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NOW, THEREFORE, IT IS HEREBY AGREED BY THE PARTIES HERETO AS <br /> FOLLOWS: <br /> 1. GENERAL DESCRIPTION OF SERVICES AND OBLIGATIONS <br /> DU shall construct the Bridge as consideration for the Three Hundred Thousand <br /> Dollars ($300,000.00) contribution from the City. DU shall carry out the Project in <br /> accordance with this Agreement. The City Funds provided to DU under this Agreement <br /> are to be used solely for the construction of the Bridge and associated public access <br /> elements (as described in the Work Program) in accordance with the specifications set <br /> forth in the Work Program incorporated herein by this reference. <br /> 2. PAYMENTS <br /> In consideration of DU's performance of all the obligations and requirements <br /> under this Agreement, City shall pay from its CIP program funds Three Hundred <br /> Thousand Dollars ($300,000.00) ( "City Funds "). The City Funds are payable to DU as <br /> set forth in the Costs and Disbursements section of this Agreement. DU shall provide <br /> any funds beyond those granted under this Agreement which are needed to complete <br /> the Bridge. <br /> 3. CONDITIONS PRECEDENT TO CONSTRUCTION AND DISBURSEMENT <br /> DU shall not begin construction of the Project and the City shall not be obligated <br /> to disburse any funds unless and until the following conditions precedent have been met: <br /> A. DU has executed this Agreement. <br /> B. DU has provided written evidence to the City that DU has provided for <br /> required insurance coverage, including additional insured endorsement, as described in <br /> the "INSURANCE" section, below. <br /> C. A detailed Project budget (the "Project Budget "). The Project Budget <br /> shall describe all labor and materials costs to be incurred to complete the Project. For <br /> each Project component, the Project Budget shall list all intended funding sources, <br /> including grant funds, DU's required contribution and all other sources of monies, <br /> materials, or labor. <br /> D. DU shall submit a detailed work program to the City for review of its <br /> consistency with this Agreement. <br /> 4. WORK PROGRAM <br /> The work program shall include: <br /> A. Bridge construction plans and specifications which have been certified by <br /> a registered engineer. <br /> ATTY /AGR /2011.009 /DUCKS UNLIMITED <br /> 032511 revised final version <br /> 2 <br />