of $7,200. No federal funds may be used to meet the SUBCONTRACTOR'S cost sharing obligation for this project. The amount of cost sharing must be documented on at least an annual and cumulative basis or in accordance with the Prime Agreement and be certified by an authorized institutional representative, and reported to NCSU as part of the annual and final progress reports. V. PAYMENT: SUBCONTRACTOR shall submit itemized invoices in an original along with three (3) copies to NCSU not more frequently than Monthly. The invoices shall reference &tbcontract #98-0566-35. A final invoice must be received within 30 days after the completion of the project. Invoices shall be mailed to: Barbara Vandenbergh 4-H Youth Development 1200 Front Street, Suite 1 I0 Raleigh, NC 27609 NCSU, in its sole judgment, shall determine whether costs are allowable under this Subcontract in accordance with any applicable law and regulation. Costs for which prior approval is required will be contingent upon NCSU receiving like approval of these specific costs from the Prime Sponsor. In the event SUBCONTRACTOR is in noncompliance with Article X, NCSU may withhold payment of invoices pending resolution of the noncompliant issue. The SUBCONTRACTOR assumes the responsibility for reimbursement to NCSU a sum of money equivalent to the amount of any expenditures disallowed should the Sponsor or other authorized representative rule through audit exception or other formal review that the expenditures from funds allocated to the SUBCONTRACTOR for direct and/or indirect costs were not made in compliance with stated terms and conditions of this entire agreement. VI. REPORTS: All technical reports shall be submitted in accordance with the schedule provided in Appendix B or as requested by the Project Director. VII. KEY PERSONNEL: Dr. Eddie L. Locklear shall represent NCSU as Project Director and shall be responsible for overall technical matters relating to this Agreement. a:NCSUsubk,doc::: 980566.35 NCSU P. I.::: E. L. Locklear P.I.::: P. C. Outen