§ 425. Contracts for municipal transportation infrastructure renewal
projects. Any such contract between the commissioner and a municipality
may include such provisions as may be agreed upon by the parties
thereto, and shall include, in substance, the following:

a. an estimate of the reasonable cost of the project as determined by
the commissioner;

b. an agreement by the commissioner to pay to the municipality during
the progress of construction or following completion of construction as
may be agreed upon by the parties, an amount, not to exceed the total
cost of the project or such lesser amount as may have been established
pursuant to section four hundred twenty-four of this article;

c. an agreement by the municipality:

(i) to proceed expeditiously with and complete the project as approved
by the commissioner,

(ii) to apply for and/or make reasonable efforts to secure federal
assistance, if any, for the project,

(iii) to secure the approval of the commissioner before applying for
such federal assistance, in order to maximize the amounts of such
assistance received or to be received for all projects in New York
state,

(iv) to provide for the municipality's share of the cost of the
project when such municipality's share is required by the appropriation
therefor,

(v) to maintain the project at its own expense in accordance with the
requirements of the commissioner for the period of time corresponding to
the period of useful life for such project as determined by reference to
section sixty-one of the state finance law; and

d. a provision that, in the event that federal assistance which was
not included in the calculation of the state payment becomes available
to the municipality, the amount of the state payment shall be
recalculated with the inclusion of such federal assistance and the
municipality shall pay to the state the amount by which the state
payment actually made exceeds the state payment determined by the
recalculation.