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EXHIBIT 2 <br />b. Payment by Authority shall be made within forty-five (45) days following receipt <br />and acceptance of an invoice and a detailed time log of work performed. The <br />time log shall individuate the service hours performed by date, deliverable and the <br />name of the individual performed the services. Payment need not be made for <br />work which fails to meet the standards of performance set forth in the Recitals <br />which may reasonably be expected by Authority. Authority and Consultant agree <br />that all payments due and owing under this Agreement shall be made through <br />Automated Clearing House (ACH) transfers. Consultant agrees to execute the <br />City's standard ACH Vendor Payment Authorization and provide required <br />documentation. <br />3. TERM <br />This Agreement shall commence on the date first written above ("Effective Date"), and <br />terminate after three (3) years. The term of this Agreement may be extended by a period of two <br />(2), one (1) year extensions, exercisable upon a writing executed by the Authority Executive <br />Director and Authority General Counsel. This Agreement may be terminated by the Authority <br />pursuant to section 12 herein. <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 Authority. This Agreement is not intended <br />nor shall it be construed to create an employer -employee relationship, a joint venture <br />relationship, or to allow the Authority to exercise discretion or control over the professional <br />manner in which Consultant performs the services which are the subject matter of this <br />Agreement; however, the services to be provided by Consultant shall be provided in a manner <br />consistent with all applicable standards and regulations governing such services. Consultant <br />shall pay all salaries and wages, employer's social security taxes, unemployment insurance and <br />similar taxes relating to its employees and shall be responsible for all applicable withholding <br />taxes. <br />5. INSURANCE <br />Prior to undertaking performance of work under this Agreement, Consultant shall <br />maintain and shall require any subcontractors to obtain and maintain insurance as described <br />below for the entire Term of this Agreement against claims for injuries to persons or damage to <br />property which may arise from or in connection with services, products and materials supplied to <br />Authority. Total cost of such insurance shall be borne by Consultant. <br />Minimum Scope and Limit of Insurance. <br />• Commercial General Liability (CGL): Insurance Services Office Form CG 00 <br />01covering CGL on an "occurrence" basis, including products and completed <br />operations, property damage, bodily injury and personal & advertising injury with <br />limits no less than $1,000,000 per occurrence and $2,000,000 aggregate. Required <br />policy limits can be met with primary and umbrella/excess insurance policies. <br />Page 2 of 8 <br />