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�I.3A7 <br /> share in the costs of the Project as hereinafter set forth. <br /> 3. COST ALLOCATION. REDWOOD CITY hereby agrees to reimburse <br /> BELMONT for REDWOOD CITY's proportionate share of costs incurred to design the <br /> Interchange Improvements portion , as shown in Exhibit B, of the Project. Project costs <br /> incurred in design of the Island Park Direct Access Improvements, as shown in Exhibit B, <br /> shall be paid for by BELMONT. It is estimated that REDWOOD CITY's pro-rata share of <br /> the costs of the Project will be 50% of the contract price shown in Exhibit A. <br /> BELMONT shall bill REDWOOD CITY on a monthly basis during the term of the <br /> Project. Payment shall be made by REDWOOD CITY within thirty (30) days of each <br /> billing. At the completion of the Project, a review of all costs shall be done to determine if <br /> REDWOOD CITY has paid the amount equal to the actual costs of design work for the <br /> Interchange Improvements portion of the Project. If additional amounts or refunds are <br /> due, said payments or refunds shall be tendered within thirty (30) days of the completion <br /> of the Project review. The parties agree that the final costs are not to exceed the <br /> foregoing estimated amount. <br /> 4. PERFORMANCE. Upon execution hereof by REDWOOD CITY, BELMONT <br /> shall proceed, by and through its Consultant, with the Project. <br /> 5. HOLD HARMLESS. To the extent permitted by law, each party (as <br /> "Indemnitor") shall indemnify, defend and hold the other party (as "Indemnitee") harmless <br /> from and against any and all claims, demands and causes of action by third parties for <br /> personal injuries (including loss of life) or property damages (including loss of use <br /> a�r„r_3Ho <br /> Sh/n+�c/Council/Aemt <br /> FXS:djk <br /> 08/02/00 <br /> -3- <br /> _ _._.� ., _ _ ._._.__ . .. _____ � _. <br />