Common use of OPTION EFFECTIVE DATE Clause in Contracts

OPTION EFFECTIVE DATE. The effective date of this option letter is upon approval of the State Controller or delegate. ▇▇▇▇▇ ▇. ▇▇▇▇▇, Governor By: Date: Executive Director, Colorado Department of Transportation A. Cost of Work Estimate *The Local Agency should not begin work until all three of the following are in place: 1) Phase Performance Period Start Date; 2) The execution of the document encumbering funds for the respective phase; and 3) Local Agency receipt of the official Notice to Proceed. Any work performed before these three (3) milestones are achieved will not be reimbursable. 1. BUDGETED FUNDS a. Federal Funds (80.00% of Participating Costs) $280,595.00 b. Local Agency Matching Funds (20.00% of Participating Costs) $70,149.94 c. State Funds – MMOF (100% of MMOF Funds) $208,884.00 TOTAL BUDGETED FUNDS $559,628.94 2. OMB UNIFORM GUIDANCE a. Federal Award Identification Number (▇▇▇▇): TBD b. Federal Award Date (also Phase Performance Start Date): See Below c. Amount of Federal Funds Obligated: $0.00 d. Total Amount of Federal Award: $280,595.00 e. Name of Federal Awarding Agency: FHWA f. CFDA# - Highway Planning and Construction CFDA 20.205 g. Is the Award for R&D? No h. Indirect Cost Rate (if applicable) N/A 3. ESTIMATED PAYMENT TO LOCAL AGENCY a. Federal Funds Budgeted $280,595.00 b. State Funds Budgeted $208,884.00 c. Less Estimated Federal Share of CDOT-Incurred Costs $0.00 TOTAL ESTIMATED PAYMENT TO LOCAL AGENCY $489,479.00 4. FOR CDOT ENCUMBRANCE PURPOSES a. Total Encumbrance Amount $559,628.94 b. Less ROW Acquisition 3111 and/or ROW Relocation 3109 $0.00 Net to be encumbered as follows: $559,628.94 Note: No funds are currently available. Construction funds will become available after execution of an Option letter (Exhibit B) or formal Amendment. WBS Element 16810.20.10 Performance Period Start*/End Date TBD / TBD Const. 3301 $0.00 B. Matching Funds

OPTION EFFECTIVE DATE. The effective date of this option letter is upon approval of the State Controller or delegate. ▇▇▇▇▇ ▇. ▇▇▇▇▇, Governor By: Date: Executive Director, Colorado Department of TransportationTransportation By: Date: A. Cost of Work Estimate *The Local Agency should not begin work until all three of the following are in place:Estimate 1) Phase Performance Period Start Date; 2) The execution of the document encumbering funds for the respective phase; and 3) Local Agency receipt of the official Notice to Proceed. Any work performed before these three (3) milestones are achieved will not be reimbursable. 1. BUDGETED FUNDS a. Federal Funds (80.0082.79% of Participating Costs) b. Local Agency Matching Funds (17.21% of Participating Costs) $280,595.00 b. Local Agency Matching Funds (20.00% of Participating Costs) 3,834,025.00 $70,149.94 c. State Funds – MMOF (100% of MMOF Funds) $208,884.00 797,000.00 TOTAL BUDGETED FUNDS $559,628.94 4,631,025.00 2. OMB UNIFORM GUIDANCE GUIDANCE a. Federal Award Identification Number (▇▇▇▇): TBD TBD b. Federal Award Date (also Phase Performance Start Date): See Below Below c. Amount of Federal Funds Obligated: $0.00 d. Total Amount of Federal Award: $280,595.00 3,834,025.00 e. Name of Federal Awarding Agency: FHWA f. CFDA# - Highway Planning and Construction CFDA 20.205 g. Is the Award for R&D? No h. Indirect Cost Rate (if applicable) N/A 3. ESTIMATED PAYMENT TO LOCAL AGENCY a. Federal Funds Budgeted $280,595.00 3,834,025.00 b. State Funds Budgeted $208,884.00 c. Less Estimated Federal Share of CDOT-Incurred Costs $0.00 TOTAL ESTIMATED PAYMENT TO LOCAL AGENCY $489,479.00 3,834,025.00 4. FOR CDOT ENCUMBRANCE PURPOSES a. Total Encumbrance Amount $559,628.94 4,631,025.00 b. Less ROW Acquisition 3111 and/or ROW Relocation 3109 $0.00 Net to be encumbered as follows: $559,628.94 4,631,025.00 Note: No funds are currently available. Design and Construction funds will become available after execution of an Option letter (Exhibit B) or formal Amendment. WBS Element 16810.20.10 23047.10.30 Performance Period Start*/End Date TBD / TBD Design 3020 $0.00 WBS Element 23047.20.10 TBD / TBD Const. 3301 $0.00 B. Matching Funds1) Phase Performance Period Start Date; 2) The execution of the document encumbering funds for the respective phase; and

