PROJ00493 - Laserfiche WebLink

Home Browse Search

defaults by the Contractor, through judicial proceedings to require specific performance of this contract, or by sink ^ther proceedings in law or equity as may be deemed necessary by the. State to ensure compliance with provisions of this contract and the laws and regulations under which this contract is entered into. C. The State agrees that it shall: 1. Loan to the Contractor for the construction of the project -an amount not to exceed One Million Eight Hundred Thousand Dollars ($1,800,000). Said One Million Eight Hundred Thousand Dollars ($1,800,000) shall be made available to the Contractor in accordance with the following terms and conditions: a. Commencing ten (10) days from the date of this contract and for every month thereafter until said project has been completed, the Contractor shall prepare, with the assistance of the Consultant referred to in paragraph A.l. above, an estimate of the funds required for project construction during that month and shall forward said estimate to the State not less than fifteen (15) days prior to the beginning of such month. b. Upon receipt and approval by the State of such monthly estimate, the State will, within forty (40) days from the receipt of such estimate, pay over to the Contractor the amount of the monthly estimate or such portion thereof as has been approved by the State. C. Project construction costs eligible for payment by the State shall be limited to the cost of: (1) Preparing final designs and specifications fcr.the project. (2) Preparing bid and construction contract documents. (3) Preparing environmental assessment or environmental impact statements, and otherwise complying with the Federal National Environmental Policy Act. (4) Complying with all Federal, State, and local regulatory requirements, including the obtaining of all required permits. Page !of 13 Pages