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"2.1. City agrees to pay, and Program Manager agrees to accept as total payment <br />for its services on the Parks Project, Project 1, Project 2 and Project 3, the rates <br />and charges identified in Exhibit B to said Agreement and Exhibit B-1, attached <br />hereto. The total sum to be expended under said Agreement shall not exceed <br />$921,090.00 during the term of this Agreement. <br />2.2.1. The final cost of the Projects may be less than the Project Budgets. <br />Program Manager is responsible for assuring that the Project Budget is not <br />exceeded and under no circumstances will the City be obligated to expend an <br />amount for any Project in excess of the Budget. In the event the cost of any <br />Project, after accounting for all soft and hard costs (as such hard costs are bid by <br />Contractors), exceeds the Project Budget, Program Manager shall either cause the <br />Project or components thereof be re -designed in a manner satisfactory to the City <br />and within the Budget, or obtain written authorization from the City to proceed <br />with the Project at the increased budget amount. <br />2.2.2. The parties acknowledge that the Project Budget for Project 3 to be <br />submitted by the Program Manager and approved by the Designated City <br />Representative shall include the fixed Construction Phase Fee as set forth in <br />Exhibit B-1 (the "Construction Phase Fee"). <br />2.3 PROGRESS PAYMENTS <br />2.3.1 Payments shall be made by the City to the Program Manager for <br />disbursement to Contractors according to the following procedure: <br />2.3.2 The City shall make progress payments monthly as the work proceeds. <br />The Program Manager shall furnish a summary breakdown of the total Project <br />Budget, in a format acceptable to the City, showing the amount included therein <br />for each principal category of the work, in such detail as requested, to provide a <br />basis for determining progress payments. <br />2.3.3 Unless otherwise provided in the Project Documents, payments shall be <br />made on account of materials and equipment delivered and suitably stored at the <br />site for subsequent incorporation in the work. If approved in advance by the City, <br />payment may similarly be made for materials and equipment suitably stored off <br />the site at a location agreed upon in writing. Payment to Contractors and <br />suppliers for materials and equipment stored on or off the site shall be conditioned <br />upon compliance with procedures satisfactory to the City to establish the City's <br />title to such materials and equipment or otherwise protect the City's interest, and <br />shall include applicable insurance, storage and transportation to the site for such <br />materials and equipment stored off the site. <br />2.3.4 Program Manager shall submit to The City its draft request for payment on <br />or about the 25`h day of each month estimating the percentage of completion of <br />