OPTION EFFECTIVE DATE. The effective date of this option letter is upon approval of the State Controller or delegate. ▇▇▇▇▇ ▇. ▇▇▇▇▇, Governor By: Date: Executive Director, Colorado Department of Transportation Transportation A. Cost of Work Estimate *The Local Agency should not begin work until all three of the following are in place: 1) Phase Performance Period Start Date; 2) The execution of the document encumbering funds for the respective phase; and 3) Local Agency receipt of the official Notice to Proceed. Any work performed before these three (3) milestones are achieved will not be reimbursable. 1. BUDGETED FUNDS a. Federal Funds (80.0080% of Participating CMAQ Costs) $280,595.00 1,380,000.00 b. Local Agency Matching Funds and State Matching Funds (20.0020% of Participating CMAQ Costs; Local $320,000.00, State $25,000.00) $70,149.94 345,000.00 c. State Funds – MMOF FASTER Safety Contribution (100% of MMOF FundsState FASTER Costs) $208,884.00 275,000.00 TOTAL BUDGETED FUNDS $559,628.94 2,000,000.00 2. OMB UNIFORM GUIDANCE a. Federal Award Identification Number (▇▇▇▇): TBD b. Federal Award Date (also Phase Performance Start Date): See Below : TBD c. Amount of Federal Funds Obligated: $0.00 d. Total Amount of Federal Award: $280,595.00 1,380,000.00 e. Name of Federal Awarding Agency: FHWA f. CFDA# - Highway Planning and Construction CFDA Number CFDA 20.205 g. Is the Award for R&D? No h. Indirect Cost Rate (if applicable) N/A 3. ESTIMATED PAYMENT TO LOCAL AGENCY a. Federal Funds Budgeted (1a) $280,595.00 1,380,000.00 b. State Funds Budgeted (1c and 1d) $208,884.00 300,000.00 c. Less Estimated Federal Share of CDOT-Incurred Costs $0.00 TOTAL ESTIMATED PAYMENT TO LOCAL AGENCY $489,479.00 1,680,000.00 4. FOR CDOT ENCUMBRANCE PURPOSES a. Total Encumbrance Amount $559,628.94 2,000,000.00 b. Less ROW Acquisition 3111 and/or ROW Relocation 3109 $0.00 Net to be encumbered as follows: $559,628.94 Note: No funds are currently available. Construction funds will become available after execution of an Option letter (Exhibit B) or formal Amendment. 2,000,000.00 WBS Element 16810.20.10 23564.10.30 Performance Period Start*/End Date TBD / TBD Design 3020 $0.00 WBS Element 23564.20.10 Performance Period Start*/End Date TBD / TBD Const. 3301 $0.00 B. Matching Funds0.00 The Local Agency has estimated the total cost the Work to be $2,000,000.00, which is to be funded as follows:

OPTION EFFECTIVE DATE. The effective date of this option letter is upon approval of the State Controller or delegate. ▇▇▇▇▇ ▇. ▇▇▇▇▇, Governor By: Date: Executive Director, Colorado Department of TransportationTransportation Exhibit C - FUNDING PROVISIONS SHO M570-059 (23897) A. Cost of Work Estimate *The Local Agency should not begin work until all three Estimate 1. BUDGETED FUNDS a. Federal Funds ( 90.00% of Participating Costs) $113,220.00 b. State Matching Funds ( 10.00% of Participating Costs) $12,580.00 2. OMB UNIFORM GUIDANCE a. Federal Award Identification Number (▇▇▇▇): TBD b. Federal Award Date (also Phase Performance StartDate): See Below c. Amount of Federal Funds Obligated: $0.00 d. Total Amount of Federal Award: $113,220.00 e. Name of Federal Awarding Agency: FHWA f. CFDA# - Highway Planning and Construction CFDA 20.205 g. Is the following Award for R&D? No h. Indirect Cost Rate (if applicable) N/A 3. ESTIMATED PAYMENT TO LOCAL AGENCY a. Federal Funds Budgeted $113,220.00 b. Less Estimated Federal Share of CDOT-IncurredCosts $0.00 c. State Funds Budgeted $12,580.00 TOTAL ESTIMATED PAYMENT TO LOCAL AGENCY $125,800.00 4. FOR CDOT ENCUMBRANCE PURPOSES a. Total Encumbrance Amount $125,800.00 b. Less ROW Acquisition 3111 and/or ROW Relocation 3109 $0.00 Net to be encumbered as follows: $125,800.00 Note: No funds are in place:currently available. Design and Construction funds will become available after execution of an Option letter (Exhibit B) or formal Amendment. Performance Period Start*/End Date Design 3020 $0.00 WBS Element 23897 .10.30 TBD / TBD WBS Element 23897 .20.10 TBD / TBD Const. 3301 $0.00 1) Phase Performance Period Start Date; 2) The execution of the document encumbering funds for the respective phase; and 3) Local Agency receipt of the official Notice to Proceed. Any work performed before these three (3) milestones are achieved will not be reimbursable. 1. BUDGETED FUNDS a. Federal Funds (80.00% of Participating Costs) $280,595.00 b. Local Agency Matching Funds (20.00% of Participating Costs) $70,149.94 c. State Funds – MMOF (100% of MMOF Funds) $208,884.00 TOTAL BUDGETED FUNDS $559,628.94 2. OMB UNIFORM GUIDANCE a. Federal Award Identification Number (▇▇▇▇): TBD b. Federal Award Date (also Phase Performance Start Date): See Below c. Amount of Federal Funds Obligated: $0.00 d. Total Amount of Federal Award: $280,595.00 e. Name of Federal Awarding Agency: FHWA f. CFDA# - Highway Planning and Construction CFDA 20.205 g. Is the Award for R&D? No h. Indirect Cost Rate (if applicable) N/A 3. ESTIMATED PAYMENT TO LOCAL AGENCY a. Federal Funds Budgeted $280,595.00 b. State Funds Budgeted $208,884.00 c. Less Estimated Federal Share of CDOT-Incurred Costs $0.00 TOTAL ESTIMATED PAYMENT TO LOCAL AGENCY $489,479.00 4. FOR CDOT ENCUMBRANCE PURPOSES a. Total Encumbrance Amount $559,628.94 b. Less ROW Acquisition 3111 and/or ROW Relocation 3109 $0.00 Net to be encumbered as follows: $559,628.94 Note: No funds are currently available. Construction funds will become available after execution of an Option letter (Exhibit B) or formal Amendment. WBS Element 16810.20.10 Performance Period Start*/End Date TBD / TBD Const. 3301 $0.00 B. Matching Funds.