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

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AGREEMENT NO. FTA04A39 ATTACHMENT II Page 3 of 4 BFP-93-82 April 1, 1994 Page 3 G. that Recipient shall provide the Commission with an "Evaluation of Property Report". preferably by the time of Commission allocation action but not later than prior to execution of a fund transfer agreement,in compliance with Commission Policy G- 90-17, Rail Right-of-Way Review Policy, to be verified by the Department or its Agent; H. that Recipient shall post on the Project construction site(s) at least one sign,visible to the public, stating that the Project is partially funded with State grant rail passenger bond funds; I. that Recipient has provided the Commission, after consultation with its staff and prior to the execution of a fund transfer agreement which includes any Proposition 116 bond funding, a satisfactory work plan which includes milestones for specific activities related to completion of the transit integration plan prior to initiation of rail service; and 2.6 NOW THEREFORE BE IT FURTHER RESOLVED that this Commission shall be entitled to a then present value refund,or credit, at State's option, equivalent to the proportionate funding participation by the State towards property acquisition and project construction in the event that Recipient,or successor public entities,fail or cease to utilize the Project for the intended public passenger rail purposes or sells or transfers title to the Project. The credit for future purchases or condemnation of all or portions of the Project by the State, and the refund or credit due the Commission in each instance,will be measured by the ratio of State and other public funding to that provided from Recipient. That ratio will be applied to the then fair market value of the Project property; and 2.7 NOW THEREFORE BE IT FURTHER RESOLVED that if the Recipient receives any revenues or profits from any non-governmental use of property allowed pursuant to bond certification (whether approved at this time or hereafter approved by the State),the Recipient agrees that such revenues or profits shall be used exclusively for the public transportation services for which the project was initially approved,either for capital improvements or operating costs. If the Recipient does not so dedicate the revenues or profits, a proportionate share shall (unless disapproved by State's Bond Counsel) be paid to the State equivalent to the States percentage participation in the Project. Attachment