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Dist. Ag-c. No. 4-0941-C <br />notwithstanding other provisions of this agreement. <br /> <br /> (3) That STATE shall not award a contract for the work <br />unless and ontil after receipt of COUNTY's deposit required in <br />Section II, Article (1) and until after receipt of REDWOOD CITY's <br />deposit as required Jn Section III, Article (1) and until after <br />receipt of SAN CARLOS/ deposit as required irt Section IV, &rticle <br /> <br />(~). <br /> <br /> (~) After opening of bids, COUNTY's, REDWOOD CITY's <br /> <br />and SAN CARLOS' eetimate of cost will be revised based on actual <br />bid prices. COUNTY's deposit required in Section II, Article (1), <br />REDWOOD CITY's deposit required in Section III, Article (1) and <br />SAN CARLOS' deposit reqnired in Section IV, Article (1) will be <br />increased of decreased in accordance with the respective percentage <br />of matching funds of each agency to match said revised estimate. <br />If deposit increase or decrrase is less than $1,000, no refund or <br />de,and fer additiop~] deposit will be made until final acconnting. <br /> <br /> (5) After opening bids for the IMPROVEMENTS and if bids <br />are not more than 20 percent over the Engineers Estimate~ STATE <br />may award the contract. <br /> <br /> (6) If, upon opening of bids, it is found that the <br />lowest responsible bid exceeds the Engineers Estimate by more than <br />20 percent, STATE, COUNTY, REDWOOD CITY and SAN CARLOS shall <br />endeavor to agree upon an alternative course of action. If STATE, <br />COUNTY, REDWOOD CITY and SAN CARLOS cannot agree upon an <br />alternatfve course of action within 30 days, this agreement will <br />be considered terminated subject to the provisions of the <br /> <br /> <br />