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• Services rendered to the City in connection with calculations or determination of <br />any arbitrage rebate liability to the United States of America arising from <br />investment activities associated with debt issued to fund the project. <br />2. COMPENSATION <br />a. City agrees to pay, and Consultant agrees to accept as total payment for its services, <br />the rates and charges identified in Exhibit B. <br />b. Payment by City shall be made within thirty (30) days following receipt of proper <br />invoice evidencing work performed, subject to City accounting procedures. Payment need not <br />be made for work which fails to meet the standards of performance set forth in the Recitals <br />which may reasonably be expected by City. <br />3. TERM <br />This Agreement shall commence on the date first written above and terminate on June 30, <br />2007, unless terminated earlier in accordance with Section 12, below. The term of this <br />Agreement may be extended upon a writing executed by the Executive Director of Finance and <br />Management Services and the City Attorney. <br />4. INDEPENDENT CONTRACTOR <br />Consultant shall, during the entire term of this Agreement, be construed to be an <br />independent contractor and not an employee of the City. This Agreement is not intended nor <br />shall it be construed to create an employer-employee relationship, a joint venture relationship, or <br />to allow the City to exercise discretion or control over the professional manner in which <br />Consultant performs the services which are the subject matter of this Agreement, however, the <br />services to be provided by Consultant shall be provided in a manner consistent with all <br />applicable standards and regulations governing such services. Consultant shall pay all salaries and <br />wages, employer's social security taxes, unemployment insurance and similar taxes relating to <br />employees and shall be responsible for all applicable withholding taxes. <br />5. WORK PRODUCT <br />Consultant shall deliver to City all work product resulting from the services provided. <br />Said work product shall be submitted in a hard copy and produced in a form compatible with <br />City's computer system, as agreed between the Project Manager and Consultant. <br />Consultant agrees that City shall own any and all work product produced pursuant to this <br />Agreement, and further, City may utilize such work product in any manner deemed appropriate by <br />City. <br />6. INSURANCE <br />Prior to undertaking performance of work under this Agreement, Consultant shall <br />maintain and shall require its subcontractors, if any, to obtain and maintain insurance as <br />described below: <br />