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a. Budget. <br />The total cost of the Project is anticipated not to exceed the sum of $3.1 Million <br />("Project Cost") based upon actual costs incurred to date and bids received for road <br />construction. In general, South Bend and Mishawaka shall apportion the Project Cost as <br />follows: <br />South Bend $1.7 Million <br />Mishawaka $1.4 Million <br />Mishawaka's share of the Project Cost shall be in the form of a loan to the City of <br />South Bend and direct contribution as described in Section II, below. A more detailed <br />description of the Project budget is attached hereto and incorporated herein as E.rliibit <br />"B" ("Source and Use of Project Funds"). <br />b. Duties of South Bend. <br />South Bend hereby agrees as follows: <br />i. South Bend has retained Abonmarche Consultants, Inc., a consulting <br />engineering firm with the expertise in design and construction of <br />similar projects. Working through the developer selected for the <br />Project, Holladay Corporation, Abonmarche Consultants has prepared <br />the plans and specifications for the Project. The plans and <br />specifications have been shared with the Mishawaka City Engineer for <br />review and comment. <br />ii. To expedite the Project, South Bend has paid certain costs] which shall <br />be deducted from South Bend's above-listed pro-rata share of the <br />Project Cost. South Bend shall pay the balance of its pro-rata share of <br />the Project Cost in accordance with this Agreement. <br />iii. Subject to the Project Funds identified for the Project as described in <br />Ex/~ibit "B ", South Bend shall enter into any construction contracts or <br />make right of way or easement or other purchases reasonably <br />necessary to complete the Project. <br />iv. South Bend shall supervise and administer all necessary contracts with <br />the design consultant and any construction contractor. <br />v. The Controller for the City of South Bend shall have the duty of <br />receiving, discharging, and accounting for all the monies of this joint <br />undertaking and shall make payments upon authorization from South <br />Bend's Board of Public Works. <br />3 <br />F:1.*.\Projects\BPW\Douglas Road_Interlocal Abreement_SB Mishawaka_V2_031229.doc <br />