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• <br /> III. Owner agrees to cause the herein-described work to be performed by a <br /> contract with the lowest qualified bidder , selected pursuant to a valid <br /> competitive bidding procedure, and to furnish or cause to be furnished <br /> all necessary labor, materials, tools, and equipment required therefor, <br /> and to prosecute said work diligently to completion. <br /> IV. The State shall pay its share of the actual cost of said relocation <br /> within 90 days after receipt of an itemized bill in quintuplicate, <br /> signed by a responsible official of Owner' s organization, compiled on <br /> the basis of the actual cost and expense. The Owner shall maintain <br /> records of the actual costs incurred and charged or allocated to the <br /> project in accordance with recognized accounting principles. <br /> It is understood and agreed that the State will not pay for any better- <br /> ment or increase in capacity of Owner' s facilities and that Owner shall <br /> give credit to the State for all accrued depreciation on the replaced <br /> facilities and for the salvage value of any material or parts salvaged <br /> and retained or sold by Owner. <br /> V. Detailed records from which the billing is compiled shall be retained <br /> by the Owner for a period of four years from the date of the final bill <br /> and shall be made available for verification by State and Federal <br /> auditors. <br /> VI. It is understood that said highway is a Federal-Aid highway and, <br /> accordingly, Policy and Procedure Memorandum 30-4 is hereby incorporated <br /> into this Agreement. <br /> VII. Owner hereby agrees to comply fully with all of the provisions of <br /> Appendix "A" , which is attached and which is incorporated in full herein <br /> by this reference This clause shall be applicable only in those cases <br /> where the Owner does not perform the work with Owner' s Own forces. <br />