FUNDING DISBURSEMENTS FOR PRELMINARY ENGINEERING, CONSTRUCTION AND CONSTRUCTION ENGINEERING Sample Clauses

FUNDING DISBURSEMENTS FOR PRELMINARY ENGINEERING, CONSTRUCTION AND CONSTRUCTION ENGINEERING. Upon receipt of the copy of the signed preliminary engineering contract between the COUNTY and its preliminary engineering consultant, the copies of the signed construction contract between the COUNTY and the contractor, and the signed construction engineering contract between the COUNTY and its construction engineering consultant, the STATE will issue payments to the COUNTY for seventy-five percent (75%) of the STATE’S SHARE of the cost of preliminary engineering, and for seventy-five percent (75%) of the STATE’S SHARE of the cost of construction and construction engineering for the PROJECT. If requested, the COUNTY may receive an extra fifteen percent (15%) of the STATE’S SHARE before final payment. For purposes of calculating these payments, the cost of preliminary engineering will be based on the maximum limiting amount of the executed preliminary engineering contract, and the cost of construction will be based on the contract amount set out in the executed construction contract, and the cost of construction engineering will be based on the maximum limiting amount of the executed construction engineering contract or the STATE’S estimate of the likely cost of construction engineering for the PROJECT, whichever is less. Upon completion of construction of the PROJECT, the COUNTY will provide the STATE with all documentation of preliminary engineering, construction and construction engineering costs, including contracts, amendments, construction change orders, pay estimates, progress reports, a summary of the QC/QA test results, and any other PROJECT documentation requested by the STATE. Upon receipt of all such documentation, the STATE will issue payment to the COUNTY for any remaining amount of the STATE’S SHARE of the actual eligible preliminary engineering, construction and construction engineering costs. If the STATE’S SHARE of eligible PROJECT preliminary engineering, construction and construction engineering is less than the funding advance made by the STATE, then the COUNTY will reimburse the STATE for the difference between the funding advance and the STATE’S SHARE of PROJECT preliminary engineering, construction and construction engineering.
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