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-2- <br />2. The VILLAGE agrees to approve the plans and specifications by <br />letter or resolution prior to the STATE advertising for the <br />work to be performed hereunder. <br />3. It is mutually agreed that the proportional participation <br />for the construction costs and engineering costs of this <br />improvement shall be as follows: <br />STATE VILLAGE <br />FUNDS FUNDS <br />Traffic Signals 508 508 <br />s Coordination Equipment <br />Traffic Signal 508 508 <br />Engineering <br />4. It is mutually agreed that the estimated construction costs <br />and engineering costs of this improvement are divided as <br />follows: <br />STATE VILLAGE <br />INTERSECTION FUNDS FUNDS TOTAL <br />Traffic Signals $40,000 $40,000 $80,000 <br />6 Coordination Equipment <br />Traffic Signal $ 6,000 $ 61000 $12,000 <br />Engineering <br />(158) <br />TOTAL $46,000 $46,000 $92,000 <br />5. It is mutually agreed that the VILLAGE will reimburse the <br />STATE in an amount equal to the VILLAGE'S share of the actual <br />cost as determined in accordance with Item 3 above. It is <br />mutually agreed that upon award of the contract for this <br />improvement, the VILLAGE will pay to the Department of <br />Transportation of the State of Illinois, in a lump sum from <br />any funds allotted to the VILLAGE, under the Motor Fuel Tax <br />Law, an amount equal to 958 of its obligation incurred under <br />this Agreement, and will pay to the said Department the <br />remainder of its obligation in a lump sum, upon completion of <br />the pr'oject based upon final costs. <br />6. The VILLAGE has passed a resolution appropriating sufficient <br />funds to pay its share of the cost of this improvement, a copy <br />of which is attached hereto as Exhibit "A" and made a part <br />hereof. <br />