Agmt13 San Mateo County Measure A Funds-Brewster Ave

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prepared, for the Project by the SPONSOR or any contractor or consultant of the SPONSOR. SPONSOR shall also make available to the TA upon request any professional service agreements, change orders and any other agreements that are entered into for the performance of Project related work and services. The SPONSOR shall provide copies of any documents described in this Section to the TA if the TA requests such documents. SPONSOR shall retain all records pertaining to the Project for at least three years after completion of the Project. 1.7 Audits. a) The TA, or its authorized agents, may, at any reasonable time during business hours, conduct an audit of the SPONSOR's performance under this Agreement. The SPONSOR shall permit the TA, or its authorized agents, to examine, inspect, make excerpts from, transcribe or photocopy books, documents,papers and other records of the SPONSOR which the TA reasonably determines to be relevant to this Agreement. b) SPONSOR shall transmit to the TA the Independent Auditor's Report prepared for SPONSOR's Comprehensive Annual Financial Report within thirty (30) days of receipt by SPONSOR. SECTION 2: Funding and Payment 2.1 Fundin� Commitment. The TA shall make available to the SPONSOR up to $734,000 for expenditures related to the Project("Project Costs") as provided in this Section 2. The SPONSOR will contribute, or provide for the contribution of, any amount in excess of$734,000 needed to complete the Project and must provide at least 20%of the total Project costs. The TA's funding commitment under this Agreement shall in no way establish a right in the SPONSOR to receive additional funding from the TA in connection with or related to this Project. All funding obligations of the TA under this Agreement are subject to downward adjustment based on actual sales taY receipts for the fiscal years indicated. 2.2 Use of Funds. New Measure A funds shall be used only for direct Project costs, which shall not include indirect costs such as agency overhead. SPONSOR agrees that it shall use funds provided pursuant to this Agreement to supplement existing revenue, that funds provided pursuant to this Agreement may not be used to replace other local t�es or revenues already programmed and available for use for the same purpose, and that the SPONSOR will use funds provided pursuant to this Agreement only for the Project. If the TA determines that the SPONSOR has used funds provided pursuant to this Agreement other than for the approved Project, the TA will notify SPONSOR of its determination. The SPONSOR shall, within thiriy (30) days of notification of the TA's determination, either(a) repay such funds to the TA, or(b)provide to the TA an answer detailing the SPONSOR's understanding of how the funds in question were spent for the approved Project, to which the TA will respond within thirty(30) days of receipt. The San Mateo County Transportation Authority/City of Redwood City ATTY/AGR/2013.007/BREWSTER FUNDING AGREEMENT REV:O1-11-13 VR Page 3 of 14