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EXHIBIT B <br />COMPENSATION/PAYMENT <br />ATTACHMENT B <br />COMPENSATION/PAYMENT <br />Santa Ana Restaurant and Bar Relief Grant <br />AUGUST 1, 2020 - December 31, 2020 <br />I. Compensation: This is a cost reimbursement service CONTRACT between the CITY and the <br />CONTRACTOR for Santa Ana Restaurant and Bar Relief Grant as set forth in Attachment A — <br />Scope of Work. The total CONTRACT amount shall not exceed $884,000 ($850,000 allocated <br />for Grant Awards and $34,000 allocated for a 4% Service Fee of total grants funds issued) <br />The CONTRACTOR agrees to accept the specified compensation as set forth in this <br />CONTRACT as full remuneration for performing all services and furnishing all staffing <br />labor, insurance requirements and taxes required, for any reasonable unforeseen difficulties <br />which may arise or be encountered in the execution of the services until acceptance, for risks <br />connected with the services, and for performance by the CONTRACTOR of all its duties and <br />obligations hereunder. The CONTRACTOR shall only be compensated as set forth <br />hereinbelow for work performed in accordance with Attachment A - Scope of Work. <br />II. Payment Terms: <br />Upon the effective date of this CONTRACT, CITY shall make payment to CONTRACTOR in <br />accordance with the following payment schedule: <br />A. Grant Award — Payments: At the sole discretion of CITY, payments to CONTRACTOR <br />may be made more frequently than monthly for the distribution of Grant Award funds to <br />businesses, but such payments shall be issued upon application approval but prior to grant <br />disbursement so long as the total Grant Award payments under this CONTRACT do not <br />exceed $850,000. The following process of Grant Award payments will be utilized: <br />a. CONTRACTOR will provide an invoice with a list of approved grant applications <br />b. CITY wire funds to CONTRACTOR within one (1) business day <br />c. Contractor will disburse Grants Award to businesses within one (1) business days <br />of receiving funds from CITY <br />B. Service Fee Payments - Services: CONTRACTOR will receive an upfront payment of <br />$6,800 (20% of the 4% contract service fee). Final payment will be based on 4% of the <br />total grant funds issued minus the upfront payment of $6,800. <br />C. Close -Out Deadlines: The final invoice for services for the month of December must be <br />submitted by December 27"'. The final invoice should include anticipated and projected <br />expenditures. Disbursements for grant payments must be received on or before December <br />23 <br />