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Utility Agreement No. 617.41 III. PERFORMANCE OF WORK Owner agrees to perform the herein-described work with its own forces and to provide and furnish all necessary labor, materials, tools and equipment required therefor, and to prosecute said work diligently to completion. IV. PAYMENT FOR WORK The State shall pay its share of the actual cost of said relocation within 90 days after receipt of an itemized bill in quintuplicate, signed by a responsible official of Owner's organization, compiled on the basis of the actual cost and expense. The Owner shall maintain ' ~records of the actual costs incurred and charged or allocated to the project in accordance with recognized accounting principles. It is understood and agreed that the State will not pay for any betterment or increase in capacity of Owner's facilities and that Owner shall give credit to the State for all accrued depreciation on the replaced facilities and for the salvage value of any material or parts salvaged and retained or sold by Owner. Upon completion of the work, and within 90 days after receipt of Owner's bill in quintuplicate, signed by a responsible official of Owner's organization, State will pay Owner the flat sum amount of $1,723.88. The above flat sum amount has been agreed upon between the State and the Owner and includes any credits due the State for betterment, depreciation, and salvage. V. GENERAL CONDITIONS Ail obligations of State under the terms of this Agreement are subject to the appropriation of funds by the State Legislature and the allocation of those funds by the California Transportation Commission. Ail costs accrued by Owner as a result of State's request of December 23, 1987 to review, study and/or prepare relocation plans and estimates for the project associated with this Agreement may be billed pursuant to the terms and conditions of this Agreement. If State's project which precipitated this Agreement is canceled or modified so as to eliminate the necessity of work by Owner, State will notify Owner in writing and State reserves the right to terminate this Agreement by Amendment. The Amendment shall provide mutually acceptable terms and conditions for terminating the Agreement. Owner shall submit a Notice of Completion to the State's District Utili%y Coordinator within 30 days of the completion of the work described herein. 2 ofg