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F. The recommended actions provide an opportunity to affirm the use of bond <br />proceeds pursuant to the Official Statement and budgeted capital project funds for the Publicly <br />Owned hnprovements. <br />NOW, THEREFORE, the parties hereto do mutually agree as follows: <br />1. SCOPE OF WORK <br />A. The City will be contracting with the lowest and best bidder to perform the Parking <br />Structure/Lot construction improvements pursuant to plans and specifications to be prepared by the <br />City. The work consists of capital improvements to the parking structures/lots, architectural <br />upgrades for structural efficiency, ADA compliance, addition of new security systems and <br />installation of operational equipment within the Merged Project Area. <br />B. The City will be contracting for the implementation of the way-finding signage program <br />for the Downtown including, but not limited to, construction of signage for the parking structures <br />and public surface parking lots. <br />C. It is the responsibility of the City to pay all development and construction costs in <br />connecfion with these Publicly Owned hnprovements from funds paid to the City by the Agency <br />under this Agreement. <br />D. The City shall perform its obligations hereunder in accordance with all applicable <br />provisions of federal, state and local laws, including its obligation to comply with environmental <br />laws such as CEQA, and shall timely complete the work required for the Publicly Owned <br />Improvements referenced herein. <br />2. COMPENSATION AND METHOD OF PAYMENT <br />The Agency shall contribute to the construction of the Publicly Owned Improvements in an <br />amount not to exceed Nine Million Four Hundred Fifty Five Thousand Dollars ($9,455,000.00), <br />with the breakdown of project costs as shown in Exhibit A attached hereto and incorporated herein. <br />The Agency shall pay the City the actual cost incurred by the City for the Publicly Owned <br />Improvement construction work set forth in Section 1. The amount to be paid by the Agency <br />hereunder shall be paid in the same fiscal year as the year in which the debts are incurred by the <br />City. <br />3. LIABILITY AND INDEMNIFICATION <br />In contemplation of the provisions of Section 895.2 of the Government Code of the State of <br />California imposing certain tort liability jointly upon public entities solely by reason of such entities <br />being parties to an agreement as defined by Section 895 of said Code, the parties hereto, as between <br />themselves, pursuant to the authorization contained in Section 895.4 and 895.6 of said Code, will <br />