04 HOPWA FY 09-10 - Laserfiche WebLink

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IV. PA~~TSOC~ST RF1P~~T A. 1 ~ City shall pay Pry j pct pono~r for the actual ca~t~ of pra~viin the adrninistration afservices hereunder, whether provided directly by Project Sponsor, provided, however, the fatal of all payments to Project Sponsor shall not exceed the Maximum Obligation as specified in Section III of the Agreement. 2} City sha11 drams dawn HDPA funds designated far rental subsidy payments an a monthly basis after receipt of certification of individual of individual tenant subsidy amounts. Aber final approval by City, funds mill be disbursed to landlords, 1. Pra j ect Sponsor shall invoice City n~anthly exclusive of rental subsidy payments, in arrears, based an the actual cost of providing and cantrctin.g for the services hereunder. City shall pay Project Sponsor na later than thirty ~~~} days fallaing receipt of such invoice. Nlanthly payments are interim payments only, and arc subject to final settlement and reconciliation to the final Cost deport submitted by Project Sponsor. ~. All billings by Pra j ect sponsor shall be acco.panied by copies of a~rce documentation including, but not limited ta, journals, t~~ne sheets, canceled checks, and records of cast incurred by Pra j ect ponsar in the ~erforr~lance of this .Agree~.ent. D. At such tunes and in such a far~nat as the Contract ~f~cers mutually agree in 1~t~ng, Pra~ect Sponsor shall prepare and submit to C~tyreports afcost incurred by Para j ect Sponsor in tl~e performance of this Agreement. . The Cast I~eport~s~ shall be financial and statistical reports} submitted by Pra~ct Spansar to City, and shall serve a the basis for final Settlement of this Agreement. The Cost ~.eport~s} shall detail all costs incurred by Project Sponsor to provide services hereunder. F. Final ettlement shall be based. upon the actual costs incurred by Prof ect Sponsor to pravrde services hereunder. if the Cast Reports}indicates the total of City's payments to Piro j ect Sponsor are less than Pra j ect Sponsor's cast to provide the services hereunder City shall pay Project Sponsor the difference; provided, hae~er~ the total payment shall not exceed the Maxirr~u~n obligation. If the Cast ~epart~s~ indicates the total of City's payments to Project Sponsor are higher than Project Spansar~s cast afproviding the services hereunder, Project Sponsor shall pay City the difference. Payment due pursuant to the Cast l~epart~s~ sha11 be made within thirty ~3~} days of the Final Settlement determination.