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FM#404418-1-52-01 Original Draft: 4/19/2007 <br />Page I of 2 Revised: 6/1/2007 <br />MEMORANDUM OF UNDERSTANDING <br />THE STATE OF FLORIDA, DEPARTMENT OF TRANSPORTATION <br />And <br />THE CITY OF CASSELBERRY, A FLORIDA MUNICIPAL CORPORATION <br />WHEREAS, it is the policy of the State of Florida, Department of Transportation <br />and of the City of Casselberry, a Florida Municipal Corporation (hereinafter referred to as <br />the City) to cooperate with each other in order to maximize the use and allocation of the <br />monetary resources each are entrusted with, and <br />WHEREAS, the Department of Transportation is currently completing the Design <br />Phase for Interchange Improvements for SR 15/600 (US 17/92) at SR 436, which is <br />located within the boundaries of the City of Casselberry, and <br />WHEREAS, the City of Casselberry desires to have the referenced intersection <br />upgraded from standard FDOT Mast Arm Signalization to Decorative Mast Arm <br />Signalization. <br />NOW THEREFORE, in consideration of the foregoing and on the basis of <br />establishing the expectations of and the obligations of each party hereto, the parties agree <br />as follows: <br />1. The Memorandum of Understanding establishes the expectations and general <br />obligations of each party and it further anticipates that separate agreements may need to <br />be entered into to put into effect the desires of the parties. <br />2. The parties understand and agree that prior to any funds being expended or <br />encumbered that would allow the Department of Transportation (hereinafter <br />"Department") to undertake the project with funding from the City of Casselberry <br />(hereinafter "the City") that a Locally Funded Agreement will need to be entered into by <br />and between the parties hereto so as to allow and provide the terms and conditions of the <br />City providing funding to the Department and to establish the obligation of the City to <br />pay the costs incurred by the Department for the Decorative Mast Arm Upgrades for the <br />referenced intersection should the City fail to perform or to undertake their obligations. <br />3. In regard to the Design Phase of this segment of Interchange Improvements for <br />SR 15/600 (US 17/92) at SR 436, pending approval of Traffic Operations of the <br />referenced intersections, it is the intent of the Department to undertake and to complete <br />the project that will include the Decorative Mast Arm Signalization upgrades. <br />Notwithstanding this stated intent, the parties recognize and agree that the Department <br />has limited funding in its work program (design funds only) to undertake any of the work <br />identified herein. Unless and until said project is fully funded, the Department does not <br />have any ability to undertake any of the tasks outlined herein. <br />4. If and in the event the work program is funded to allow said work to be <br />undertaken, it is the intent of the Department to approach the construction phase of the <br />