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Agency Name <br />Master Agreement No. 64SantaAnaMA <br />Document (PA&ED) Right -of -Way (ROW), and Construction (CON) including <br />rolling stock) of a Project from start to finish. <br />B. Project Overrun <br />1. If Recipient or the State determine, at any time during the performance of <br />the Project, that the Project budget may be exceeded, Recipient shall take the <br />following steps: <br />a. Notify the designated State representative of the nature and <br />projected extent of the overrun and, within a reasonable period thereafter, <br />identify and quantify potential cost savings or other measures which Recipient will <br />institute to bring the Project Budget into balance; and <br />b. Identify the source of additional Recipient or other third -party funds <br />that can be made available to complete Project. Recipient agrees that the <br />allocation of the GGRF, SB 1 and/or General Funds is subject to the allocation <br />proposed by the CaISTA, submitted by the State, and approved by the CTC. <br />C. Cost Savings and Project Completion <br />1. Recipient is encouraged to evaluate design and construction alternatives <br />that would mitigate the costs of delivering the commitments for the Project. <br />Recipient shall take all steps necessary on a commercially reasonable basis that <br />would generally be taken in accordance with best management practices. In <br />determining cost savings, the Parties shall take into account all avoided costs, <br />including avoided design, material, equipment, labor, construction, testing, <br />acceptance and overhead costs and avoided costs due to time savings, and all <br />the savings in financing costs associated with such avoided costs. <br />2. If there is an identification and implementation of any CaISTA approved <br />alternative resulting in reduction of the Project costs, the parties agree that the <br />recipient shall provide a prorated share of Project or TIRCP funded Project <br />component cost savings based on the overall project match to the Department <br />no later than 30 days after the submission of the final invoice. Subject to CaISTA's <br />approval, savings may be used towards another project component or towards <br />increasing project benefits that are consistent with the original project award <br />while maintaining the overall project match referenced in the project award and <br />program supplements. <br />3. Program supplements will indicate the Project or Component proration of <br />funding match. <br />4. The Recipient agrees to complete the Project and accepts sole <br />responsibility for the payment of any cost increases. If either the Project or the <br />Revised as of 9/12/2024 Page 10 <br />