Agmt 2008 Association of Bay Area Governments ABAG

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cannot be, or is not required to be, complied with, fulfilled, accomplished or paid by the time the Project is completed, the Grantee shall state in a narrative format, the plan for future compliance or payment. G. If any portion of the construction to be funded under this Agreement will be performed by contractors, the Grantee shall implement, or cause to be implemented, a labor compliance program that meets the requirements of California Labor Code Section 1771.5(b). II. SIGNS The Grantee shall erect and maintain signs visible from the nearest public roadway directing the public to the Project. In addition, the Grantee shall erect signs acknowledging ABAG and Conservancy assistance and displaying the Bay Trail and Conservancy logos, unless the Grantee incorporates this acknowledgement into other signage in a manner approved by ABAG. ABAG shall provide specifications for the Conservancy and Bay Trail signs and logo to the Grantee for this purpose. Pursuant to paragraph II.B.2 of the Construction Grant Agreement and paragraph I.A of these Standard Provisions, plans describing the number, design, placement and wording of the signs shall be submitted to ABAG for review and written approval prior to the installation of signs. Final reimbursement may be withheld by ABAG pending placement of the signs in the manner approved by ABAG. III. BONDING If the Grantee intends to use any contractor(s) on any portion of the Project to be funded under this Agreement, construction shall not begin until each such contractor has furnished a performance bond in favor of ABAG and the Grantee, in the following amounts: for faithful performance, one hundred percent (100%) of the contract value; and for labor and materials, one hundred percent (100%) of the contract value. The requirement shall not apply to any contract for less than $20,000. IV. COSTS AND DISBURSEMENTS A. Upon determination by ABAG that all "CONDITIONS PRECEDENT TO CONSTRUCTION AND DISBURSEMENT" have been fully met, ABAG shall disburse to the Grantee, in accordance with the approved Project Budget, a total amount not to exceed the amount of this grant, as follows: The provision of this section with a check mark, 'Y' or equivalent mark opposite it will apply at the commencement of the Agreement. XPROGRESS PAYMENTS Disbursements shall be made on the basis of costs incurred to date, less ten percent (10%), upon satisfactory progress in accordance with the approved work program and upon the Grantee's submission of a "Request for Disbursement" form, which shall be submitted no more frequently than monthly but no less frequently than quarterly. Disbursement of the ten percent (10%) withheld shall be made upon the Grantee's satisfactory completion of construction of the Project and compliance with -4- Construction Grant Agreement - 2008