Agmt 94 State of CA DOT Fund Transfer Agmt FTA04A39 Jefferson Ave grade sep

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Agreement No. FTA04A39 Sheet 6 of 13 payment under such contract STATE, the State Auditor General, the Federal Highway Administration, or any duly authorized representative of the Federal Government shall have access to any books, records, and documents that are pertinent to the Agreement for audits, examinations, excerpts, and transactions and copies thereof shall be furnished if requested. SECTION 4. RECIPIENT will insert clauses to the effect of Sections 1, 2 and 3 above of this Article IV in all of its contracts funded by STATE under these Provisions. SECTION 5. RECIPIENT and STATE agree to conduct, on a quarterly basis, on-site reviews of all aspects of the progress of the Project The first quarterly review meeting shall take place within 90 days following execution of this Agreement. RECIPIENT agrees, during each quarterly progress review, to inform STATE regarding (1)whether the Project is proceeding on schedule and within budget, (2) any requested changes to the Project Management Plan, (3) major construction accomplishments during the quarter, (4) any actual or anticipated problems which could lead to delays in schedule, increased costs or other difficulties, (5) the status of the Project Budget and, (6) the status of critical elements of the Project Section 6. It will be permissible for RECIPIENT to expend funds as needed and to move funds between expenditure categories and line items with maximum flexibility in accordance with revised budgets furnished prior to the actual expenditures. However, RECIPIENT shall notify and obtain approval from STATE of any proposed changes in excess of 10 percent in any expenditure category prior to actual expenditure. For proposed changes in excess of 20 percent in any expenditure category or for a reduction in proposed work or service levels, STATE approval shall be obtained and STATE will determine whether the proposed change is significant enough to warrant CTC review. Should the proposed change require any increase in State funds, the CTC and STATE must approve that change in advance of funds being expended.. SECTION 7. The quarterly reviews will include consideration of whether activities are within the scope of the Project and in compliance with State laws, regulations, administrative requirements, and implementation of the Project under this Agreement. SECTION 8. If RECIPIENT and STATE determine at any time during the performance of the Project, that the Project budget may be exceeded, RECIPIENT shall take the following steps: (1) Notify the designated STATE representative of the nature and projected extent of the overrun and, within a reasonable period