e. Contract approval
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e. Contract approval
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<br />Upon execution of this Agreement by all parties, each party shall submit its respective <br />share of cost participation described above to the District. The District shall utilize the parties' <br />cost participation funds for purposes of the Project, and shall distribute funds to contractors and <br />other parties for purposes of the Project in accordance with all applicable contracts. If there are <br />any excess funds remaining at the conclusion of the Project, the District shall distribute the <br />remaining funds to the parties in proportion to each party's respective cost participation under <br />this Agreement. <br /> <br />3. Excess Costs. The parties agree if the estimated total cost of the Project <br />following bid openings regarding a construction contract exceeds $640,000.00, the District shall <br />not award any contracts regarding the Project until the parties enter into an acceptable <br />amendment to this Agreement regarding the parties' additional cost participation obligations. If <br />the parties fail to enter into an acceptable amendment within a reasonable time and the District <br />concludes the parties are at an impasse regarding further funding, the District shall pay all costs <br />incurred by the District and shall return the remaining funds to the parties in proportion to each <br />party's respective cost participation under this Agreement. <br /> <br />If the estimated total cost of the Project following bid openings regarding a construction <br />contract is less than $640,000.00, and the District awards a contract in accordance with this <br />Agreement, and the actual costs ofthe Project exceed $640,000.00, the parties shall submit funds <br />to the District to cover the excess costs in proportion to each party's respective cost participation <br />under this Agreement. <br /> <br />4. Ri2ht of Way. If the District determines acquisition of additional right of way <br />from any of the parties to this Agreement is necessary for purposes of the Project, the parties <br />agree they shall grant all necessary temporary and permanent easements to the District without <br />any cost to the District or to the Project. <br /> <br />5. Severability. If any Court of competent jurisdiction declares any provision or <br />part of this Agreement to be invalid or unenforceable, all remaining terms and provisions of this <br />Agreement shall remain binding and enforceable. <br /> <br />6. Successors. This Agreement shall be binding upon, and extend to, the parties and <br />their respective successors and assigns. <br /> <br />7. Applicable Law. This Agreement shall be construed in accordance with and <br />governed by the laws of North Dakota. <br /> <br />8. Amendments. This Agreement may not be changed orally, but only by an <br />agreement in writing and signed by all parties to this Agreement. <br /> <br />9. Headines. Headings in this Agreement are for convenience only and shall not be <br />used to interpret or construe its provisions. <br /> <br />2 <br />
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