Common use of PAYMENT RESPONSIBILITIES Clause in Contracts

PAYMENT RESPONSIBILITIES. With regard to payment responsibilities under this Agreement, the parties agree to as follows: (A) The total project cost will include sidewalks, utilities, lighting, construction, black powder coating, trail, and barrier currently estimated at five million four hundred thirty-eight thousand two hundred ninety-one dollars ($5,438,291.00). The City will be responsible for Fifty percent (50%) of the cost of new sidewalks and utility relocation estimated at seven hundred sixty two thousand four hundred nine dollars ($762,409.50). The city is also responsible for one hundred percent 100% of the cost of Lighting and black powder coating of signs estimate at two hundred thirty seven thousand nine hundred thirty seven dollars ($237,937.00). The details of the estimated cost breakdown are listed in “Exhibit B”, which is attached hereto and made part hereof. The current estimate of the City's responsibilities is one million three hundred forty-six dollars and fifty cents ($1,000,346.