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ACTC: <br /> - Shall serve as project sponsor for the Davis Interchange Improvements. <br /> - Shall serve as fiscal agent and contracting entity for consultants and contractors for the Westgate /Davis <br /> Street Improvements. <br /> - Shall complete final planning, design, environmental and construction of the Davis Interchange <br /> Improvements and Westgate /Davis Street Improvements in coordination with the 1 -880 HOV Lane <br /> Improvements. <br /> - Shall implement the interchange improvements such that the resulting facilities will provide an <br /> acceptable Level of Service (LOS) for traffic in 2030 as determined by the COSL General Plan. <br /> - Shall implement as much as reasonably possible the aesthetic improvements using the Transportation <br /> Enhancement funds for the design of aesthetic improvements. <br /> - Shall retain all books, documents, papers, accounting records and other evidence pertaining to costs of <br /> all projects mentioned herein. <br /> SECTION IV <br /> It is mutually agreed: <br /> - All obligations of ACTC under the terms of this Agreement are based on the assumption that the <br /> remaining funds required for the Interchange Improvements will be provided by the COSL Measure B <br /> funds for ACTIA Project 18. <br /> - If there are any cost increases above the estimated Interchange Improvement costs, COSL and ACTC <br /> shall consult with each other to determine a course of action and cost responsibilities. Such determination <br /> will be incorporated into this MOU by a written amendment. <br /> - If upon opening of bids for the Project the lowest responsible bid exceeds the available funds provided <br /> by Measure B for the Westgate /Davis Improvements by more than ten percent (10 %), COSL shall <br /> endeavor to secure the necessary funds within 30 days. If after thirty (30) days the necessary funds are <br /> not secured per this MOU, the COSL and ACTC will work cooperatively to secure the necessary funds or . <br /> mutually agree to terminate the Agreement. <br /> - If termination of this Agreement is by mutual consent, the ACTC will return to COSL all <br /> Westgate /Davis Street Improvement funds from Measure B less the expenses were incurred by ACTC for <br /> the Westgate /Davis Street Improvement prior to that termination. <br /> - Upon completion of all work under this MOU, ownership and title to all materials, equipment and <br /> appurtenances installed within the State of California's (STATE) right -of -way will automatically be <br /> vested in the STATE and no further agreement will be necessary to transfer ownership. Ownership and <br /> title to all materials, equipment and appurtenances installed outside of the STATE's right of way will <br /> automatically be vested in the COSL. <br /> SECTION V <br />