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Dist. Ak_.. No. 4-0941-C <br />determined as stipulated in that Agreement (Document No. <br />41-239230) entered into by STATE, SAN CARLOS and COUNTY on <br />November 2, 1971. <br /> <br /> SECTION III <br /> <br />REDWOOD CITY AGREES: <br /> <br /> (1) To deposit with STATE within 25 days of receipt of <br />notice from STATE that the construction contract for the <br />IMPROVEMENTS has Been advertised (which notice will be forwarded <br />immediately following the advertising), funds in the amount of <br />$246,000 in accordance with the terms and conditions of this <br />agreement. Said $246,000 represents REDWOOD CITY's estimated <br />share of the construction cost rcqnired to complete the <br />IMPROVEMENTS as shown o~ EXHIBIT B. Actaal cost to be borne by <br />REDWOOD CITY will be determined upon completion of all work and <br />shall be 58.88 percant of the total matching fund towsrds the <br />construction cost of said IMPROVEMENTS including STATE-furnished <br />materials, if amy, and any extra or additional work directly <br />related to the said IMPROVEMENTS. In no event shall REDWOOD CITY's <br />total obligation for construction costs including contract change <br />orders (excluding utility arrangement costs and protection, <br />relocation and/or removal costs, if any) under this agreement <br />exceed the amount of $295,000 p~ovided that REDWOOD CITY may, at <br />its sole discretion in writing, authorize a greater amount. <br /> <br /> (2) To deposit with STATE within 20 days of receipt of <br />billing, additional funds upon request by STATE to finance <br />contract change orders, if any, subject to the limitation set <br /> <br /> --6-- <br /> <br /> <br />