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<br />AGREEMENT C-6-D069 <br /> <br />I <br /> <br /> <br />2 <br /> <br /> <br />3 <br /> <br /> <br />4 <br /> <br /> <br />5 <br /> <br /> <br />6 <br /> <br /> <br />7 <br /> <br /> <br />8 <br /> <br /> <br />9 <br /> <br /> <br />10 <br /> <br /> <br />II <br /> <br /> <br />12 <br /> <br /> <br />13 <br /> <br /> <br />14 <br /> <br /> <br />IS <br /> <br /> <br />16 <br /> <br /> <br />17 <br /> <br /> <br />18 <br /> <br /> <br />19 <br /> <br /> <br />20 <br /> <br /> <br />21 <br /> <br /> <br />22 <br /> <br /> <br />23 <br /> <br /> <br />24 <br /> <br />account, shall be entered into between AUTHORITY and CITY. Such escrow agreement shall be <br /> <br /> <br />executed for CITY by the City Manager and approved as to form by the City Attorney. Upon <br /> <br /> <br />AUTHORITY's written approval, CITY shall open an escrow account. Within ten (10) business days <br /> <br /> <br />of CITY's written request and Proper Escrow Documentation, AUTHORITY shall deposit in the <br /> <br /> <br />escrow account funds to be used by CITY for the purposes identified in this Agreement and subject <br /> <br /> <br />to release as provided herein. In no circumstance shall the escrow account be part of any spending <br /> <br /> <br />or revenue base of CITY. CITY is required to account for all escrow account activity by submitting <br /> <br /> <br />monthly statements to AUTHORITY. All other costs incurred by the CITY for PROJECT shall be <br /> <br /> <br />paid pursuant to the terms of this Agreement and shall be based on actual labor and expenses <br /> <br /> <br />incurred for the PROJECT. <br /> <br /> <br />B. Deliverv of Invoice- CITY shall invoice AUTHORITY on a monthly basis in accordance <br /> <br /> <br />with Exhibit G, entitled "Invoice Schedule" for payments corresponding to the work actually <br /> <br /> <br />completed by CITY forces or by its Contractors. CITY shall submit three (3) copies of an invoice to <br /> <br /> <br />AUTHORITY's Accounts Payable Department and one (1) copy to AUTHORITY's Project Manager. <br /> <br /> <br />Within ten (10) business days after AUTHORITY's receipt of an acceptable invoice, AUTHORITY will <br /> <br /> <br />review the invoice for consistency and conformity with all requirements of this Agreement and issue <br /> <br /> <br />payment to CITY. AUTHORITY shall notify CITY of any amounts not approved for payment and <br /> <br /> <br />specify the reason for disapproval. CITY may include such disapproved amounts in the next <br /> <br /> <br />month's invoice after correction of the deficiencies noted by AUTHORITY (all such disapproved <br /> <br /> <br />amounts shall be deemed in dispute unless otherwise agreed). <br /> <br /> <br />C. Form of Invoice- Each invoice shall be executed by a designated representative of <br /> <br /> <br />CITY appointed by CITY to have such authority in accordance with Article 10, subparagraph D, <br /> <br /> <br />"Notices", shall be in an acceptable format as detailed in Exhibit E, and shall include the following <br /> <br /> <br />information: <br /> <br />/ <br />25 <br />/ <br /> <br />26 <br /> <br />Page 8 of 26 <br />